Oil-producing countries have once again taken charge in international climate talks. The latest draft agreement of COP30, shared on the last day of the summit, removes any mention of phasing out fossil fuels.
This topic was one of the biggest points of contention at this year’s summit, which took place over two weeks in Belem, Brazil, near the Amazon.
A previous version of the text included several options for reducing 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 specifically mentioned after 30 years of talks.
This year, however, Saudi Arabia and other oil-producing countries refused to discuss a roadmap, according to officials who spoke to Reuters. In the text presented by the Brazilian presidency early Friday morning, all mentions of fossil fuels were taken out.
The draft can still be changed and needs unanimous approval from nearly 200 countries to be finalized.
On Thursday, the summit presidency held talks with key negotiating groups after a fire broke out at the venue, briefly stopping discussions. Although COP30 is set to wrap up on Friday, it may extend into the weekend as often happens.
Funding and Trade Policies
The new text calls for tripling funds by 2030 to help 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 detail that might upset poorer nations.
Investments in adaptation projects, like building stronger infrastructure against extreme weather events, are crucial but often yield low returns. This discourages private sector involvement.
Additionally, the plan suggests that over the next three COPs there will be discussions on how international trade relates to climate change with input from the World Trade Organization. This is a long-standing request from countries like China but may put pressure on the EU since its carbon border tax is often targeted.
