“With so many geopolitical tensions, it was important to get an agreement amongst so many countries,” Desmartin told this news service in an interview. “Some countries like the US and Saudi Arabia would be very happy if there was no agreement. We got it even if it is less positive than was liked.” 

The EU has also been less ambitious in its approach for the 30th United Nations Climate Change Conference in Belém and US President Donald Trump was not present. “The US administration would like to see an explosion of the Paris Climate Change Agreement, but this hasn’t happened. The deal is not perfect but it is important to keep the talks going,” Desmartin said.

“Without the Paris Climate Change Agreement, the world would already be much further behind in combatting climate change,” he said. “Representatives from 10 US states were also present at the talks; California, for instance, wants to continue to implementing the climate change agenda, with 66 per cent of its power coming from renewables in 2023.”

“Thousands of stakeholders were also there, showing that the private sector is keen to continue ESG-focused investments and the climate change agenda. Investors should think about investing more in the energy transition, electrification. The transition to renewables has accelerated over the last 10 years. In 2025, investments in grid solutions performed well," he said.

The conference came at a time when arguments about how developed and developing nationsm are aligning overall carbon emissions and tackle human-caused climate were continuting to change, along the desire to use financial muscle to drive change remaining an important wealth management issue.

Forestry
“It was a good story on biodiversity and forests, with the Brazilian presidency’s launch of a new forest fund,” Desmartin said.

The biodiversity point was echoed by Hughes who said the forestry sector was well represented at the meeting and there was a lot of enthusiasm. “It’s positive for us.” 

The “Tropical Forests Forever Fund," launched just before the COP30 officially began, to provide funding for conservation efforts is projected at $125 billion. Brazil has pledged $1 billion to the fund and it has so far raised $6.6 billion, more than half of which will come from Norway and Germany.

“We were really pleased to see that the global forestry sector was at the centre of talks,” Hughes continued. “Historically, forestry at the COPs has been all about natural forests and the Southern hemisphere. There wasn’t a strong focus in the past on the bioeconomy and the importance of sustainable forestry, bioeconomics, and productive forestry. There was more focus on this at the COP30. That was a positive for us and the understanding of the importance of nature. Forestry has a broader role to play not just for biodiversity and the climate but for social and for sustainable production.”

“We have to transition our economy to understand the value of nature, biodiversity and natural capital. Within natural capital there is already a baseline of what the natural capital value of an asset is and that needs to be understood. We are starting to get an understanding of this and how we might measure this,” Hughes continued.

“The big wins weren’t as obvious as people liked at COP30, but we were broadly positive from a forestry perspective,” he said. “Forestry has become more central to debate of climate and nature. Creating an understanding of the natural capital value of forestry across a broader spectrum is critical. Now there is a drive towards that enabling the forestry sector to deliver much more than it has in the past.”  

In the negotiations, many countries also backed plans to agree on roadmaps to guide away from fossil fuels and deforestation. Although these roadmaps did not make it into the final negotiated text, COP30 president André Corrêa do Lago said they will be developed outside the formal United Nations process. There was a promise of a “roadmap” to put an end to deforestation. 

The final text also mentioned biodiversity loss, land rights and deforestation, but did not feature food – which disappointed some participants. The formal agriculture negotiations ended without a substantive outcome and talks are expected to continue next year. 

Desmartin thinks that the "climate" and "biodiversity" COPs should be merged under the same banner, arguing that the interdependent element of the climate and nature crises have precipitated this need. But he doubts that this will ever become a reality.

Adaptation, financing
Countries agreed on a set of indicators for countries to track their efforts on climate adaptation, including within the food and agriculture sectors. “It’s the first time adaptation has been at the front of the agenda. It is also good news on financing,” Desmartin said.

The text adopted at COP30 calls for mobilising at least $1.3 trillion per year by 2035 for climate action, alongside tripling adaptation finance. It also launches two initiatives to help countries deliver their national climate action plans, and acknowledges the need to tackle climate disinformation, pledging to promote information integrity.

It launches two initiatives – the Global Implementation Accelerator and the Belém Mission to 1.5°C – to help countries deliver their nationally-determined contributions (NDCs), or national climate action plans, and adaptation plans.

The final text also declares that the global shift toward low-emissions and climate-resilient development is “irreversible and the trend of the future.” It reaffirms that the Paris Agreement is working – and must “go further and faster” – strengthening the role of multilateral climate cooperation.

China
Desmartin emphasised the importance of China in the talks. “It is ahead in its environment objectives. It’s a good scholar and will announce its next five-year plan in March to look at its sustainability and climate goals.” While China still relies on fossil fuels, it produces more than 80 per cent of all solar photovoltaic panels, half of the world’s leading electric vehicles and a third of its wind power. Brazil also has one of the world’s cleanest energy mixes with 89 per cent of its electricity coming from renewables, primarily hydropower, supported by a growing wind and solar sector.

The COP31 talks are set to be hosted by Turkey next year, under the umbrella of Australia. See more about COP30 here.