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COP30 strikes climate finance deal, dodges fossil fuels commitments

By Helena Freitas ( November 24, 2025, 11:24 GMT | Insight) -- COP30 in Brazil closed with an agreement to scale climate finance to $1.3 trillion annually and triple adaptation funding by 2035, but failed to strengthen language on phasing out fossil fuels. The EU welcomed progress on policies to combat climate change, endorsing new initiatives on carbon markets and tropical forest protection, while lawmakers warned that resistance from oil producers exposed shifting geopolitical balances.Countries at the UN climate summit COP30 in Belém agreed on Saturday on a comprehensive package to scale up climate finance and accelerate implementation of the Paris Agreement but failed to explicitly commit to phasing out fossil fuels....

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