COP30 Closes With Deal That Drops Fossil-Fuel Phase-Out From Final Text

Overview

• Negotiations ran past the deadline but wrapped in Belém with a package that excludes any reference to phasing out oil, gas or coal.
• COP30 president André Corrêa do Lago said the fossil-fuel “roadmap” will be launched as a Brazilian presidency initiative, not part of the agreed decisions.
• New drafts specify limited finance: a target to mobilize about USD 300 million for the Adaptation Fund in 2025 and named pledges totaling roughly USD 817.01 million for the Loss & Damage Fund.
• The Global Goal on Adaptation framework advances with fewer metrics, cutting indicators from 100 to 59, as the UN chief urges tripling adaptation finance to USD 120 billion a year by 2030.
• Scientists and many countries criticized the outcome as insufficient, even as the EU signaled a path to adoption; the summit also faced a venue fire and police-flagged security irregularities.