Money is making a difference at COP30. Why being green’s not so grim

The COP30 Climate negotiations in Brazil are officially underway. Donald Trump may think it’s all a con job, but there’s been a determined efforts to show the international community is serious about working together to make progress on issues such as nature restoration and cheaper, greener power. 

At the end of last week political leaders, with some notable exceptions, gathered in Belem determined to make a positive statement. Prince William’s clear commitment to the climate cause also made headlines around the world. 

Despite the geopolitical pantomime, the world is not waiting for Washington to make a difference. Here’s some evidence to back up those claims, which illustrates how real progress is being made creating jobs, new markets and strengthening economic security. 

Most importantly perhaps, the green energy transition is taking place. Affordable, clean power is a reality. This year, the think tank Ember says renewables have overtaken coal’s share of the global electricity mix. 

The International Energy Agency states that clean energy now employs more people around the world than the fossil fuels industries. According to the Economist, China is making more money from exporting green technologies such as solar panels than the US makes from exporting oil and gas. 

The Indian Government states that half of India’s installed power is now generated by renewable energy. Over the past decade the price of solar energy has fallen by 90%. 

Despite the rhetoric on climate change even in the USA, Donald Trump is presiding over a renewable energy boom. According to Bloomberg New Energy Finance the US is set to add an additional 10% renewable energy capacity in 2026, including wind, solar and battery storage. Renewables make up 93% of additional US energy generation capacity this year.

And for those who think the entire COP process has no point, it’s worth noting that the rate of growth in global warming has slowed. A decade on from the Paris climate agreement, while emissions do continue to rise, the rate of growth has been checked. 

The next few weeks in Brazil may lack the razzamatazz of previous global climate summits but it would be a mistake to underestimate the steady impact of making green energy abundant and affordable. And there’s an important message emerging from the COP 30 summit. The world’s middle-income countries such as Brazil, South Africa and India are pivoting to cleaner tech, despite US efforts to undermine global climate policy.