Try GOLD - Free
One step forward, two backward
Financial Express Mumbai
|November 27, 2025
THE WORLD NEEDS A NEW MULTILATERAL ARCHITECTURE FOR A NEW PHASE OF CLIMATE ACTION
BRAZILIAN PRESIDENT LUIZ Inacio Lula da Silva had declared the 30th Conference of Parties (COP30) to the UN Framework Convention on Climate Change (UNFCCC) as the “COP of truth”.
And truth, indeed, was unmistakable in Belém. The meeting made it clear how fragmented and fragile the global consensus on climate action has become. Decisions that countries had once celebrated as historic achievements were rejected outright. Commitments that were hailed as breakthroughs only a few years ago suddenly appeared to have evaporated.
The most prominent example was the decision to “transition away from fossil fuels”, which had been agreed at the Dubai COP in 2023. That phrase—hailed then as a diplomatic triumph—did not even appear in the final text at Belém. Countries that had supported it earlier refused to accept it now. A similar retreat occurred on deforestation. At COP26 in Glasgow, over 130 nations pledged to halt and reverse deforestation by 2030. At COP30, a road map to achieve this was quietly dropped. The symbolism was striking: a climate summit held at the edge of the Amazon was unwilling to reaffirm the world’s most widely supported forest pledge.
The question, then, is what COP30 actually achieved. The honest answer is: very little. Ten years after the Paris Agreement, instead of accelerating climate action, the world found itself postponing decisions and shifting difficult conversations away from the UN climate process. The most contentious issues were not resolved; they were simply moved elsewhere.
This story is from the November 27, 2025 edition of Financial Express Mumbai.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Financial Express Mumbai
Financial Express Mumbai
UK investigates X over Grok deepfake concerns
UK REGULATORS HAVE opened a probe into Elon Musk's X as backlash mounts worldwide over the thousands of sexually suggestive images generated by the artificial intelligence tool Grok on the social media platform.
1 min
January 13, 2026
Financial Express Mumbai
Lemon Tree: Restructuring gains
EYES CAGR OF 11% IN REVENUE, 13% IN EBITDA, 26% IN PAT OVER FY25-28
2 mins
January 13, 2026
Financial Express Mumbai
The advent of vibe coding
VIBE CODING LETS NON-CODERS SET FOOT IN A WORLD PREVIOUSLY UNACCESSIBLE
4 mins
January 13, 2026
Financial Express Mumbai
Maruti to invest ₹4,960 cr in 2nd Gujarat plant
MARUTI SUZUKI INDIA, the country's top carmaker, has received board approval to invest ₹4,960 crore in Gujarat to expand its manufacturing capacity, marking a significant step in its longterm growth strategy.
1 min
January 13, 2026
Financial Express Mumbai
Gaurav Munjal to stay at the helm of Unacademy
UNACADEMY CO-FOUNDER GAURAV
2 mins
January 13, 2026
Financial Express Mumbai
Bosses race to upskill before bots outsmart them
C-SUITE LEARNING NEW CODE FOR SURVIVAL
2 mins
January 13, 2026
Financial Express Mumbai
Wheat sowing rises 2% to 33.4 million hectare
AREA UNDER COVERAGE for wheat rose 2% to 33.4 million hectares till January 9 of the ongoing rabi (wintersown) season, according to the government data.
1 min
January 13, 2026
Financial Express Mumbai
BSE, IFCI stocks surge on NSE IPO expectations
STOCK PRICES OF the BSE and IFCI surged on Monday on hopes of the listing of the National Stock Exchange (NSE), which is the highest-valued company in the India unlisted space.
1 mins
January 13, 2026
Financial Express Mumbai
Ola Electric launches Shakti energy storage
OLA ELECTRIC ON Monday rolled out its first 'Shakti', a portable energy storage system for homes and offices, from its cell manufacturing Gigafactory in Krishnagiri, Tamil Nadu.
1 min
January 13, 2026
Financial Express Mumbai
Forex swap to cruise on arbitrage, corp demand, say bankers
THE ARBITRAGE OPPORTUNITIES between onshore and offshore markets alongside an expected pickup in corporate participation are likely to help the Reserve Bank of India's (RBI's) $10-billions foreignexchange swap sail through smoothly, bankers said.
1 min
January 13, 2026
Listen
Translate
Change font size
