Crandi

The Cop30 Mutirão Decision And What It Means For The Global Finance

Leo Migdal
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the cop30 mutirão decision and what it means for the global finance

A voluntary plan to curb fossil fuels, a goal to triple adaptation finance and new efforts to “strengthen” climate targets have been launched at the COP30 climate summit in Brazil. After all-night negotiations in the Amazonian city of Belém, the Brazilian presidency released a final package termed the “global mutirão” – a name meaning “collective efforts”. It was an attempt to draw together controversial issues that had divided the fortnight of talks, including finance, trade policies and meeting the Paris Agreement’s 1.5C temperature goal. A “mechanism” to help ensure a “just transition” globally and a set of measures to track climate-adaptation efforts were also among COP30’s notable outcomes. Scores of nations that had backed plans to “transition away” from fossil fuels and “reverse deforestation” instead accepted COP30 president André Corrêa do Lago’s compromise proposal of “roadmaps” outside the formal UN regime. COP30’s long-anticipated Global Mutirão package delivers a mixed bag of results, with mentions of fossil fuel phaseout completely absent from the final text.

Indigenous peoples and civil society voices call out a “People’s COP” undermined by incidents of state-led repression and lip service on inclusion in decision-making. Brazil and Columbia set the tone for independent, coalition-based action to address fossil fuels amid UNFCCC negotiation breakdown. Türkiye and Australia strike a shaky deal on COP31 hosting rights, with the fate of Pacific SIDS left hanging in the balance. This year’s UN Climate Change Conference, taking place at the edge of the Brazilian Amazon, set out with high hopes, aiming to restore faith in a multilateral system under unprecedented pressure at a moment... Two weeks later, the curtain has finally come down on COP30, colored by novel initiatives, last-minute deadlocks, extreme weather, a sudden fire and civil society pushback.

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