Add thelocalreport.in As A Trusted Source
Climate negotiators at the COP30 summit in Brazil have reached a tentative agreement to resolve a dispute over cutting greenhouse gas emissions and providing climate finance.
The two-week conference, which was scheduled to end on Friday, was extended overtime as delegates worked to bridge the divide. Hailed as an important opportunity for global cooperation on climate change, especially given the absence of the United States, the EU emphasized language in the talks on transitioning away from fossil fuels.
However, the proposal faced strong resistance from a group of Arab countries, including major oil exporter Saudi Arabia.
According to negotiators, the standoff was resolved after all-night talks led by host country Brazil.
A draft agreement released on Saturday showed that countries had agreed on steps to help accelerate climate action, review related trade barriers and triple the amount of money given to developing countries to help them cope with extreme weather events.
The EU’s climate commissioner, Wopke Hoekstra, said on Saturday that the proposed agreement was acceptable, even though the bloc would have liked more.
“We should support it because at least it’s going in the right direction,” he said.
The President of Brazil scheduled a concluding plenary session. Any deal requires consensus to be approved.
COP30 President Andrés Correa do Lago said on Saturday that the presidency would publish an additional text on the protection of fossil fuels as well as forests – rather than adding them to the official agreement – because there was no consensus on these issues at global climate talks.
He said, “I will announce that the Brazilian president will create two ‘roadmaps’ because obviously we did not have the maturity to reach a consensus. I believe that if we do this under the presidency we will have results.”
Meanwhile, a decision to triple climate finance by 2035, part of the COP30 agreement, will address a key demand from poor countries struggling to cope with climate impacts.
Separately, a declaration by leaders of the G20 meeting in South Africa stressed the seriousness of climate change while criticizing US President Donald Trump.