Takeaways from the COP30 climate summit in Brazil

By Katy Daigle

BELEM, Brazil (Reuters) -This year’s U.N. climate change summit ended with a tenuous compromise for a deal that skipped over most countries’ key demands but for one: committing wealthy countries to triple their spending to help others adapt to global warming.

Here are some of the takeaways from the COP30 climate summit held in Brazil’s Amazon city of Belem:

HOOKED ON HYDROCARBONS

Brazil’s President Luiz Inácio Lula da Silva had launched the summit calling for countries to agree on a “roadmap” for advancing a COP28 pledge to shift away from fossil fuels.

But it was a road to nowhere at this summit, as oil-rich Arab nations and others dependent on fossil fuels blocked any mention of the issue. Instead, the COP30 presidency created a voluntary plan that countries could sig