COP30 Concludes A Mixed Bag: India Wins Some But Little Headway On Finance
Yet another annual global climate conference ended with little to show as progress, with countries failing to even mention a phase-out of earth-warming fossil fuels in the final text. The Belém package, named after the Brazilian city where the conference was held, also did little to raise ambition on climate finance and adaptation goals while maintaining the need to keep the world from overshooting the 1.5 degrees Celsius temperature ceiling set by the Paris Agreement. India’s pursuit of discouraging unilateral trade measures found mention in the final text. The European Union’s Carbon Border Adjustment Mechanism essentially functions like a tariff based on carbon emissions for goods, which will be implemented from January 2026, as IndiaSpend reported this week. India had repeatedly called on parties to uphold the principles of common but differentiated responsibilities, scale up adaptation finance and prevent trade protectionism. “It will take nothing less than a global collective effort to increase climate finance to the levels articulated in the Baku to Belém Roadmap to $1.3 trillion,” Union minister Bhupender Yadav had said in Belem earlier in the week. The conference also adopted to establish a two-year work programme on climate finance, including in the context of Article 9 of the Paris Agreement as a whole, something that India had pushed for. The Global Goal on Adaptation has called for efforts to at least triple adaptation finance by 2035. At the time of going to press, countries including Colombia had objected to various aspects of the conference process pertaining to the text on Global Goal on Adaptation and Mitigation Work Program. However, all the texts were gaveled later and it was decided that these countries could take up their concerns at a later conference. The final text from Belém ended up with the COP President setting up two separate roadmaps, one on halting and reverting deforestation and another to transition away from fossil fuels. However, these did not find mention in the final text and are therefore, not binding. “The goal of tripling adaptation finance remains vague with no specific accountability of contributors; the work programme on Article 9 could provide a critical space for developing countries to scrutinize finance flows, while new dialogues on trade measures can elevate the issue of unilateral measures like EU CBAM within the COP process,” said Avantika Goswami, programme manager at the Centre for Science and Environment in a press release. “Elsewhere the just transition mechanism is a win for civil society and developing countries. Beyond talk shops however, this COP has delivered little else.”
