Oil and Gas Phase-Out Deferred at COP30

At the Cop30 climate summit held in Belém, Brazil, an agreement was reached to provide additional financial assistance to developing countries to combat the effects of climate change. However, the final document did not include the clause on phasing out fossil fuels, which had been proposed by the European Union.

According to the agreement, a voluntary initiative will be launched to accelerate climate action. Additionally, developed countries were urged to at least triple the funds allocated for climate adaptation by 2035.

The document also includes plans to revise international trade mechanisms to align with climate goals. Developing countries are demanding increased financial aid due to the growing threats of rising sea levels, extreme heat, droughts, and floods.

Disagreements over the issue of phasing out fossil fuels persisted until the end. Due to opposition from a group of Arab states, including Saudi Arabia, this issue was addressed in a separate supplementary document proposed by Brazil.

Although the United States did not send an official delegation to the summit, conference participants expressed their commitment to maintaining solidarity on climate issues. Read “Zamin” on Telegram!