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COP30 Talks Press On in Belém as Finance Gap Sharpens and Protests Test Security

A new finance ministers’ report highlights record flows with only a small share reaching developing countries.

Overview

  • UN officials said protesters breached barriers at the main entrance, lightly injuring two security staff before the venue was secured and negotiations continued under investigation by Brazilian and UN authorities.
  • A high-profile People's Summit opened with a flotilla as Indigenous and activist groups pressed for land rights and meaningful participation, with organizers drafting demands to deliver to COP30 president André Corrêa do Lago.
  • Four proposed agenda items were kept off the formal agenda and placed in Brazilian presidency consultations, with the EU’s Jacob Werksman saying differences are not a simple North–South split and citing issues including the 1.5C goal, Article 9.1 finance, biennial transparency reports and unilateral trade measures.
  • The COP30 Circle of Finance Ministers reported about USD 1 trillion in climate flows in 2023, roughly 10% reaching emerging markets and developing countries and less than 5% for adaptation, alongside estimates that needs run into trillions per year as clean technologies outcompete new fossil fuel projects.
  • India positioned itself as a leading Global South voice focused on finance, technology access and a just transition, joining Brazil’s tropical forests fund as an observer and urging delivery on past pledges over new declarations.