The UN Climate Change Conference, COP30 in Brazil ended without a roadmap for phasing out fossil fuels. But there are many other positive signs and initiatives that needs focus, says Vattenfall's head of Sustainability.
There is still a movement and a belief that we are continuing to deliver on the Paris Agreement. So, there is still a lot of hope and light out there.
Annika Ramsköld
Ten years after the Paris agreement, almost 200 COP parties gathered in Belém, Brazil, to convene on the world's climate issues. The urgency of the matter was underpinned by the fact that last year, 2024, was the warmest year recorded.
While the parties at the summit reconfirmed that the Paris Agreement climate target sticks and important decisions were made to triple financing for adaptation measures for developing countries, there was no wording in the final text about phasing out the main cause of the climate change: fossil fuels.
We talked to Annika Ramsköld, Vattenfall's Vice President for Sustainability, about COP30 and how the results will affect the progress of the climate transition:
"The lack of a roadmap for fossil fuels in the final text is naturally extremely unfortunate. The decision from the previous COP28 summit in Dubai about the need of "transitioning away from fossil fuels" is still valid, though we would have preferred if it would have become more clear, tangible and measurable at COP30. We also need to remember that the vast majority still sees the need for a clear roadmap for fossil fuels, and that there are only a few countries opposing. There's a big commitment to continue moving forward," she says.
So would you say that COP is still important?
"Definitely, because it forces countries to discuss the topic and the different challenges and actions that need to be taken. If we look at what the COP has achieved in the past years, we've gone from the likelihood of reaching 4 degrees Celsius increase by the end of the century, to starting to bend the curve. Today the predictions are below 3 degrees, and a lot of countries are aiming to stay within 2 degrees. My view is that if we hadn't had the Paris Agreement and the COP meetings, these outcomes would not have been there."
What important results do you see from COP this time?
"First of all, there is the fact that 195 parties adopted the so-called Belém package with 29 different decisions. So, there is a clear outcome. Then there was the agreement to triple the finance for adaptation in developing countries until 2035. Thirdly there is also the COP30 action agenda with 117 plans on how to accelerate the different solutions by bringing governments, cities, business, indigenous peoples and civil society together. I think this is one of the great achievements: the focus on that we need to make the transition just and equitable, and that it must safeguard both people and nature. This is a much more holistic take than before."
What surprised you from COP30?
"I think one of the big surprises was the clear way that trade and climate were connected, which has not been the case earlier. This minimize the risks of conflicts between trade and climate, and an agreement was made to have annual meetings in Bonn the coming 3 years. Another thing that surprised me is the fact that since the agreement was not as forward leaning as everyone had been hoping for, Brazil decided to start a different initiative aimed at creating a global plan to phase out fossil fuel. These discussions will continue in Colombia in April."
Was there anything else you hoped would happen that didn't?
"Since COP was placed near Amazonas, there was a lot of expectations on having a very concrete deforestation commitment. That didn't necessarily materialise - it was discussed, but more as a voluntary commitment. Also, in previous COPs, such as in Baku and in Dubai, there were a lot of voluntary agreements and clear actions, for example on energy efficiency, tripling of renewables and doubling of nuclear, etcetera. So, what I had hoped for, was a review of the progress, on how far we have come on those different commitments.
But at the COP's there are also a lot of unofficial discussions between countries, businesses and civil society. And here it's clear that there is a lot of action ongoing even without the official detailed plan to phase out of fossil fuels. We have now come to the point where many businesses, as well as countries and regions, realise that the only way to be competitive, to be able to attract employees, customers etc, requires that we actually, do phase out fossil fuels. So, if you look more from a business side, there is a clear business case for Europe in particular, and also for other regions that do not have fossil fuels domestically. For us, the agenda is very much about competitiveness and resilienceon top of safeguarding the climate."
The EU's member states submitted their 2035 climate targets (NDCs) at COP 30, based on the agreed 2040 target of 90 per cent How important was this?
"I would say extremely important, not the least for European businesses, because we need the predictability and stability related to these targets, and we need to secure that we get a price on carbon, so that all initiatives that are already ongoing to transform the transport sector and the heavy industries are carried out. Now seeing that the course is clear, companies dare to start investing. A lot of the companies have already reconfirmed their commitments or even increased their climate and sustainability ambition. In addition, security and resilience also depend on the transformation away from fossil fuels. So, there are many drivers for the transformation towards fossil free energy."
Through media, you can get the impression that companies are not that committed anymore. What is your view?
"Vattenfall has a science-based target to reach net zero in 2040 that we are deeply committed to. And it was discussed a lot at COP that there seems to be a misperception about the speed and the commitment in the business community. In fact, there are studies showing that more than half of companies stick to their targets and even reconfirm them, while a third of the companies are actually doubling down on commitments. In fact, only 13 per cent are reducing their sustainability ambitions and targets. So, it's more a pace thing. Yes, there are a few that are stepping back. But like I said, there are more companies leaning in and doubling down than those that are stepping off the targets."
So what do you hope for the future and next year's COP31 in Turkey?
"Of course I look forward for all the countries, which have not done so yet, to hand in their 2035 NDCs and, that they really half their emissions from 2020 to 2030 as has been discussed in Belém . Also, of course that we have a clear global plan to phase out fossil fuels. But again, I think it is important to remember that the vast majority of countries really committed themselves in Belém and that it's now 87 countries that will gather in Colombia in April to discuss the phase-out plan for fossil fuels. I think it is a very clear signal, that even if consensus was not reached in COP, there is still a movement and a belief that we are continuing to deliver on the Paris Agreement. So, there is still a lot of hope and light out there."
By Lars-Magnus Kihlström
