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Fossil Fuels Face Reckoning at COP30
19 Nov
Summary
- Over 80 countries support a fossil fuel phase-out plan.
- Key negotiations involve persuading China and India.
- Finance commitments fall short of developing nations' needs.
Momentum is building at COP30 for a crucial outcome: a roadmap to phase out fossil fuels and halt deforestation. Over 80 countries are backing this initiative, though major economies and petrostates are posing resistance. Brazilian President Luiz Inácio Lula da Silva's return to Belém aims to galvanize support, particularly from China and India, and secure additional financing from the European Union.
The negotiations face a tight deadline, with the summit scheduled to conclude on Friday. While the main negotiating text is reportedly less contentious than in previous years, significant breakthroughs are needed on finance and trade. Indigenous leaders and scientists are highlighting the urgent environmental crisis, underscoring the degradation of vital biomes like the Amazon towards irreversible tipping points.
Climate Action Tracker analysis reveals that global heating could be cut by a third this decade if governments fulfilled existing promises for renewable energy expansion, energy efficiency, and methane reduction. The success of COP30 hinges on nations honoring their commitments and addressing the persistent challenge of climate finance.
