Cop30 climate summit: the end of fossil fuels is coming, but not fast enough

The world’s transition away from fossil fuels has reached a turning point, but the pace of change may not be quick enough to prevent dangerous climate impacts or ensure a fair shift to clean energy for all nations.

At COP30 climate talks in Belém, Brazil, delegates are grappling with a familiar pattern that mirrors the local Amazon weather. Just as sunny mornings give way to afternoon thunderstorms, the conference opened with optimism—quickly agreeing on an agenda—before deferring the most contentious issues for later negotiations. Critical discussions about climate finance, carbon border tariffs, and bridging the gap between countries’ climate commitments and what’s actually needed under the Paris Agreement are set for the summit’s second week.

The stakes couldn’t be higher. The International Energy Agency delivered landmark news last week, confirming that the fossil fuel era is finally ending. Their annual report projects that global consumption of coal, oil, and gas will peak this decade before declining. Economist Fadhel Kaboub, who advises developing nations on climate policy, notes this shift isn’t driven by political pressure but by simple economics—renewable energy is now cheaper and more competitive than fossil fuels.

The potential is enormous. According to Kaboub, Africa alone could generate 1,000 times more electricity than it will need by 2040, creating massive export opportunities. However, the global transition from fossil fuels is still happening too slowly to meet climate goals. This makes the financial negotiations at COP30 crucial—determining who will pay for the renewable energy infrastructure needed to accelerate the transition and ensure developing nations aren’t left behind in the shift to a clean energy future.