COP30: Proof points are more compelling than pledges

In a complex and contested landscape, the COP process and its relevance to business can seem unclear, particularly at a time when the business case for climate action is disrupted by economic and political headwinds. Nevertheless, the multilateral outcomes at the summit can play a part in driving the systemic shift towards decarbonisation that is required to limit the impact of climate change.  

By proactively monitoring and adapting to the decisions made at COP, non-executive directors can equip themselves to set out a strategic vision that aligns with the trajectory of global climate action. Five key elements of the talks stand out as core considerations in the boardroom.  

Set the ambition and align with the global progress

COP provides a barometer for global progress on climate action, and this offers an opportunity to take stock. Boards should ask themselves, does our transition plan consider any potential changes decided at the summit? Does it still align with the world’s direction of travel and collective ambition?  

New Nationally Determined Contributions (NDCs) provide insights on the approach that countries are taking on decarbonisation and will ultimately translate into sector specific initiatives that accelerate progress. By remaining engaged, boards can align their future strategy with these changes, with a view to securing opportunities in growing markets.  

Remember the three ‘r’s: reliable, robust reporting

As ambitions change so could reporting expectations across jurisdictions. Strengthening the data behind transition plans and ensuring it is robust is a key consideration in this environment. Transparency in messaging and reporting is fundamental not only to compliance but also to developing productive partnerships with governments that are increasing their climate ambition.  

The transition is reaching a stage at which these proof points are of higher value than pledges. Reliable and auditable data that demonstrates progress is core to maintaining credibility and ensuring that transition plans can be trusted to deliver tangible emissions reductions.  

Integrate nature into core risk calculations

Though there is a COP process dedicated to nature and biodiversity that will convene in Yerevan in 2026, nature continues to play an important role in the climate talks. A healthy environment is a crucial asset to support climate action and provides the foundation for a thriving and sustainable economy. 

COP30, and the nature progress it has delivered, represents an important reminder for boards to integrate nature and biodiversity into core risk calculations and steward a responsible approach to supply chains to minimise their impact. Environmental degradation and the impacts of climate change have a material impact on the critical value chains that businesses around the world rely upon.  

Take up opportunities and collaborate

This COP had a stated focus to bring non-state actors on board and deploy capital into innovation and capacity-building for decarbonisation. This creates the opportunity for boards to heighten ambition and direct investment into innovation and the technologies that will form the heart of our future economy.  

A clear view of progress on national commitments that aim to mobilise private investment can ensure businesses maximise value creation opportunities and adapt to changing technologies. The economic potential of the transition is clear to see, with the International Energy Institute stating that annual clean energy investment worldwide will need to reach around $4tr by 2030.   

Finally…adapt and skill up

Climate finance will continue to play a key role in future talks through the new collective quantified goal, which aims to mobilize $1.3tr in international climate finance by 2035. Boards should consider where their organisation may be able to play its part in driving capital into adaptation and reassess where climate impacts may disrupt operations without action to address them.  

As the transition progresses, change will come to all parts of the economy. The people at the heart of this process must remain front of mind. This manifests most acutely for businesses in the workforce. Maintaining a forward view of the skills required for the transition, and how some roles may change, is critical to mitigate risk and deliver an equitable transition.  

Ultimately, the decisions made in Belém can create opportunities to strengthen the business case for climate action and provide a more stable policy landscape that drives systemic change. A well-equipped and engaged board can contribute to this forward momentum through long-term stewardship that ensures their organisation is fit for the future and aligned with the developments at the summit.