The recent COP30 climate summit in Belém, Brazil, concluded with familiar frustrations: unmet goals, delayed funding, and diluted commitments. While international pledges remain essential, meaningful climate action is increasingly happening outside the formal U.N. framework, driven by coalitions, markets, and targeted initiatives. Despite the slow pace of global agreements, significant progress is underway in carbon markets, rainforest preservation, and ocean-based solutions.
New Carbon Markets for Emerging Economies
One of the most promising developments is the emergence of regulated carbon markets designed to incentivize emissions reductions. The core idea is simple: companies exceeding emission reduction targets can sell credits to those struggling to meet their goals, accelerating decarbonization. However, concerns about “greenwashing” – where companies falsely claim climate neutrality – remain a major hurdle.
To address this, Brazil launched the Open Coalition on Compliance Carbon Markets at COP30, joined by 18 nations including the EU, China, and the UK. This coalition aims to standardize carbon accounting, ensuring transparency and preventing fraudulent claims. Experts believe participation from major emitters like Indonesia and India is critical, as these nations will account for the bulk of future emissions. For emerging economies, such as Mozambique, compliance markets could make green industries – like hydropowered aluminum production – economically competitive, as carbon-intensive imports face higher taxes.
Funding Tropical Rainforest Restoration
Forests were a notable omission in COP30’s final agreement, despite the summit’s location in the Amazon. This highlights a growing disconnect between international negotiations and on-the-ground conservation efforts. The Tropical Forests Forever Facility (TFFF), championed by Brazil and the World Bank, offers a new financing model. Unlike traditional climate funds relying on donations, TFFF is an endowment that rewards countries for preserving forests through investment returns.
While the initiative received broad support, initial pledges total only $6.6 billion against a $25 billion goal, with some concerns that Indigenous groups may be bypassed in the financial structure. France also pledged $2.5 billion over five years to protect the Congo Basin rainforest, and $1.8 billion was committed to support Indigenous land rights – recognizing that forests managed by local communities have lower deforestation rates.
Rising Tide of Ocean-Based Climate Solutions
Ocean-based solutions are gaining traction as crucial for climate action, though they were underrepresented in COP30’s final agreement. Brazil named Marinez Scherer as a Special Envoy for the Oceans, who unveiled the “Blue Package” – a plan to accelerate existing ocean-climate solutions by 2028, including offshore wind, zero-emission shipping, and sustainable aquaculture.
Brazil and France jointly launched the Task Force on Oceans, integrating ocean-based solutions into national climate action plans (NDCs). Seventeen countries joined the “Blue NDC Challenge,” committing to include ocean solutions in their updated plans. Brazil also pledged sustainable management of its 3.68 million square kilometer coastline by 2030.
Despite these wins, Scherer emphasizes that energy transition and climate finance for vulnerable nations remain urgent priorities. Ocean-based action is climate action, but the challenge now is shifting from planning to implementation.
In conclusion, while international climate summits remain important, real progress increasingly depends on voluntary coalitions, market-driven incentives, and targeted initiatives. The momentum is shifting towards practical solutions that operate alongside—and sometimes independently of—global negotiations. The future of climate action lies not just in promises, but in tangible outcomes.
