COP30: Ambitious $1.3T plan on paper, delivery in question

APART FROM THE COMMITMENT TO TRIPLE ADAPTATION FINANCE BY 2035, KEY AGREEMENTS INCLUDE A BRAZILIAN-LED EFFORT FOR A ROADMAP TO TRANSITION AWAY FROM FOSSIL FUELS AND END DEFORESTATION, AN IMPLEMENTATION ACCELERATOR TO KEEP 1.5° C ALIVE, AND A NEW MECHANISM TO ENHANCE INTERNATIONAL COOPERATION ON A JUST TRANSITION.

- VIBHA SHARMA

UN climate conference negotiations mostly exceed schedules and deadlines and the UNFCCC COP30 in Belem, Brazil, was no different. However, unlike many such meetings held since the Paris Agreement, this conference made progress in easing some of the tension between 'developed' and 'developing nations over climate finance, with countries agreeing to establish a two-year plan aimed at helping developing nations raise at least $1.3 trillion annually by 2035 ~ funding crucial for their climate goals in the coming decade.