COP30: news and significant moments for boards

• COP30 has closed with a deal agreed by the 195 of the parties involved in the talks. Though this final agreement featured no direct reference to the phase out of fossil fuels, it includes important progress on climate adaptation and deforestation.  
• COP30 President, André Corrêa do Lago, said: “As we leave Belém, this moment must not be remembered as the end of a conference, but as the beginning of a decade of turning the game. The spirit we built here does not end with the gavel; it continues in every government meeting, every boardroom and trade union, every classroom, laboratory, forest community, large city, and coastal town.” 
• Key developments relevant to boards in the final agreement include the following important points: 

• The final text “calls for efforts to at least triple adaptation finance by 20-35”, emphasising the need for developed countries to significantly boost climate finance for developing nations. The ODI highlights that this goal is an achievement given the challenging geopolitical situation, but the language is not as strong as it could be.   

• Participants are finalising a comprehensive set of 59 voluntary, non-prescriptive indicators to track progress under the Global Goal on Adaptation. These indicators span all sectors, including water, food, health, ecosystems, infrastructure, and livelihoods, and integrate cross-cutting issues such as finance, technology, and capacity-building. 

• The Fostering Investible National Implementation (FINI) initiative was launched to make National Adaptation Plans (NAPs) investible. By bringing together countries, development banks, insurers, and private investors, FINI aims to unlock USD 1 trillion in adaptation project pipelines within three years, with 20% mobilized from the private sector. 

• The new Tropical Forests Forever Facility (TFFF) introduced a first-of-its-kind mechanism to deliver long-term, results-based payments to tropical forest countries for verified conservation of standing forests. The facility mobilized over USD 6.7 billion in its first phase, with endorsement from 63 countries, establishing a permanent capital base for forest protection. 

• The Belém Health Action Plan, endorsed by more than 30 countries and 50 organizations, elevated health as a frontline climate priority. 

• The Global Climate Finance Accountability Framework has been launched to strengthen transparency, credibility, and trust in climate finance delivery, reflecting a broader shift from fragmented pledges to coherent, measurable, and equitable financial support. 

• Ten countries announced support for the RAIZ Accelerator, a new initiative to restore degraded farmland and mobilize private capital. 

• The Gates Foundation pledged $1.4 billion to support smallholder farmers. 

• Outside of the formal agreement, the COP Presidency announced the creation of the Belém Roadmaps, two presidency-led initiatives aimed at building future momentum and processes around strategies and actions to implement the Global Stocktake, the Forest and Climate Roadmap and the Transitioning Away From Fossil Fuels Roadmap.   

• Reacting to the wider implications of COP30, Simon Stiell, Executive Secretary of the United Nations Framework Convention on Climate Change, said: “The global transition towards low greenhouse gas emissions and climate-resilient development is irreversible and the trend of the future. This is a political and market signal that cannot be ignored.” 

• Rt Hon Ed Miliband MP, Secretary of State for Energy Security and Net Zero, echoed this sentiment, saying: “The message coming out of Belém was clear: despite the noise, clean energy and climate action remain the foundation on which the global economy is being remade and rebuilt.” 

• Yesterday evening, COP30 President André Aranha Corrêa do Lago issued the 11th letter from the presidency calling for a "true mutirão – a collective mobilization of minds, hearts, and hands", proposing to focus the week ahead on "issues that are interrelated and interdependent" in order to make real progress: Eleventh Letter from the Presidency
  
• Today, momentum increased around the call for a global roadmap to transition away from fossil fuels: Cop30 live: Ministers from global north and south unite in call for a roadmap away from fossil fuels
• A first draft deal of COP30 talks has been unveiled with President Luiz Inacio Lula da Silva returning to Belem to push momentum on the deal forward: Lula to return to COP30 as first draft climate deal lands; the draft covers key areas, including:  trade measures, demands for greater finance for poorer nations, and the inadequacy of national carbon-cutting pledges
• Sustainable cooling has emerged on the agenda as a key opportunity area for innovation and technology scale-up. As cooling is increasingly adopted across parts of the world experiencing marked temperature increases, the associated emissions from conventional cooling systems are becoming one of the fastest-growing sources of greenhouse gas emissions. However, AI, coupled with renewable technology innovation is being seen as a growth area: Keeping cool on a hotter planet: COP30 pushes for sustainable cooling and AI innovation | UN News
• This year's COP30 has seen the launch of the first ever Bioeconomy Challenge, designed to mobilize large-scale investment for nature-based growth by 2028: At COP30, Brazil and global partners unveil the Bioeconomy Challenge to scale sustainable investment in nature - NatureFinance
• The publication of the Global Methane Status Report 2025 highlights that national methane plans submitted to date could deliver the largest sustained decline in methane emissions in history if fully implemented. “The Global Methane Pledge has transformed ambition into tangible progress. Across sectors and continents, countries and companies are proving that methane reductions are achievable - and deliver cleaner air, stronger economies, and a safer climate. Our task now is to scale these solutions rapidly, working together to keep 1.5°C within reach and secure a healthier future for our people and our planet.”- Dan Jørgensen, European Commissioner for Energy and Housing. Global Methane Status Report 2025 | UNEP - UN Environment Programme

Today marks the start of week 2 at COP30. The week ahead will cover key themes around putting people at the centre of progress and ensuring an integrated approach to climate and nature.

• The COP Presidency has issued a summary note to reflect on discussions so far and the focus of the week ahead. Headlines include:
  • The importance of a multilateral approach and a recommitment to the Paris Agreement
  • How trade is a key element of the climate change conversation
  • The urgency of addressing the 1.5C ambition and the implementation gap
  • The need to centre people in the negotiations and consider the just transition.
  • 20251116_Sum_Pres_Cons.pdf
• UN Climate Change Executive Secretary Simon Stiell delivered opening remarks this morning addressing the headwinds, saying: “We are all aware of the headwinds. But I also sense a deep awareness of what's at stake, and the need to show climate cooperation standing firm in a fractured world. I sense a real determination to build on the major progress of recent COPs, and show – once again – that climate cooperation is working to deliver real progress, though needs to work faster and fairer.” COP30 needs to show "climate cooperation standing firm in a fractured world": Simon Stiell at start of week two of COP30 | UNFCCC
• The UK, Germany, seven multilateral funds, and other institutions endorsed the Utilities for Net Zero Alliance (UNEZA) commitment to expand its annual investment target for renewable energy transmission and storage systems from USD 117 billion to USD 148 billion. There was a crucial acknowledgement that while the energy transition is gaining momentum, the challenges lie in the enabling infrastructure, including grid efficiency, resilience, and distribution capacity. Power Sector Companies Raise Investment Target in Clean Energy Grids to USD 148 Billion per Year
• 18 countries reaffirmed their support for the Open Coalition on Compliance Carbon Markets, including Brazil, China, the European Union, the United Kingdom, Canada, Chile, Germany, Mexico, Armenia, Zambia, France, Rwanda, Andorra, Guinea, New Zealand, Monaco, Singapore, and Norway. The European Union's Commissioner for Energy and Climate Action, Dan Jørgensen commented: "The use of high-quality credits must align with the standards and principles established under the Paris Agreement. The coalition can establish a benchmark to fully integrate relevant standards into final national targets and the design of domestic carbon markets." Carbon Market Coalition Welcomes 18 Member Countries at COP30
• Late evening on Friday, 35 countries, international organizations, and initiatives pledged their support for the Belém Declaration for Green Industrialization. The declaration details environmental, economic, and social goals "aimed at reshaping the global landscape, driving technological innovation, and establishing a sustainable model of economic growth." COP30 launches Belém Declaration and strengthens the global green industrialization agenda
• The first ever Planetary Science Pavilion has been launched as part of COP30 to place science at the heart of COP. COP30 Launches the First Planetary Science Pavilion, Placing Science at the Center of Climate Decision-Making

• One of the headline topics for today at COP is the energy transition. Countries including the UK, Germany, France, Denmark, Colombia and Kenya have backed the idea of a "roadmap" for phasing out fossil fuels. This initial coalition of countries is seeking to broaden support to build on the language agreed in Dubai in 2023 for parties to "transition away from fossil fuels in energy systems, in a just, orderly and equitable manner." However, with the IEA predicting that oil and gas demand could still rise over the next 25 years, there is a long way to go on agreement of such a roadmap. Sources: Fight over fossil fuels drawdown looms at UN climate summit; At COP30, roadmap away from fossil fuels wins support; World Energy Outlook 2025 – Analysis - IEA
• The University of Exeter and Future Earth have released the annual Global Carbon Budget. Key findings include:
  • Global CO2 emissions from fossil use are projected to rise 1.1% in 2025
  • Global CO2 emissions from land-use change are expected to decrease in 2025, driven by reductions in deforestation and degradation fires in South America
  • Total anthropogenic CO2 emissions – the sum of fossil and land-use change emissions – have grown more slowly in the past decade1 (0.3% per year on average), compared to the previous decade (1.9% per year)
  • The remaining carbon budget to limit global warming to 1.5°C is virtually exhausted
  • The land CO2 sink is set to recover to its pre-El Niño strength in 2025, after a strong decrease in 2024
  • The concentration of CO2 in the atmosphere is set to reach 425.7 parts per million in 2025
  • Global Carbon Budget | Home
• The Taskforce on Net Zero Policy has reviewed the momentum around climate policy since the Paris Agreement, finding that the number of such targeted policies in G20
  has tripled. Policy Matters
• The UK Government has released a report on climate change and mental health, reinforcing the increased focus on the nexus between climate and health seen throughout this week at COP: Climate change and mental health report - GOV.UK

• World Health organization advocates for putting health on the COP agenda. Tedros Adhanom Ghebreyesus, head of the World Health Organization, has categorically stated that "The climate crisis is a health crisis". Released at the end of October, the Lancet Countdown on Health and Climate Change, produced in collaboration with the World Health Organization (WHO), found that 12 of 20 key indicators tracking health threats have reached record levels, highlighting the health of a changing climate on populations across the world. Climate inaction is claiming millions of lives every year, warns new Lancet Countdown report.
• More than 35 leading philanthropies have formed the Climate and Health Funders Coalition, committing an initial $300 million "for integrated action to tackle both the causes of climate change and its consequences for health". This is an inaugural action under the Belém Health Action Plan – a landmark framework that places human health at the centre of global climate action. To explore the importance of the climate and health agenda for boards, read our latest insights piece: The climate crisis is a health crisis that demands a systemic response - Chapter Zero
• UN Climate Change Executive Secretary Simon Stiell said, “Humanity can only win this global climate fight if we connect stronger climate actions to people's top priorities in their daily lives.  And there are few higher priorities than our health.” The UN has announced new three-year collaboration with the Wellcome Trust to ensure robust health evidence to informs more climate policy-making. UN Climate Change Conference - Belém, November 2025 | UNFCCC
• Belém is also being named the "COP of truth" as the role of information integrity is being highlighted at the summit. The Global Initiative for Information Integrity on Climate Change launched it the Declaration on the Integrity of Information on Climate Change on Wednesday. Brazilian President Luiz Inácio Lula da Silva commented: "We live in an era in which obscurantists reject scientific evidence and attack institutions. It is time to deliver yet another defeat to denialism," Lula said, adding that COP30 will be the "COP of truth" in an era of "fake news and misrepresentation". 'COP of truth': Countries commit to tackling climate disinformation at UN climate summit | Euronews
• Gold Standard, Verra and the National Climate Change Secretariat of Singapore (NCCS) have issued a definitive protocol to support with verifying independent carbon crediting programs under Article 6.2 of the Paris Agreement, aimed at ensuring countries and private-sector entities can collaborate internationally through market-based mechanisms to fulfil nationally determined contributions (NDCs).  COP30: Singapore, Gold Standard And Verra Unveil Global Carbon Credit Protocol For Article 6.2
• Liverpool was spotlighted as the world’s first Accelerator City, part of a pilot to enable cities and the creative industries to work together in driving climate innovation. COP 30 live updates archive | UNFCCC

• IEA’s flagship World Energy Outlook (WEO) releases annual report, with analysis reflecting the latest energy data, technology and market trends, and government policies. An important theme in this year’s WEO is security of supply of critical minerals. World Energy Outlook 2025 – Analysis - IEA
• Landmark global report and initiative by Systemiq launched at COP30. The report presents a comprehensive plan to ensure that people remain at the heart of the transition. Jobs and skills for a people-centered climate transition
• Pollination publishes forest finance report, highlighting “the need to enhance the role of private finance for forests, not only because public funding for forests is insufficient, but because the private sector can support and scale the solutions that create enduring economic incentives for forests beyond political and government budgetary cycles.” https://pollinationgroup.com/financing-for-forests-report/
• Climate Bonds Initiative spotlight on the sustainable bonds investment pipeline predicts 4.4 trillion dollars of creditworthy, climate-related investment opportunities from just 12 climate leader countries in the next decade. 4-trillion-Investment-Opportunity.pdf
• WBSCD launches Emissions Reduction Accelerator (ERA) and action plan after findings from report with EY illustrates how to accelerate emissions reduction while improve business performance by 2030 by adopting a value chain approach. Emissions Reduction Accelerator | WBCSD
• In survey conducted by University of Oxford researchers, new and strengthened climate policies can be found across the world, especially in Asia and emerging markets since 2024. Developing countries are increasingly found to be setting the pace of climate action. However, policies remain insufficient to close the gap between targets and actions and prevent severe climate impacts. Climate policy strengthens globally, despite unprecedented contestation in the US and Europe | Blavatnik School of Government
• According to findings from InfluenceMap COP Platform Misinformation Tracker:
  • Use of pro-fossil fuel narratives has increased by a third, with over 3,700 instances of pro-fossil fuel messaging logged. 
  • Over a quarter (26%) of the fossil fuel companies and associations promoting these narratives attended COP29 and are expected to attend COP30. 
  • Since November 2024, just 20 fossil fuel companies and industry associations, mostly headquartered in North America and Oceania, have accounted for 47% of all fossil fuel narrative activity. 
• New ClientEarth report (Digital Distortion: How social media platforms are driving climate disinformation in Europe and beyond) analysis finds:
  • Social media platforms are incentivising and amplifying climate disinformation in the pursuit of advertising revenue.
  • The negative impacts of climate dis/misinformation include hindering emergency responses to save lives during extreme weather events, undermining public support for climate action, and obstructing “swift or successful” climate policy interventions.
  • Robust enforcement of the EU DSA is urgently needed to address the systemic risks of climate disinformation.
• Technological innovation elevated as a core pillar of adaptation at COP30: 
  • Newly launched Fund for Responding to Loss and Damage (FRLD) has opened its first call for proposals, allocating $250 million to accelerate assistance for vulnerable economies. 
  • A coalition of multilateral development banks (MDBs) reported that adaptation finance has doubled since 2019, surpassing $26 billion for low- and middle-income countries in 2024. 
  • Global partnership unveiled $2.8 billion in commitments and introduced the first open-source AI model for agriculture, with the goal of reaching 100 million farmers by 2028. COP30 Opens in Belém with Technology-led Adaptation Drive, Major Finance Pledges - ESG News

• The updated UNFCCC NDC Synthesis Report states 113 Parties have submitted new or revised Nationally Determined Contributions, covering 69% of global greenhouse gas emissions in 2019. Despite this progress, the report emphasizes that current efforts remain insufficient to meet the Paris Agreement goals, and stronger international cooperation and accelerated action are urgently needed. Unfcc.int 
• The Women and Gender Constituency released a Global Statement on Gender Equality and Climate Action at COP30, in strong support the adoption of a new ambitious and action-oriented Gender Action Plan (GAP) under the UNFCCC. 92 countries have signed the statement, which includes six commitment areas recognising how gender-responsive approaches can unlock greater opportunities and invite governments, civil society, and the private sector to work together toward a climate-resilient future. Global-Statement-on-Gender-Equality-and-Climate-Action_final-1.pdf 
• On 11th November 2025 Germany and Spain pledged $100 million to the Climate Investment Funds' new ARISE program, aimed at helping developing countries adapt to climate change. The initiative focuses on turning climate risks into economic opportunities by embedding resilience into development strategies and mobilizing finance from global institutions and the private sector. Climate resilience has been emphasized as a critical and urgent challenge, requiring innovative responses and significantly increased funding. https://buff.ly/Na5337s
• Analysis finds China's CO₂ emissions have been flat or falling since March 2024, with third-quarter 2025 emissions unchanged year-on-year. A 3% drop in emissions in September 2025 makes a full-year decline more likely, though the final outcome depends on fourth-quarter trends. https://www.carbonbrief.org/analysis-chinas-co2-emissions-have-now-been-flat-or-falling-for-18-months/ 
• According to WBCSD’s Business Breakthrough Barometer 2025, 91 % of business leaders say they have maintained or increased investments toward net-zero over the past year. As world leaders convene in Brazil, WBCSD spotlights efforts to scale investments in transport decarbonization solutions across regions and vehicle segments to support a just and inclusive transition. Business coalition collaborates to enable billions in transport and mobility decarbonization investments before 2030 | WBCSD 

• The Taskforce on Nature-related Financial Disclosures (TNFD) has welcomed the decision by the International Sustainability Standards Board to move into a standard-setting process on nature-related risks and opportunities drawing on the disclosure recommendations, metrics and guidance of the TNFD. TNFD welcomes ISSB decision on nature-related standard setting drawing on TNFD framework as adoptio…
• The World Meteorological Organization's State of the Climate Update for COP30 reveals that the past 11 years (2015-2025) are set to be the warmest on record, with each year surpassing previous temperature highs. Concentrations of heat-trapping greenhouse gases and ocean heat content, which both reached record levels in 2024, continued to rise in 2025. Arctic sea ice extent after the winter freeze was the lowest on record, and Antarctic sea ice extent tracked well below average throughout the year. State of the Climate Update for COP30
• The Atoms4Climate Pavilion is inaugurated on 10 November with a virtual address by IAEA Director General Rafael Mariano Grossi. The IAEA presence at COP30 spotlights the potential role of nuclear energy in the clean energy transition. IAEA at COP30: Nuclear Energy, Technology and Science Shaping a Sustainable Future
• The World Resources Institute has proposed five key actions that governments can take to deliver climate progress. Their focus on near-term sectoral action signals the need for greater business collaboration to determine pathways that work across industries. The five proposed actions are:
  • Reaffirm 1.5 degrees C and commission a global roadmap for ambition and implementation.
  • Accelerate near-term sectoral action to deliver 2030 global goals.
  • Mobilize long-term strategies for equitable, resilient transitions to net zero.
  • Strengthen intergovernmental initiatives for greater impact.
  • Deliver a credible finance package to back ambitious climate goals. 5 Ways COP30 Can Deliver on Countries’ Climate Plans | World Resources Institute
• LSEG has released key insights on the latest transition and physical risks in its COP30 Net Zero Atlas with further insights to be shared throughout COP30. Key findings include:
  Transition risks
  • Policy momentum: over 70 countries have announced new 2035 targets (including China, Russia, the EU, the UK and Brazil). The US has withdrawn from the Paris Agreement. As of 4/11/25, India was yet to detail its updated emissions pathway.
  • Temperature alignment: Currently, collectively G20 commitments for 2035 align with a projected temperature increase of 2.2–2.3°C, falling short of the 1.5°C target set out in the Paris agreement.
  • Accelerated cuts: In some cases, such as the UK and Australia, where emissions may have already peaked, current targets suggest faster decarbonisation trajectories.

Physical risks

• • Physical climate risks could put 839 million people and US$28.3 trillion at risk in 2050 across 8 G20 economies (US, China, Japan, Türkiye, Germany, the UK, France, Italy)
  • Cyclone risks are likely to increase across major cities, 839 million people and US$28.3 trillion at risk in 2050
  • Over 327 million people globally could face extreme heat (>35°C for 30+ days/year) by 2050
  • UK is most exposed to flood risk out of these 8 economies. According to the analysis: "The Thames Estuary could face $100 billion in GDP at risk, with national exposure rising to 9.7% of GDP by 2050."
  • Wildfire risk will magnify across the globe, potentially resulting in 16.4 million people being exposed.
• The Tropical Forest Forever Facility (TFFF) has been launched with the TFFF Launch Declaration, which has already received endorsements from 53 countries, including 19 potential sovereign investors and USD 5.5 billion being pledged. COP30 Morning Brief
• Adaptation is a major theme of this year's COP. Today (Monday 10th), a high-level event on adaptation took place with senior leaders from MDBs and climate investment funds. This focus is significant for corporate boards as conversations around climate governance are increasingly viewing mitigation and adaptation together. A key agenda item for discussion at COP30 is agreement of the 100 indicators proposed to track progress on the Global Goal on Adaptation (GGA). Adaptation will be needed across all value chains, addressing changes in product lines, supply chains and working practices. Adaptation initiatives also represent major opportunities for investment and job creation.

• In a plea to business and governments alike, UN Secretary-General António Guterres has called for urgent action to drive down global temperatures and keep the 1.5°C goal within reach. He said the economics have shifted with investors pouring $2tr in clean energy last year. He said this is what will transform our economies and protect our populations but it requires political courage.
• Prince William delivered a call to action, warning of tipping points that could trigger irreversible damage to natural systems. Speaking on behalf of King Charles, he highlighted the critical threats and urged global leaders to rise with courage and collaboration to protect future generations and ensure a sustainable future.
• UK Prime Minister Keir Starmer said the UK is doubling down on the fight against climate change as an investment in future generations to make energy a source not of vulnerability but of strength, and an engine to create thousands of new jobs, bring down household bills and end exposure to volatile fossil fuel markets.