The UN climate talks, Cop30, are taking place in Belém, Brazil, where the local weather has been likened to the progress of negotiations. The summit began positively, with an agenda agreed upon on the first day. However, key discussions on climate finance, carbon border tariffs, and bridging the gap between national climate commitments and the Paris Agreement are expected to emerge in the event’s second week.
Recent reports from the International Energy Agency indicate that the global fossil-fuel era is nearing its end, with projections of peak coal, oil, and gas usage within this decade. Economist Fadhel Kaboub noted that developing nations, particularly in Africa, have the potential to generate far more electricity than they will need by 2040, suggesting opportunities for energy exports. Nevertheless, the transition from hydrocarbons is progressing slowly, reinforcing the importance of financing and equitable transition strategies at Cop30.
Disputes continue over strategies to limit global warming to 1.5 degrees Celsius above preindustrial levels. Developing countries emphasize Article 9.1 of the Paris Agreement, which mandates that wealthy nations provide financial support for climate initiatives. In contrast, richer countries reference Article 6, which focuses on carbon markets. The developing nations insist that historical polluters should fund initiatives primarily as grants, while wealthier nations advocate for mixed approaches of private capital and loans.
The stakes are substantial, with developing countries seeking $1.3 trillion annually for climate finance, necessary for resilience and infrastructure. However, previous commitments have fallen short, with only a fraction of promised funds materializing for a “just transition” for affected communities. The ongoing discussions may determine whether this summit can deliver improved outcomes compared to previous negotiations.
As global warming trends project a rise of 2.6 degrees Celsius this century, the focus remains on whether wealthier nations will fulfill their financial responsibilities or continue to underfund climate initiatives.
Source: https://www.theguardian.com/commentisfree/2025/nov/14/the-guardian-view-on-cop30-someone-has-to-pay-for-the-end-of-the-oil-and-gas-age