Berliner Boersenzeitung - Fossil fuel fight threatens to sink COP30 as EU rejects Brazil's draft

EUR -
AED 4.239835
AFN 72.157279
ALL 95.998152
AMD 436.864052
ANG 2.066211
AOA 1058.658947
ARS 1611.065048
AUD 1.620803
AWG 2.080953
AZN 1.957073
BAM 1.954744
BBD 2.321846
BDT 141.943337
BGN 1.902177
BHD 0.435925
BIF 3442.770398
BMD 1.154481
BND 1.475616
BOB 8.001678
BRL 5.952967
BSD 1.158874
BTN 106.658394
BWP 15.536609
BYN 3.421052
BYR 22627.836822
BZD 2.323445
CAD 1.568784
CDF 2514.460879
CHF 0.902345
CLF 0.026237
CLP 1035.985029
CNY 7.926959
CNH 7.945967
COP 4276.857421
CRC 546.019286
CUC 1.154481
CUP 30.593759
CVE 110.205479
CZK 24.406885
DJF 206.358547
DKK 7.471885
DOP 70.313851
DZD 151.801585
EGP 59.880532
ERN 17.317222
ETB 179.454064
FJD 2.543548
FKP 0.86135
GBP 0.863298
GEL 3.134358
GGP 0.86135
GHS 12.556218
GIP 0.86135
GMD 84.852826
GNF 10159.688809
GTQ 8.885201
GYD 242.798866
HKD 9.034799
HNL 30.676096
HRK 7.537631
HTG 152.060507
HUF 389.691182
IDR 19523.436148
ILS 3.610121
IMP 0.86135
INR 106.607709
IQD 1517.889553
IRR 1525964.745609
ISK 144.806767
JEP 0.86135
JMD 181.522747
JOD 0.818539
JPY 183.614484
KES 149.216354
KGS 100.958906
KHR 4651.568295
KMF 491.80909
KPW 1039.071647
KRW 1709.983624
KWD 0.354356
KYD 0.965557
KZT 569.131134
LAK 24822.475867
LBP 103832.920374
LKR 360.240191
LRD 212.065465
LSL 18.974169
LTL 3.408884
LVL 0.698334
LYD 7.371019
MAD 10.84924
MDL 19.984207
MGA 4804.405166
MKD 61.672205
MMK 2424.434393
MNT 4121.664055
MOP 9.341282
MRU 46.27421
MUR 53.001711
MVR 17.837066
MWK 2009.414725
MXN 20.493027
MYR 4.537693
MZN 73.782663
NAD 18.974169
NGN 1615.777771
NIO 42.647705
NOK 11.161123
NPR 170.658263
NZD 1.956205
OMR 0.443907
PAB 1.158874
PEN 3.971655
PGK 4.993368
PHP 68.833682
PKR 323.811411
PLN 4.258143
PYG 7510.943378
QAR 4.225518
RON 5.090806
RSD 117.395725
RUB 91.46417
RWF 1693.385411
SAR 4.331472
SBD 9.288014
SCR 16.656048
SDG 693.843153
SEK 10.696935
SGD 1.473026
SHP 0.86616
SLE 28.401117
SLL 24208.898446
SOS 661.145782
SRD 43.262463
STD 23895.435551
STN 24.487093
SVC 10.138251
SYP 128.005833
SZL 18.972753
THB 36.832
TJS 11.107601
TMT 4.040685
TND 3.396166
TOP 2.779715
TRY 50.929142
TTD 7.862766
TWD 36.740193
TZS 3005.115324
UAH 51.087808
UGX 4281.687483
USD 1.154481
UYU 46.614824
UZS 14077.62863
VES 505.267174
VND 30331.691674
VUV 138.073817
WST 3.133752
XAF 655.602912
XAG 0.013548
XAU 0.000224
XCD 3.120044
XCG 2.08831
XDR 0.81536
XOF 655.602912
XPF 119.331742
YER 275.449437
ZAR 19.146873
ZMK 10391.7183
ZMW 22.539826
ZWL 371.742562
  • RBGPF

    0.1000

    82.5

    +0.12%

  • RYCEF

    -0.3300

    17.35

    -1.9%

  • CMSC

    -0.0100

    23.24

    -0.04%

  • GSK

    -0.1700

    55.15

    -0.31%

  • RIO

    0.4000

    92.08

    +0.43%

  • BP

    1.6200

    41.56

    +3.9%

  • VOD

    -0.0600

    14.4

    -0.42%

  • CMSD

    0.0700

    23.15

    +0.3%

  • BCE

    -0.5000

    25.89

    -1.93%

  • NGG

    -0.1600

    89.69

    -0.18%

  • BTI

    -0.2500

    59.16

    -0.42%

  • RELX

    -0.4300

    34.76

    -1.24%

  • BCC

    -0.6400

    71.9

    -0.89%

  • JRI

    0.2100

    12.85

    +1.63%

  • AZN

    -1.6800

    193.31

    -0.87%

Fossil fuel fight threatens to sink COP30 as EU rejects Brazil's draft
Fossil fuel fight threatens to sink COP30 as EU rejects Brazil's draft / Photo: Pablo PORCIUNCULA - AFP

Fossil fuel fight threatens to sink COP30 as EU rejects Brazil's draft

The clock was ticking down on the slated final day of UN climate talks in Brazil Friday where a bitter fight over whether to mention fossil fuels in any agreement threatened to upend the event.

Text size:

At stake at COP30 is securing a deal that paves the way for faster cuts to planet-warming emissions that are driving ever more extreme weather -- and proving that international cooperation can still function in a fractured world.

After nearly two weeks of negotiations in the Amazonian city of Belem, a new draft agreement unveiled by COP30 host Brazil made no mention of "fossil fuels" or the word "roadmap" that President Luiz Inacio Lula da Silva had himself publicly championed.

European Union climate commissioner Wopke Hoekstra said the text was "unacceptable" and that the summit risked ending without an agreement.

"I am saying it with a heavy heart, but what is now on the table is clearly no deal," Hoekstra told reporters.

Speaking on condition of anonymity, a European delegate said the bloc was being cast as "villains" for refusing to back the deal. Some member states were weighing a walkout, the delegate added, while others feared being blamed if the talks collapsed.

The conference, which was disrupted for several hours by a fierce blaze Thursday that tore a hole in the venue's roof -- as well as by two Indigenous-led protests last week -- was supposed to end on Friday evening at 6:00 pm (2100 GMT).

Well after that time, countries were sending staff back to their hotels, with the summit likely to spill over into the weekend.

- Consensus required -

Thirty-six countries -- including wealthy nations, emerging economies and small island states -- had warned in a letter to Brazil that they would reject any deal that did not include a plan to move away from oil, coal and gas.

France's ecological transition minister, Monique Barbut, told AFP that oil-rich Russia and Saudi Arabia, along with coal producer India and "many" emerging countries, were blocking the language.

Arunabha Ghosh, a special envoy for South Asia at the talks, shot back against "finger pointing."

"To assume that one side cares about the planet and the other side, because they are unhappy with the formulation, does not care about the planet does grievous harm to the spirit of negotiations," he told AFP.

Ghosh defended the exclusion of the "roadmap," arguing developing countries needed to ensure energy security and a just transition for their workers dependent on fossil fuel sector.

Consensus is needed among the nearly 200 nations to land an agreement at the UN climate conference, which this year is taking place without the United States as President Donald Trump shunned the event.

The head of COP30, Brazilian diplomat Andre Correa do Lago, said ruefully that those who doubt that cooperation is the best way forward for climate change "are going to be absolutely delighted to see that we cannot reach an agreement between us."

- Money fight -

The push for a phaseout of oil, coal and gas -- the main drivers of global warming -- grew out of frustration over a lack of follow-through on the COP28 agreement in Dubai in 2023 to transition away from fossil fuels.

Divisions also remain over trade measures and finance for poorer nations to adapt to the impacts of climate change, such as floods and droughts, and move to a low-carbon future.

The rejected draft said there was a need for a "manyfold increase" in financial support for developing countries. It also called for "efforts to triple adaptation finance" by 2030 compared to 2025 levels.

"The EU is stuck with a much earlier tripling of adaptation finance than they're comfortable with and in exchange they got nothing," said Jake Schmidt, senior strategic director at the Natural Resources Defense Council, an advocacy group. "It's a tough pill to swallow," Schmidt told AFP.

It was another element the EU had not wanted included in the agreement.

(S.G.Stein--BBZ)