The 30th Conference of the Parties (COP30) was hosted in Belém last month, with over 190 countries joining together to discuss how to limit the impact of human-caused climate change and bring about climate-related international commitments.
Following 12 days of negotiations and discussions, COP30 ended with an agreed text which outlines the outcomes and commitments, referred to as the “global mutirão”. This focused on tripling adaptation finance and accelerating action to keep within reach the Paris Agreement’s goal of limiting global heating to 1.5°C above pre-industrial levels. This target was established in an effort to reduce the extreme weather events and impacts of climate change, and collective action from the gathered nations is essential in achieving this goal.
Despite the agreed commitments, many found the outcomes of the climate summit frustrating1, primarily due to there being no mention of a roadmap to transition away from fossil fuels. Below, we’ve summarised some of the key takeaways from the conference:
Successes from COP30
‘Adaptation finance’ was tripled from the original $40 billion agreed in COP26. This funding is aimed to assist communities that are most vulnerable to the impacts of extreme weather in adapting to, and reducing, the risks they face. However, this new target is delayed from the previous target of 2030 to 2035, and lacks a specific baseline year to triple the amount from.
Positively, the conference included the Tropical Forest Forever Facility (TFFF)2, which received $6.7 billion to protect tropical forests. As forests are natural carbon sinks and can therefore limit the impact of climate change, it’s positive to see such initiatives supported. Additionally, the Belém Gender Action Plan recognised the distinct needs of those who are often at the frontlines of climate change in climate-related policies – Indigenous women, women of African descent, and disabled women3.
The transition away from fossil fuels
To the disappointment of many of the gathered nations4, COP30 did not make any progress on establishing a formal roadmap to phase out fossil fuels globally in a just and equitable manner. Despite the support of the roadmap from various nations, including the UK and the EU, some nations insisted that they shouldn’t be limited in their fossil fuel production, as they rely on fossil fuel production to grow their economies5. This division meant that discussion around fossil fuels was deemed unproductive.
However, progress is set to continue outside of COP. The COP30 presidency provided assurances that a fossil fuel transition plan, as well as a roadmap to prevent deforestation, will continue to be developed with those who are willing to be involved, including over 80 nations who asked for the roadmap at COP30. The first International Conference for the Phase-Out of Fossil Fuels will be hosted by the Netherlands and Colombia in Santa Marta, Colombia, on 28th-29th April 2026, to make progress on formalising these plans.
Statkraft at COP30
As part of the Statkraft Group, we were also proud to see Statkraft’s CEO Birgitte Ringstad Vartdal at the climate summit, inaugurating Statkraft’s Morro do Cruzeiro Solar and Santa Eugênia solar plants, which are located in Bahia, Brazil6. In autumn, Statkraft will also be commissioning its Serrita solar farm in Pernambuco, Brazil. Together, these three projects will generate 789GWh of solar power annually, whilst creating employment opportunities and enhancing local infrastructure.
Many nations may have been disappointed with the progress made at this year’s COP, especially in the lack of progress that was made in establishing any specific plan to phase out the use of fossil fuels. Nevertheless, it’s positive to see such enthusiasm from a large group of nations to seriously discuss the transition away from fossil fuels and to take significant actions to limit global emissions and climate change impacts. We look forward to seeing how the plan to conduct a global phase-out of fossil fuels continues in the future.
If you’d like to find out more about the outcomes of COP30, visit here.