OPEC Fund Quarterly - 2025 Q3

CLIMATE ACTION

COP30

The road to Belém and Just Transitions T he golden thread now leads to COP30 in the Amazonian city of adaptation action. This moves the focus onto communities and ecosystems

Belém. This is where countries will know whether we are on track to maintaining the 1.5°C and global resilience targets. The stakes are high and the political environment is difficult, particularly with the withdrawal of the world’s largest emitter – the USA – from the Paris Agreement, effective January 2026. The Brazilian COP30 Presidency has called for global leadership and solidarity to rise to the occasion and deliver through mutirão , a local term that refers to collective effort. The global spirit and joint ownership of the process is more important than ever. In some ways the “return to Brazil” (see next story) invites us to review our common purpose as delivery is not on track. An emerging focus area for Belém is Just Transitions. Parties, faced with the challenges of implementation, are prioritizing this discussion to ensure that the shift to a low-carbon economy creates opportunities for decent work, protects local communities and is aligned with social and economic priorities. This focus resonates deeply with the work started at COP28. It is a pragmatic approach that recognizes that real climate action happens on the ground, in communities and in economies. COP30 will be the moment to deliver on all three pillars of the GST. The emphasis on nature links well with adaptation outcomes, whereby the UAE-Belém Work Programme will bring forward measurable and implementable indicators, enabling enhanced

that are already facing climate impacts and makes adaptation a verifiable and fundable pillar of climate action. Ultimately, means of implementation will, as always, be a precondition for success. Through the Action Agenda and negotiations combined, there needs to be a resounding demonstration of continued commitment by donor countries, IFIs, the private sector and the international community to mobilize the US$1.3 trillion ahead of 2035, as set out in Baku. The road from one COP to the next is often long and winding – but the connections are clear for all to see. The last three were a testament to a stubborn optimism: that global climate diplomacy, despite all its imperfections, continues to be the indispensable framework for a shared future on a still livable planet.

The Brazilian COP30 Presidency has called for global leadership and solidarity through mutirão, a local term that refers to collective effort.

The Amazonian city of Belém hosts COP30

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