Oil-producing countries have made their position clear in international climate talks again. The latest draft agreement of COP30, shared on the last day of the summit, takes out any mention of phasing out fossil fuels.
This topic was one of the biggest points of contention during this year’s summit, held for two weeks in Belem, Brazil, near the Amazon.
A previous version included different options for cutting down hydrocarbon use.
Many nations, like 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 are major contributors to climate change, COP28 was the first time fossil fuels were mentioned explicitly after 30 years of talks.
This year, however, Saudi Arabia and other oil-producing countries refused to discuss a roadmap, according to officials who talked to Reuters. In the text shared by the Brazilian presidency early Friday morning, any mention of fossil fuels was taken out.
The draft can still be changed and needs unanimous approval from nearly 200 countries to be finalized.
On Thursday, the summit’s presidency had talks with major negotiating groups after a fire broke out at the venue, briefly stopping discussions. Although COP30 is set to end on Friday, it might go into the weekend, as often happens.
Funding and Trade Policies
The new text aims to triple funds by 2030 for helping poor countries adapt to climate change compared to 2025 levels. However, it doesn’t specify if these funds will come from government sources or elsewhere—a point likely to upset poorer nations.
Investments in adaptation projects, like improving infrastructure against extreme weather events, are important but often yield low returns, making private sector involvement less appealing.
Additionally, the plan suggests that over the next three COPs there will be talks about the role of international trade in climate change, with input from the World Trade Organization. This discussion has long been requested by countries like China but may put pressure on the EU since its carbon border tax is often targeted.
