COP30 Drops Draft on Transition Away from Fossil Fuels

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The COP30 climate summit has dropped a draft roadmap to transition away from fossil fuels, citing a removal of reference to this transition in the latest negotiating texts.

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Market impact analysis based on bearish sentiment with 64% confidence.

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Bearish
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64%

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The COP30 climate summit is ditching an earlier draft of a roadmap to transition away from fossil fuels, according to the latest draft of negotiating texts at the global gathering in Belem, Brazil. Many countries at COP30 have mobilized and supported a so-called “roadmap” to transition away from fossil fuels. But the latest draft document of the summit has removed reference to transitioning away from fossil fuels entirely, Reuters reports. While more than 80 countries joined the call for a roadmap to move away from fossil…

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Original article published by OilPrice.com on November 21, 2025.
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