By Abbas Nazil
Midway through COP30 in Belém, global climate negotiations have reached a decisive turning point as countries struggle to make progress on key issues, with finance emerging as the central barrier to implementation.
Initially billed as the first major “implementation COP” since the Paris Agreement, the conference was expected to deliver meaningful action on Just Transition, adaptation, and accountability.
However, delegates and observers now warn that without addressing the widening finance gap between developed and developing nations, COP30 risks repeating years of unfulfilled commitments and weakening global trust.
President Lula opened the summit by calling for a “COP of Truth,” urging countries to confront the inequalities that deepen climate impacts, particularly for vulnerable communities such as Afro-descendant groups, women, and children.
The first week saw intensified efforts to counter climate misinformation and ensure transparent communication, though negotiations revealed deeper political tensions.
Developing countries expressed frustration that their priorities—especially finance and equity—risk being sidelined despite repeated calls to address responsibility and fair burden-sharing.
In the Just Transition negotiations, G77+China proposed a Global Mechanism for Just Transition, marking a significant shift echoed by civil society demands for a Belém Action Mechanism.
While the EU also supported a form of institutional arrangement, wealthy countries pushed back strongly, arguing no new mechanism is needed, despite evidence that existing structures cannot meet global transition needs.
Trade disputes have also surfaced, with developing nations insisting that unilateral measures such as the EU’s CBAM must be addressed, while developed countries reject such discussions.
Carbon market negotiations added further tension as attempts by some parties to weaken human rights safeguards raised concerns about environmental integrity.
Finance remains the core sticking point across all tracks, from adaptation to Just Transition.
Developing countries argue they cannot implement climate plans without predictable, grants-based funding, while developed nations resist language implying obligation, widening distrust.
The Loss and Damage Fund’s first call for proposals was launched, but its $250 million allocation for 2025–26 falls far short of global needs.
Adaptation discussions signaled recognition of the urgent need to triple funding by 2030, yet delivery remains uncertain.
Outside the negotiation halls, more than 70,000 people marched in Belém, calling for fossil fuel phase-out, protection of Indigenous rights, and an end to extractive injustices.
As ministers prepare for high-level talks in the second week, negotiators face mounting pressure to bridge divides, confront the finance gap, and deliver concrete progress that reflects the urgency voiced by communities already suffering the consequences of climate change.
