Oil-producing countries have once again taken charge in international climate talks. The latest draft agreement from COP30, shared on the last day of the summit, removes any mention of phasing out fossil fuels.
This topic was one of the biggest arguments during this year’s summit, which took place over two weeks in Belem, Brazil, near the Amazon.
A previous version of the text had several ideas for reducing hydrocarbon use.
Many countries, including Germany, Kenya, and vulnerable island states, wanted a clear ‘roadmap’ to follow COP28’s promise for a ‘gradual reduction’ in fossil fuel use.
Even though oil, coal, and natural gas greatly contribute to climate change, the COP28 agreement was the first time fossil fuels were mentioned after 30 years of talks.
This year, however, Saudi Arabia and other oil-producing nations refused to discuss a roadmap, according to officials who spoke to Reuters. In the text presented by the Brazilian presidency early Friday morning, all references to fossil fuels were taken out.
The draft can still be changed but needs unanimous approval from nearly 200 countries to be finalized.
On Thursday, the summit presidency talked with key negotiating groups after a fire broke out at the venue, briefly stopping discussions. Although COP30 is set to end on Friday, it might continue into the weekend, as has happened before.
Funding and Trade Policies
The new text aims to triple funds by 2030 for helping poor countries adapt to climate change impacts compared to 2025 levels. However, it doesn’t specify if these funds will come from government sources or elsewhere—a point that may upset poorer nations.
Investments in adaptation projects, like better infrastructure for extreme weather events, are crucial but often provide low returns, making private sector involvement less likely.
Additionally, the plan suggests that the next three COPs will include talks on how international trade affects climate change with input from the World Trade Organization. This discussion has long been requested by countries like China but could put pressure on the EU due to its carbon border tax often being targeted.
