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News Topical, Digital Desk : A deal has been virtually reached at the United Nations Conference of the Parties (CAP-30) climate summit in Brazil. Negotiators have resolved a long-standing impasse over greenhouse gas emission reductions and climate funding.
The conference, which began on November 10 in Belém, Brazil, was due to end on Friday, but negotiators are still trying to reach a consensus beyond that deadline. A deadlock between the European Union and Arab countries, including Saudi Arabia, over fossil fuels was resolved after overnight talks brokered by host country Brazil.
The draft released on Saturday showed that countries have agreed to accelerate efforts to combat climate change, review related trade barriers and triple funding to help developing countries cope with extreme weather events. The European Union's climate commissioner, Wopke Hoekstra, said on Saturday that the proposed agreement is acceptable . Any agreement needs consensus to be approved.
No consensus reached on the issue of fossil fuels
COP30 President André Correia do Lago said on Saturday that a roadmap will be released on fossil fuels and forest protection. It will not be included in the official agreement because no consensus was reached on these issues in global climate talks. The decision to triple climate funding by 2035 will be part of the COP30 agreement, addressing a key demand of poor countries struggling to cope with climate impacts.
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