COP30 talks in Brazil reach tentative deal, sources say
COP30 climate talks in Brazil have reached an interim agreement after negotiators resolved a long-running dispute over action to cut greenhouse gas emissions and climate finance, sources said.
The two-week conference, billed as a chance to show that countries can join forces to fight climate change despite the US’s absence, was scheduled to end Friday but was extended on Saturday as negotiators tried to resolve the impasse.
Sources said the deadlock was resolved after all-night talks led by host Brazil, although the text of the final agreement has not yet been published and details of the compromise were not immediately clear.
The European Union has agreed not to stand in the way of the deal, two sources familiar with the matter told Reuters on Saturday morning.
Any agreement needs consensus to be approved.
Talks have been deadlocked over the balance between advancing implementation of a 2023 pledge to move away from fossil fuels and the flow of climate finance from developed countries to poorer countries to adapt to the effects of global warming.
The European Union has been pushing to move away from fossil fuels but has faced stiff resistance from Arab Group countries, including Saudi Arabia.
COP30 President Andre Correa do Lago said on Saturday that the presidency would issue a side text on fossil fuels and forest protection as global climate talks have failed to reach consensus on these issues.
“I will announce that the Brazilian presidency will make two ‘road maps’ because we apparently lacked the maturity to reach consensus. If we do this during the presidency, I believe we will get results,” he said.
Delegates also agreed that rich countries should triple adaptation financing for developing countries by 2035, according to a source familiar with the negotiations; This builds on the goal of doubling the 2025 target.
The decision, which will be part of the COP30 agreement, will encourage rich countries to increase financing to help poor countries cope with the effects of climate change.
