COP30 Enters Decisive Week as Ministers Tackle Finance, Adaptation and Fossil-Fuel Pathway

Overview

• Roughly 160 ministers opened the high-level plenary in Belém to negotiate climate finance, adaptation indicators and implementation of emissions targets.
• Following the 70,000‑person People’s Summit and indigenous protests, COP30 president André Corrêa do Lago will present civil-society demands while stressing the UN’s consensus requirement.
• A potential roadmap to phase down fossil-fuel dependence is on the table with Latin American backers, though its inclusion in formal text remains uncertain.
• Developing countries pressed for about US$1.3 trillion annually in public climate finance, far above the US$300 billion target set at COP29, with Paris Agreement Article 9.1 obligations under scrutiny.
• Private finance pledges surged in week one, including Brazil’s Tropical Forests Forever Fund at roughly US$5.5 billion, even as major public funding commitments remain unresolved.