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The ‘COP of Truth’, as Brazilian President Luiz Inaciao Lula da Silva had christened the 30th Conference of the Parties (COP30) to the United Nations Framework Convention on Climate Change (UNFCCC), turned true to its billing. The global climate summit concluded on November 22 afternoon with a weak and compromised final draft, exposing the hard truth of discord between the Global North and Global South.
The final draft got accepted after a fair share of drama, with several countries raising objections even after the gavel came down. It was praised for announcing the just transition action plan and gender-based action plan. But the core issue of finance, particularly adaptation finance, continued to be pushed back without adequate commitment from developed countries.
Least developed vulnerable countries and emerging economies like India need funds for adaptation. Global Adaptation Fund Board officials recently shared with this correspondent that the board could not even generate 40 per cent of its minimum requirement of $300 million for 2026 from the just-concluded summit.
India officially praised the outcome, observing it reaffirmed “commitment to equity, climate justice and global solidarity” in climate negotiations. New Delhi also appreciated the COP Presidency’s role “in foregrounding the issue of climate finance”. But in private, senior Indian negotiators observed that they expected a better deal on adaptation finance.
“The COP30 was called ‘COP of implementation’ and ‘COP of adaptation’. But it worked and walked almost in the opposite direction,” said a climate activist in Belem.
“COP30 showed that climate cooperation is alive and kicking … 194 countries have stood firm in solidarity (and) rock-solid in support of climate cooperation,” claimed UNFCCC executive secretary Simon Steill on November 22 evening, after the summit came to an end.
“On to the negotiated text, the first is, we reached unanimous agreement on key agenda items like just transition, gender, and the tripling of adaptation finance …194 countries agreed that 1.5 degrees is still our goal,” said Steill.
He mentioned paragraph 10 that reads: “the global transition towards low greenhouse gas emissions and climate-resilient development is irreversible and the trend of the future.”
The key outcomes are:
● Countries agreed to launch the ‘Global Implementation Accelerator,’ a two-year work programme to close the gap between current national climate plans and what is required to keep 1.5°C within reach, including COP28 agreements to transition away from fossil fuels. But the challenge is to turn the suggestion into on ground implementation.
● Countries agreed to develop a just transition mechanism to enhance international cooperation, technical assistance, capacity-building and knowledge sharing. But there are question marks on its efficacy without enough financial support.
● COP30 President André Corrêa do Lago announced the creation of two roadmaps on deforestation and on transitioning away from fossil fuels. This was essentially a compromise to counter the criticism for not keeping these under the final text.
● Rich countries committed to a tripling of adaptation finance as part of the $300bn New Collective Quantified Goal by 2035, meaning that roughly $120 bn of the $300bn climate finance goal will be dedicated to adaptation measures in the most vulnerable countries. This is almost a repetition of an earlier COP decision.
● Countries agreed on a two-year work programme for the delivery of climate finance including the $300bn, as well as a high-level ministerial on the quality and quantity of the new climate finance goal agreed at COP29. This is another exercise to push back actual support, pointed out many. They reminded that the Baku-to-Belem 1.3 trillion Roadmap has just been finalised.
● An amount of $135 million was pledged to the Global Adaptation Fund at COP30, hardly 40 per cent of the minimum target.
● An amount of $250 million was pledged for distribution to projects under the Loss and Damage fund starting immediately after COP30. Activists hailed this first-of-its-kind announcement but observed the amount to be too less.
● An amount of $300 million was pledged for the Belém Health Action Plan to support the health sector’s adaptation to climate change, a welcome step if executed. India, one of the major countries being affected by climate change, is not part of it.
● Over 80 countries signalled commitment to a roadmap to transition away from fossil fuels, including 24 countries signing the Colombia-led Belém Declaration. This is gathering momentum. But, as of now, it is only an unofficial agenda of the COP Presidency.
● More than $1 trillion was committed by 2030 to expand power grids, energy storage and more investments in the energy transition. Studies show many of these kinds of announcements do not get implemented in the long run.
● Eighteen governments signed on the Declaration on Information Integrity on climate change. Most are still out of the ambit.
● Brazil launched a new Integrated Forum on Climate Change and Trade to coordinate climate-aligned trade policy and create a “safe space for dialogue” among trade and climate officials. This is the first time that trade has infiltrated climate talks.
● Brazil, the EU, China, the UK and others, accounting for around 20 per cent of global emissions, agreed to a Global Carbon Market coalition at the pre-COP Leaders Summit. These are pledges beyond the UN process. Though important, they hardly have any UN mandate.
● Similarly, a global Intergovernmental Land Tenure Commitment was launched by 15 governments. But there is again nothing official about it.
Arunabha Ghosh, South Asia Climate Envoy to the COP30 Presidency and CEO, Council for Energy Environment & Water (CEEW), pointed at the slew of steps proposed in the final draft: “In a year where climate multilateralism has been challenged, getting a reasonable to good deal was better than failing to get any deal in pursuit of the best deal.”
“We need genuine investment pathways, honest recognition of the scale of loss & damage and adequate concessional finance,” observed the expert.
“We leave Belém with a historic victory for people power, but a devastating failure of political will from the Global North to deliver climate ambition and finance,” said Harjeet Singh, a global climate activist and also the Founding Director of the Satat Sampada Climate Foundation.
“We celebrate the decision to develop the Just Transition mechanism and the announcement of a roadmap to transition away from fossil fuels as a win for workers and communities. But without a concrete commitment to robust public funding, the transition to a greener future remains a mirage,” he added.
Singh also hailed the rolling out of the loss and damage fund but criticised the little funding for it.
“The finance-related outcome is utterly unacceptable. By refusing to put real numbers on the table and shifting the burden onto developing nations, the EU and other rich countries are trying to escape their legal and moral obligations of providing public finance as per the Article 9.1 of the Paris Agreement,” Singh alleged.