Overview
- Brazil’s two-stage plan to lock in an initial package slipped past the Wednesday target, with a revised draft now due Thursday after overnight talks.
- Around 80 countries led by Colombia are pressing for a detailed roadmap to transition away from oil, coal and gas, while resistance from oil producers such as Saudi Arabia persists and China has signaled opposition.
- The EU floated a late proposal for a non‑prescriptive fossil‑fuel roadmap, seeking to broaden support without imposing country‑specific obligations.
- Finance remains a sticking point, with the presidency draft proposing clearer developed‑country contributions and a tripling of adaptation funding as EU officials signal no increases and debates continue over the $300 billion pledge and trade measures like the EU’s carbon border policy.
- A separate compromise for COP31 is taking shape with Türkiye set to host and Australia to preside over negotiations, even as plans to launch a UN carbon market are held up by disputes over start‑up funding.