COP 30 Wrap-Up: What Companies Really Need to Know
- Vincent Erasmy
- 2 days ago
- 5 min read
Updated: 1 hour ago
The negotiations at COP 30 in Belém ended in dramatic fashion: after days of intense discussions, countries were unable to agree on a final text to include a binding global phase-out of fossil fuels. The last-minute disputes over the wording of the closing declaration revealed once again how fragile consensus-based climate diplomacy has become.
Despite the disappointment, there are also positive take-aways to be reported: for companies and also for nations looking for pragmatic ways to contribute to climate action, COP 30 delivered several important signals – including concrete progress on Article 6, a strong push for scaling up carbon removal technologies, new momentum for nature-based solutions and also hopeful concepts to improve climate finance.
No Fossil Fuel Phase-Out Agreement – But Action Is Already Underway
Withoug a doublt, the lack of reaching a unified, political commitment to phasing out fossil fuels put a damper on the situation. While this is a setback, it does not stop global decarbonization from moving forward. A peek at the data shows that the transformation has already started.
Fossil fuels accounted for 60% of global electricity supply in 2023. While that share is still high, it also marks the lowest level in 50 years. At the same time, renewables energy surpassed the 30% mark for global electricity generation in 2024.
This progress is not driven solely by government measures, but also significantly by companies and the private sector through voluntary climate protection contributions; a reminder that the monopoly on climate action does not have to rest solely with governments. Companies play a central role in financing and effectively implementing the energy transition — and they will continue to shape this transformation, especially where politics reaches the limits of unanimous decision-making.** regardless of political blockades.
TFFF: A Significant Step for Forest Protection – and the Question of Reforestation
One of the biggest announcements in Belém was the launch of the Tropical Forest Forever Facility (TFFF) – a new fund providing incentives for countries to protect tropical forests. With USD 5.5 billion in commitments from 53 countries and monitoring based on satellite data, the TFFF could support the conservation of more than one billion hectares of tropical forests across 70 developing countries in the future.
This process is potentially a game-changing moment for forest protection, especially at a time when the risk of crossing irreversible climate tipping points is increasing and many tropical forests are on the verge of becoming net sources of carbon emissions. At the same time, securing long-term, reliable funding for reforestation and restoration measures remains a crucial component of global climate protection that must continue to be worked on in the future.
“Climate change is moving faster than climate policy – this is the bitter truth. But companies can be fast actors too. Businesses that recognize the opportunities in high-integrity nature-based solutions can help close the nature-finance gap.”
– Marisa Kunze, Head of Nature Based Solutions
Carbon Dioxide Removals (CDR) Take Center Stage
For the first time, COP featured a dedicated CDR Pavilion, as well as dozens of side events around the topic of carbon removal technologies, and a clear message from climate science: emission reductions are no longer enough — we must actively remove carbon from the atmosphere.
First Climate is also actively commited to these activities.
“We develop viable CDR projects and connect buyers with responsible suppliers. The big challenge now is how to scale up the technologies and projects quickly, because we are talking about a removal potential in the gigatonnes range, which needs to be realized sooner than later.”
– Vincent Erasmy, Carbon Competence Lead
Quality and integrity were key topics at COP 30, and it is clear that the mistakes of the past must not be repeated in CDR mechanisms. In the CDR sector, robust procedures are in place for the provision of high-quality removal certificates, offering companies that are pursuing credible pathways to net zero the necessary certainty for their decisions.
Carbon Markets: Article 6 Moves from Theory to Implementation
One year after the adoption of the Article 6 mechanisms at COP 29, the focus in Belém shifted more toward practical implementation. Current discussions revolve around how the mechanisms of Articles 6.2 and 6.4 can be applied in concrete terms in the future to enable cross-border cooperation and stimulate investment in climate protection measures
At the same time, compliance carbon markets are no longer a niche; 28% of global emissions are now covered by carbon pricing, and there are clear signals that more countries are willing to go ahead. Discussions at COP 30 also pointed to increased cross-alignment between Article 6.4 and the voluntary market’s Core Carbon Principles (CCP), suggesting greater convergence and more transparency in the years ahead.
From a market perspective, COP 30 brought renewed confidence to the voluntary carbon market, creating a more stable environment for corporate buyers. Voluntary markets are currently a buyer’s market, offering companies favorable opportunities to secure high-integrity credits before demand and prices are expected to rise.
A Critical Look at COP: Small, Concrete Steps Over Lofty Political Declarations
The outcome in Belém makes one thing clear: climate progress cannot rely on consensus-driven conferences alone. The inability to agree on a fossil fuel phase-out shows the limits of political declarations that often fall short in actual implementation.
While the lack of a fossil fuel phase-out is disappointing, however we would argue that – from a pragmatic perspective – COP 30 still delivered meaningful progress in key areas and is actually far from being a failure. These are our key takeaways:
The broad recognition of the need for carbon removals marks a decisive shift in global climate strategy.
The 1.5 °C target is now out of realistic reach – but CDR still provides a chance to limit further damage.
Progress with Article 6 and mechanisms like TFFF show that innovation and practical solutions are still possible.
For companies, this brings a clear message: Taking on a leadership role in climate protection means taking action, not waiting for political consensus. Investing in CDR, high-quality carbon credits, and nature-based solutions offers real, measurable impact – now.
Conclusion: A Call to Business Leaders
COP 30 highlighted both the urgency of the climate challenge and the limitations of traditional diplomacy. Today, companies have enormous influence to drive real advancements in climate action.
If businesses act decisively now, they can fill gaps, accelerate climate solutions, and lead where political progress is slow.
We stand at the ready to support companies on this path — with proven expertise in CDR, nature-based solutions, and high-integrity climate finance.
About the Authors
Vincent Erasmy is the Carbon Competence Lead at First Climate. In this role, he empowers companies across the globe on their climate journey by translating the latest carbon standards, market insights, and regulatory shifts into actionable strategies. Internally, he leads dynamic projects and trainings that drive carbon expertise within our teams and beyond. Committed to making a measurable impact, he thrives at the intersection of innovation, market leadership, and sustainability transformation.
Marisa Kunze is the Head of Nature-Based Solutions at First Climate, with almost five years of experience as a project developer in the voluntary carbon market, specializing in reforestation, afforestation, mangrove restoration, and sustainable agriculture. Currently, her team is actively engaged in reforestation initiatives in Madagascar, Ethiopia, and Brazil, mangrove restoration efforts in Indonesia, Kenya, and Brazil, and regenerative agriculture projects in Germany, Kenya, and Colombia.
