COP30 Text Finalized: 1.5°C Target Overshoot Acknowledged

The final version of the COP30 climate agreement has been published, signaling a significant step in global climate negotiations. The text acknowledges the current trajectory may lead to a temporary overshoot of the critical 1.5°C warming limit established by the Paris Agreement. Despite this acknowledgment, the agreement stresses a continued resolve to pursue efforts that limit both the magnitude and duration of any such temperature increase.

Central to the agreement is the reaffirmation of financial commitments from developed nations to assist developing countries in their mitigation and adaptation efforts. The text also highlights the urgency of deep emissions reductions, noting that global trajectories are not yet aligned with the Paris Agreement goals. Developed countries are urged to increase climate finance, with a call to triple adaptation finance by 2030 and scale up total financing to USD 1.3 trillion annually by 2035.

Significant debate also surrounded trade measures related to climate action, with developing countries opposing unilateral actions like carbon border adjustments. While the text encourages a supportive international economic system, it also states that climate measures should not arbitrarily restrict trade. This compromise reflects ongoing tensions between economic interests and climate imperatives, underscoring the complex challenges in achieving global climate goals.