Three decades after the optimism of the 1992 Earth Summit, the climate regime faces a tough test. The retreat of multilateralism and the rules-based international order has left COP30 struggling to hold together the fading promise of global action.
If they are serious about a sustainable future, they must close loopholes and extend coal policies across clients’ entire value chains, denying new financing to companies using coal unless they have credible, time-bound clean energy plans.