This week in sustainability news: Despite broad support from most participating countries, the final declaration adopted at COP30 in Belem, Brazil omitted any reference to fossil fuels. The agreement also pledged US$300 billion in climate financing for developing nations but postponed the target date to 2035. During the summit, Iniciativa Climática de México (ICM) warned that Mexico will need US$130 billion in private and international capital to meet its updated NDC 3.0 commitments.
More news below:
COP30 Final Declaration Drops All Fossil-Fuel Language
Despite broad support from most countries in attendance, the final declaration adopted at COP30 in Belem, Brazil omitted any reference to fossil fuels. The omission followed strong objections from oil-producing nations, underscoring the limits of multilateralism in a year marked by deepening geopolitical divides and rising trade barriers. Instead, the text referenced the “UAE consensus” agreed at COP28, which called for a transition away from fossil fuels but introduced no new commitments or stronger language.
COP30 Delays Funding Goal to 2035, Pledges Higher Climate Financing
At COP30, nations agreed to increase climate financing for developing countries but postponed the expanded funding target from 2030 to 2035. The final declaration commits wealthier countries to provide at least US$300 billion annually by 2035, with an aspirational goal of mobilizing US$1.3 trillion per year from public and private sources.
Mexico Needs Climate-Finance Platform, ICM Warns at COP30
At COP30, Iniciativa Climática de México (ICM) warned that Mexico needs a national climate-finance platform to fulfill its updated NDC 3.0 commitments, urging the creation of a coordinated mechanism to mobilize both public and private investment. ICM estimates that Mexico must secure more than US$130 billion in private and international capital, along with US$43.6 billion in public funds by 2030. These resources are critical to expand renewable energy, modernize transmission networks, scale battery storage, advance green hydrogen, and build electric-vehicle infrastructure.
PEMEX, IMP Launch National Methane-Cut Plan with World Bank
PEMEX and the Mexican Petroleum Institute (IMP) have launched the development of a national methane-reduction program as part of broader efforts to accelerate Mexico’s transition to a cleaner and more efficient energy sector. The workshop brought together specialists from PEMEX, IMP and the World Bank to design coordinated strategies for methane detection, quantification and mitigation, as well as for eliminating routine gas flaring.
Brazil, Mexico Set 2040 Phaseout for Combustion Trucks
Brazil and Mexico have committed to ending sales of new medium- and heavy-duty internal combustion vehicles by 2040, with an interim target of requiring that at least 30% of new truck and bus sales be zero-emission by 2030. Both countries joined 40 existing signatories to the Global Memorandum of Understanding on Zero-Emission Medium- and Heavy-Duty Vehicles.
Mexico City Moves to Regulate Light Pollution
Pope Leo XIV called on global leaders at COP30 to intensify efforts to meet climate commitments, warning that the world is approaching a narrowing window to limit global warming to 1.5°C. In a video message delivered on Nov. 17 to bishops gathered in Belem, Brazil, the Pope urged renewed resolve backed by concrete actions and highlighted the particular vulnerability of communities in the Global South. Pope Leo acknowledged the ongoing efforts of scientists, leaders and faith communities around the world, emphasizing the shared responsibility to protect the planet: “We are guardians of creation, not rivals for its spoils.”