As COP30 convenes in Belém, Brazil—on the edge of the Amazon rainforest—delegates arrived with extreme weather fresh in mind. The recent typhoons in Southeast Asia, together with ongoing storm recovery in Jamaica and Brazil, brought COP30’s core theme into sharp focus: how to strengthen global resilience as environmental extremes intensify.
Aerial view of Belém, Brazil, where the city meets the lush rainforest of Utinga State Park. AI generated picture.
The opening sessions placed adaptation front and centre, marking a notable shift after years in which mitigation dominated environmental negotiations. With developing countries projected to need up to $310 billion annually by 2035, the question of who pays—and how—remains unresolved.
In response, ten major development banks reaffirmed their commitment to supporting vulnerable countries, noting that ‘Lives, well-being and jobs cannot be sustained where homes, schools, farms and businesses are under threat from flooding, drought, or other climate extremes.’ Last year, these banks provided over $26 billion for environmental adaptation.
Momentum continued to build as additional financial instruments surfaced. A director of a multi-partner UN fund confirmed a new impact bond targeting $200 million by 2026, while Germany and Spain jointly pledged $100 million to the Climate Investment Funds to strengthen environmental resilience. These early commitments reinforced the summit’s sense of urgency.
Alongside financing discussions, negotiations opened on the Global Goal on Adaptation (GGA). Countries sought agreement on a framework of indicators capable of measuring progress across water, sanitation, health, and infrastructure sectors, increasingly stressed by extreme weather. UN climate chief Simon Stiell underscored the need for clarity, stating: ‘We now need to agree on the indicators that will help speed up implementation, to unleash its potential.’
A meaningful breakthrough arrived early in the summit: the Fund for Responding to Loss and Damage launched its first call for funding requests under the Barbados Implementation Modalities. This development is especially significant for environmentally vulnerable regions, including several states in India facing escalating impacts.
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While countries succeeded in avoiding the traditional opening-day agenda dispute, familiar divisions reappeared. Several contentious issues—particularly around developed nations’ financial responsibilities—were set aside for later talks. Closed-door negotiations continued on Article 9.1, unilateral trade measures, and transparency of national data, though initial stocktaking sessions revealed little convergence.
As the week progressed, delegates called for clearer direction from the Presidency. Day 4 saw renewed efforts to push forward on the Just Transition Work Programme and Article 2.1(c), where discussions on potential safeguards showed some early movement. Even so, the overall negotiation landscape remained complex, reflecting the difficulty of balancing environmental ambition with economic realities.
Against this backdrop, Indonesia emerged as one of COP30’s most proactive actors. The country announced an ambition to generate US$1 billion in carbon credit deals during the summit, supported by a pipeline of 90 million tonnes of credits across forestry, energy, and industrial projects. This push builds on new regulatory measures aimed at strengthening transparency and project integrity.
A series of partnerships underscored Indonesia’s intent to integrate more deeply into global carbon markets. These included:
- A Mutual Recognition Agreement with Verra, enabling up to 50 million tonnes of credits to enter international markets
- An MoU with the Integrity Council for the Voluntary Carbon Market (ICVCM)
Indonesia also highlighted its long-term potential—estimated at 13.4 billion tonnes of CO₂ by 2050—which could generate $2.8–$8.6 billion in annual revenue depending on future prices.
In parallel, discussions with Sweden signalled the possibility of Indonesia securing a fifth bilateral agreement under Article 6. As Indonesia’s Minister of Environment noted, ‘This collaborative plan is an important step in attracting Swedish business networks to participate in the carbon economic system we are building.’
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Indonesia’s momentum formed part of a wider pattern. Around the summit, several countries rolled out significant updates to their carbon market strategies, illustrating how nature policy is increasingly tied to economic planning:
- Brazil, the host nation, launched an Open Coalition on Compliance Carbon Markets with 11 countries
- Iraq announced its first national carbon market
- Kenya, Singapore and the UK unveiled a joint effort to increase corporate demand for high-integrity credits
- Japan detailed plans to quadruple JCM credit supply to meet compliance needs under the GX-ETS
Despite their varied approaches, these initiatives converged around a shared message: carbon markets must be credible. Delegates repeatedly stressed the importance of high-integrity credits capable of delivering real emissions reductions while ensuring meaningful benefits for local communities.
Private sector action also featured prominently. Nestlé announced two major nature-based restoration projects across Brazil, covering 8,000 hectares and involving the planting of 11 million trees. Developed with re.green and Barry Callebaut, these efforts will generate an estimated 1.4 million tonnes of CO₂-equivalent credits while reinforcing supply chain resilience for cocoa and coffee.
The projects align with Nestlé’s broader nature-oriented strategy, including its target to plant 200 million trees by 2030 and achieve net-zero emissions by 2050. As highlighted in its 2024 Non-Financial Statement, the company focuses on removals within its own sourcing landscapes rather than relying on external offsets.
Reforestation workers in Brazil planting young trees in the tropical rainforest. AI generated picture.
Meanwhile, the Green Climate Fund (GCF) announced support for 14 additional national and regional environmental and nature finance platforms, building on earlier efforts in Brazil and the Caribbean. With $19.3 billion in resources—and $78.7 billion when co-financing is included—the GCF is accelerating a shift toward integrated nature planning. Kazakhstan’s Vice-Minister Mansur Oshurbayev noted: ‘We are moving from fragmented initiatives to a systemic approach.’
Despite negotiation challenges, COP30 revealed a decisive shift in global environmental governance. Nations are no longer only setting targets—they are constructing carbon market systems, expanding partnerships, and mobilising finance at scale. Whether through new national schemes, bilateral Article 6 deals, or large-scale restoration investments, nature-oriented action is increasingly intertwined with economic development.
Read more: Beyond tonnes: How carbon credit co-benefits elevate value
COP30 is making one thing clear: the world is moving from pledges to implementation, and the future of decarbonisation will depend on high-quality, transparent carbon markets. As countries refine their rules and raise expectations for environmental integrity, organisations face growing pressure to adopt solutions that reflect these higher standards. Green Earth is already delivering at this level, with nature-based projects designed to restore landscapes, empower local communities, and generate verified carbon credits that stand up to global scrutiny. For businesses looking to stay ahead of fast-evolving environmental requirements, this is the moment to take action—let us show you the path forward.
