The China Mail - What did countries agree to at COP30?

USD -
AED 3.672498
AFN 65.999773
ALL 81.973818
AMD 378.010114
ANG 1.79008
AOA 916.530447
ARS 1445.7622
AUD 1.435285
AWG 1.80125
AZN 1.701675
BAM 1.658807
BBD 2.01469
BDT 122.336816
BGN 1.67937
BHD 0.377
BIF 2964.288592
BMD 1
BND 1.274003
BOB 6.911584
BRL 5.248597
BSD 1.000305
BTN 90.399817
BWP 13.243033
BYN 2.865297
BYR 19600
BZD 2.011721
CAD 1.365769
CDF 2224.999941
CHF 0.775515
CLF 0.021898
CLP 864.480175
CNY 6.94215
CNH 6.935399
COP 3662.01
CRC 495.911928
CUC 1
CUP 26.5
CVE 93.521
CZK 20.555102
DJF 178.127969
DKK 6.32418
DOP 63.127629
DZD 129.961011
EGP 46.8977
ERN 15
ETB 155.859732
EUR 0.84705
FJD 2.2066
FKP 0.732184
GBP 0.737955
GEL 2.689805
GGP 0.732184
GHS 10.98271
GIP 0.732184
GMD 73.510149
GNF 8779.176279
GTQ 7.672344
GYD 209.27195
HKD 7.81248
HNL 26.422344
HRK 6.384802
HTG 131.225404
HUF 320.491503
IDR 16872.6
ILS 3.113155
IMP 0.732184
INR 90.211956
IQD 1310.388112
IRR 42125.000158
ISK 122.669412
JEP 0.732184
JMD 156.449315
JOD 0.708939
JPY 156.75302
KES 129.039839
KGS 87.449959
KHR 4037.199913
KMF 417.000436
KPW 900.030004
KRW 1462.830463
KWD 0.30734
KYD 0.833598
KZT 493.342041
LAK 21499.694667
LBP 89579.400015
LKR 309.548446
LRD 186.059136
LSL 16.159927
LTL 2.95274
LVL 0.60489
LYD 6.336511
MAD 9.181029
MDL 16.999495
MGA 4425.634414
MKD 52.199279
MMK 2099.783213
MNT 3569.156954
MOP 8.049755
MRU 39.901106
MUR 46.060158
MVR 15.460025
MWK 1734.461935
MXN 17.40415
MYR 3.946982
MZN 63.759847
NAD 16.159927
NGN 1368.090249
NIO 36.809608
NOK 9.77292
NPR 144.639707
NZD 1.669735
OMR 0.38449
PAB 1.000314
PEN 3.362397
PGK 4.348453
PHP 58.777504
PKR 280.076588
PLN 3.57332
PYG 6605.373863
QAR 3.645678
RON 4.314797
RSD 99.425967
RUB 76.575287
RWF 1459.984648
SAR 3.750159
SBD 8.064647
SCR 13.712043
SDG 601.501128
SEK 9.027399
SGD 1.27302
SHP 0.750259
SLE 24.550436
SLL 20969.499267
SOS 570.633736
SRD 37.869533
STD 20697.981008
STN 20.779617
SVC 8.752036
SYP 11059.574895
SZL 16.152192
THB 31.752499
TJS 9.362532
TMT 3.505
TND 2.89846
TOP 2.40776
TRY 43.539397
TTD 6.773307
TWD 31.650975
TZS 2584.99995
UAH 43.163845
UGX 3570.701588
UYU 38.599199
UZS 12269.30384
VES 377.98435
VND 25970
VUV 119.687673
WST 2.726344
XAF 556.374339
XAG 0.01329
XAU 0.000206
XCD 2.70255
XCG 1.802745
XDR 0.691101
XOF 556.348385
XPF 101.150088
YER 238.325034
ZAR 16.154445
ZMK 9001.191881
ZMW 18.580528
ZWL 321.999592
  • CMSC

    -0.0600

    23.46

    -0.26%

  • SCS

    0.0200

    16.14

    +0.12%

  • RIO

    -4.2100

    92.27

    -4.56%

  • BCC

    -2.1900

    88.04

    -2.49%

  • JRI

    0.0400

    13.19

    +0.3%

  • CMSD

    -0.0170

    23.853

    -0.07%

  • RBGPF

    0.1000

    82.5

    +0.12%

  • NGG

    -0.5800

    87.21

    -0.67%

  • RYCEF

    -0.0600

    16.62

    -0.36%

  • RELX

    0.5800

    30.36

    +1.91%

  • BTI

    0.2950

    61.925

    +0.48%

  • VOD

    -1.0200

    14.69

    -6.94%

  • GSK

    2.3350

    59.565

    +3.92%

  • BCE

    -1.0500

    25.29

    -4.15%

  • BP

    -0.9550

    38.245

    -2.5%

  • AZN

    1.6950

    189.145

    +0.9%

What did countries agree to at COP30?
What did countries agree to at COP30? / Photo: © AFP/File

What did countries agree to at COP30?

The COP30 climate summit has drawn to a close after two weeks in the Amazonian city of Belem where protests, street marches and even a fire caused unexpected moments of drama.

Text size:

But beneath enormous tents erected over a former airport at the edge of the rainforest, nations also adopted some decisions on how to battle climate change.

Here are the main negotiated outcomes, and the voluntary commitments, made during the summit attended by nearly 200 nations:

- Fossil fuels -

The thorniest issues were bundled into a "mutirao" pact -- the summit's slogan, drawn from the Tupi-Guarani word for "collective effort."

The agreement included an initiative for countries to collaborate on a voluntary basis to reduce carbon emissions and strive to limit global warming to 1.5C relative to pre-industrial levels.

It also noted a commitment made by all nations at COP28 in Dubai to "transition away from fossil fuels" -- but this exact phrase, which has become politically sensitive, was not included.

Despite pressure from more than 80 nations from Europe to Latin American to the Pacific, the conference did not adopt a "roadmap" to phase out fossil fuels.

Instead, COP30 president Andre Correa do Lago offered to create one for countries willing to join on a voluntary basis, and another plan to halt deforestation.

- Finance -

The world's poorest nations have long complained they lack the finance for "adaptation" -- measures to protect their economies from rising seas, such as building sea walls, and other impacts of climate change.

In a win for developing countries at COP30, the final agreement "calls for efforts to at least triple adaptation finance by 2035."

In 2024, rich countries agreed to provide $300 billion a year by 2035 in climate finance to developing nations, with no specific amount earmarked for adaptation.

Most of that goes to projects that reduce greenhouse gas emissions, such as renewable energy, and not to adaptation -- something developing nations have long complained puts them at a disadvantage.

The "tripling" goal agreed in Belem could mean $120 billion from that $300 billion is earmarked for adaptation, but close observers said clarity was still needed around that target.

- Trade -

For the first time, trade has been included as a pillar of the final text, with a three-year dialogue to take place under the climate framework.

This reflected concerns from countries including China that trade measures -- like taxes on carbon-intensive goods -- could erode export revenues or throw up barriers to green technology sales.

- Forests -

At COP30, Brazil launched a new global investment vehicle that proposes paying out a share of profits to forest-rich countries for every hectare of trees they leave standing.

Brazilian President Luiz Inacio Lula da Silva announced during a leaders' summit in Belem last week -- even before COP30 officially started -- the launch of the Tropical Forests Forever Facility.

The TFFF attracted $5.5 billion in pledges from Norway, Germany, Indonesia, France and Brazil -- the biggest contributors.

Ultimately, Brazil is seeking to raise $125 billion in public and private investment, but said the fund could start working even without the full $25 billion in startup capital from governments.

- Methane pledges -

Slashing methane emissions -- the second-largest contributor to climate change after carbon dioxide -- is considered one of the fastest ways to curb global warming.

Although it remains in the atmosphere for about 12 years, the "super pollutant" is roughly 80 times more potent than CO2 over a 20-year period.

At COP30, seven countries -- Britain, France, Canada, Germany, Norway, Japan and Kazakhstan -- signed a statement vowing to achieve "near zero" methane emissions across the fossil fuel sector.

X.So--ThChM