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الوسم: climate summit

  • COP30 Climate Summit: Final Push on Fossil Fuels & Funding

    COP30 Climate Summit: Final Push on Fossil Fuels & Funding

    The COP30 climate summit faced a significant dispute Friday over the ongoing role of fossil fuels, as Brazil, the host country, removed its previous proposal for a global plan to phase out oil, gas, and coal from the draft agreement.

    A deal draft issued early Friday omitted any mention of fossil fuels, eliminating numerous options on the topic that appeared in earlier versions. This has become one of the most heated issues during the two-week conference attended by nearly 200 governments in Belem, Brazil.

    Over 30 countries sent a letter late Thursday to the COP30 leadership, stating they could not support a conclusion that did not include a commitment to develop a clear roadmap for transitioning away from fossil fuels. This has set the stage for a climactic showdown in the final hours, with the summit scheduled to conclude at 6 p.m. local time (9 p.m. GMT). Past COP meetings have often extended past their deadlines before reaching a compromise.

    EU Climate Commissioner Wopke Hoekstra expressed disappointment, saying the current draft lacked sufficient ambition to reduce emissions. Countries are expected to discuss the draft publicly starting around 1 p.m. GMT, with any final agreement needing consensus approval.

    For days, nations have debated the future of fossil fuel use, which accounts for the largest share of human-caused greenhouse gas emissions. Nations including Colombia, France, Germany, Kenya, the Marshall Islands, Mexico, the Netherlands, South Korea, Spain, and the UK emphasized in their letter that the current draft does not meet the minimum standards for a credible outcome, urging for a clear plan to ensure an equitable and orderly shift away from fossil fuels.

    The draft also proposes to triple the financial aid available to help nations adapt to climate change by 2030, relative to 2025 levels. Still, it leaves uncertain whether this funding will come from wealthy countries directly, from development banks, or from private sources. Poorer countries are likely to be disappointed, seeking stronger assurances that public money will support adaptation efforts, such as infrastructure improvements to withstand extreme weather or reinforce buildings against storms—projects crucial for saving lives but less financially attractive to private investors.

    Additionally, the draft outlines plans to hold future COP conferences to discuss trade issues, with a focus on involving entities like the World Trade Organization (WTO). This is seen as a win for countries like China, advocating for trade to be part of climate conversations, but it might cause discomfort for the European Union, which has expressed concerns over proposals like the EU carbon border levy. Countries such as South Africa and India have criticized the levy and called for its abolition.

  • COP30 Highlights: What’s on the Agenda?

    COP30 Highlights: What’s on the Agenda?

    The upcoming United Nations climate summit is expected to be highly symbolic, commemorating a decade since the Paris Agreement and taking place within the ecologically sensitive Amazon Rainforest. But what are the specific issues on the table?

    The extensive negotiations will bring together nearly every nation to tackle challenges that impact us all. Unlike previous conferences, COP30 lacks a singular focus or goal.

    However, this does not mean major polluters will escape scrutiny. Climate-vulnerable countries are still frustrated over the lack of ambition and financial support needed to help those most affected by global warming.

    Key topics to watch as world leaders convene in Belem on Thursday and Friday before the official negotiations begin include:

    Emissions:
    Globally, emissions cutbacks are not happening swiftly enough to meet the targets set in the Paris Agreement. No amount of ceremony at COP30 can mask this uncomfortable truth. Signatory nations are required to submit more ambitious greenhouse gas reduction targets every five years to gradually increase collective efforts to curb warming. The latest pledges for 2035 were due in February to give the UN time to review their quality before COP30. By early November, roughly 65 countries had submitted revised plans, though the European Union and India still need to finalize their commitments. Brazil, which praised recent pledges as representing a shared future, faces pressure from the international community to deliver a response.

    Funding:
    Financial aid remains a major sticking point, particularly the contributions from wealthy nations to support poorer countries in adapting to climate change and transitioning to low-carbon economies. Last year, after tense negotiations, COP29 agreed that wealthy countries would provide $300 billion annually in climate finance to developing nations by 2035 — still short of actual needs. They also targeted raising $1.3 trillion from public and private sources annually by that year, but details are sparse. Developing countries will be pushing for clear, actionable commitments at COP30. A significant focus is on funding adaptation efforts, such as coastal defenses, to help nations vulnerable to climate impacts.

    Forests:
    Brazil was chosen to host COP30 due to its proximity to the Amazon, drawing global attention to the rainforest’s critical role in combating climate change. The summit will launch the Tropical Forests Forever Facility (TFFF), a new global initiative designed to reward countries with substantial tropical forest cover that successfully preserve their trees. The fund aims to raise up to $25 billion from Ally countries and an additional $100 billion from the private sector, with Brazil committing $1 billion so far. Greenpeace expert Clement Helary noted that the TFFF could be a positive step for protecting tropical forests if COP30 also delivers concrete plans to end deforestation by 2030. Despite these efforts, deforestation in the rainforest reached record highs in 2024, with about 18 football fields of forest lost every minute, mainly due to large-scale fires.