COP30’s Weak Deal Unlikely to Shift Renewables - Fossil Fuel Battle

The weak statement that omitted any mention of fossil fuels was probably the best outcome that could have been realistically expected of the COP30 climate summit.

It was always going to be a tall order to put nearly 200 countries with massively different perspectives together and deliver a strong statement that commits to combating climate change.

The question to ask after the summit in the Brazilian city of Belem is: Does what the concluding statement says, and doesn't say, actually matter?

Assume that the environmentalists had got their way with a strong communique that made firm commitments to phase out fossil fuels in a timeline that would meet ambitious climate targets.

Would this alter the views of major crude oil producers and exporters such as Saudi Arabia, Russia and the United States?

Would these countries decide to scale back their investment in fossil fuels and switch their efforts to building renewable energies such as wind, solar and battery storage?

It would be highly unlikely that even a bold statement on meeting climate targets would alter the behaviour and plans of the major fossil fuel producers.

Countries with vast reserves of fossil fuels are still likely to develop them for domestic use