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View all search resultsEnvironment groups have decried Indonesia’s lack of bold commitments to cutting emissions and phasing out fossil fuels at the United Nations climate summit, with national energy plans still reliant on coal and the carbon market.
After nearly two weeks of negotiations in the Amazonian city of Belem, a new draft agreement unveiled by COP30 host Brazil made no mention of "fossil fuels" or the word "roadmap" that President Luiz Inácio Lula da Silva had himself publicly supported.
Top global banks such as HSBC, JP Morgan and Santander had between 2021 and 2024 allocated only $1,368 billion "for sustainable power such as solar, wind, and related infrastructure ... while $3,285 billion was allocated to fossil fuels," it said.
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