COP30: Businesses Enter the Implementation Era

COP30 unfolded in Belém with the usual swirl of negotiations, finance pledges and geopolitical tension. But beneath the diplomacy, a more defining reality came into focus: climate risk is business risk. And in a world inching closer to irreversible tipping points, businesses bear both the greatest responsibility and the greatest capacity to drive meaningful change. As Andrew Benett, CEO of Sodali & Co, put it, “COP30 is pivotal: those who act boldly now will lead in a world where climate and business are inseparable. Implementation is the new currency of credibility; therefore, targets alone won’t define leadership. Delivery will.” His words captured the shift running through this year’s summit, where the emphasis fell on execution over ambition. 

For companies, the implications are clear. The decisions they make today on resilience, supply chains, energy use and nature will shape not only their competitiveness but the trajectory of the global transition itself. 

In this article, Sodali & Co reflects on the signals emerging from COP30 and what they mean for business at a moment when climate action is shifting from ambition to execution. Held in Belém, in the heart of Brazil’s Amazon basin, this year’s “Implementation COP” unfolded against escalating extreme weather events, political uncertainty and a fast-evolving regulatory landscape. Discussions stretched from the global shift away from fossil fuels to forest finance and adaptation in the most climate-vulnerable nations. And while attendance was lower than in previous years, the private sector remained influential through the Sustainable Business COP30 (SB COP30) platform, with Indigenous leaders, civil society and lobbyists also shaping the wider debate on climate responsibility. 

Ultimately, nearly 200 nations endorsed the final text, The Global Mutirão, which calls for strengthened national emissions goals and expanded climate and adaptation finance commitments for developing countries. These commitments will ripple across policy, investment flows and corporate strategy in the years ahead. 

BUILDING RESILIENCE THROUGH ADAPTATION 

Adaptation took centre stage at COP30, reflecting an increasingly undeniable reality: the costs of climate change are accelerating faster than most economies are prepared for. From catastrophic flooding to severe wildfires and prolonged drought, countries acknowledged the need to act more decisively to protect both communities and economic systems. The Global Mutirão’s commitment to triple adaptation finance by 2035 — with $120bn earmarked for the most vulnerable nations - signalled meaningful movement, even if developing countries pushed for a more ambitious 2030 deadline. 

For corporates, this shift has immediate implications. Extreme weather is already disrupting logistics, damaging assets and increasing operational volatility, while biodiversity loss threatens half of global GDP. Businesses must therefore embed adaptation into long-term planning, assessing exposure across operations and supply chains, investing in tools that quantify climate and nature-related risks, and strengthening resilience through infrastructure upgrades and supplier diversification. Early movers will be more resilient - commercially as well as climatically. 

NAVIGATING THE TRANSITION AWAY FROM FOSSIL FUELS 

Fossil fuels once again dominated the negotiations. Nearly 80 countries supported developing national roadmaps for phasing out oil, gas and coal, building on the COP28 pledge to transition away from fossil fuels. The We Mean Business Coalition reinforced this, describing such a roadmap as essential to helping countries and companies plan the shift to clean energy, strengthen energy security and reduce costs. 

However, the final COP30 text excluded explicit reference to transitioning away from fossil fuels, reflecting resistance from major producers including China, Russia and Saudi Arabia. While disappointing to many, the broader direction remains unchanged: markets and policymakers are continuing to move, incrementally but decisively, towards a low-carbon energy system.  

A more fragmented global transition to a low-carbon energy system means companies must actively balance short-term priorities such as energy security, price volatility, and a diversified energy mix, with the longer-term imperative to decarbonize. Preparing now is critical: investor scrutiny of carbon-intensive assets is rising, carbon-pricing mechanisms are evolving, and regulation, while lagging, will tighten. Companies that move early to integrate low-carbon strategies and build resilience will be better positioned to capture business value and maintain competitiveness in a shifting energy landscape.  

NDCs TO SHAPE BUSINESS DECISIONS 

Countries were expected to submit updated Nationally Determined Contributions (NDCs) ahead of COP30, but progress stalled early as developing nations demanded increased adaptation finance before committing to more ambitious decarbonisation. Developed nations, meanwhile, hesitated to provide additional funding without stronger emissions-reduction plans in return, resulting in a “no NDC, no money” standoff that highlighted growing tensions in global climate diplomacy. 

Despite this, the final text launched two initiatives — the Global Implementation Accelerator and the Belém Mission to 1.5°C. These aim to support countries to deliver on their commitments. 

For businesses, the real impact lies in how these commitments translate into national policy. Updated NDCs typically lead to new regulatory requirements such as carbon taxes, mandatory transition plans, clean-energy incentives or procurement rules tied to emissions performance. Companies that monitor these shifts and align early with national climate targets will be able to more thoughtfully shape targets that drive business value, integrate these into enterprise-wide strategic planning, and position themselves as leaders. 

PROTECTING THE FORESTS AND PRESERVING BUSINESS 

Forests featured prominently at COP30, unsurprising given Brazil’s role as host and the summit’s proximity to the Amazon basin. Brazil sought to unlock significant finance for rainforest protection through the Tropical Forests Forever Facility, securing over $6bn from contributors including Norway, Germany, Brazil and Indonesia, though still below the COP30 Presidency’s ambitions. Lobbyists arrived in record numbers, surpassing the size of Canada’s entire delegation, while the conference also hosted the largest Indigenous delegation in COP history. 

Despite widespread recognition of the Amazon’s global importance, discussions around the Forest and Climate Roadmap did not make it into the final text, signalling ongoing global misalignment on forest protection even as the need becomes more urgent. 

For companies sourcing agricultural products, timber, food ingredients or consumer goods, scrutiny on supply chains is increasing, with growing calls for transparency from consumers and NGOs. Strengthening anti-deforestation commitments, improving supply-chain traceability and investing in nature-positive practices are becoming essential steps to maintain market access and avoid reputational and operational risk. These initiatives require long lead times. As forests are increasingly recognised as a finite strategic resource, businesses that act now will be better positioned to secure long-term supply stability, safeguard their licence to operate, and strengthen the longevity and financial sustainability of their business in a rapidly evolving market environment. 

IMPACT OF CLIMATE ON GLOBAL TRADE POLICIES 

For the first time at a COP, trade became a central storyline, driven largely by reactions to the EU’s Carbon Border Adjustment Mechanism (CBAM), which places levies on carbon-intensive imports such as steel, cement, fertiliser and aluminium. Major exporters, including China and India criticised the mechanism as protectionist, while the EU maintained it simply ensures fair competition by applying consistent environmental standards across the bloc. 

COP30 concluded with an agreement to establish an ongoing dialogue on climate and trade, recognising that this issue will only grow more consequential. 

For companies, climate-linked trade policies will reshape cost structures and supply chains. To navigate this shift, businesses need to strengthen emissions measurement - particularly Scope 3 - while assessing supplier dependencies and exploring lower-carbon alternatives. As more regions consider their own border measures, climate-aligned trade policy will become a decisive competitive factor. 

LOOKING AHEAD 

The outcomes of COP30 exposed familiar geopolitical divides - disputes over climate finance, disagreements on fossil-fuel language, and contrasting views on trade. The absence or passivity of major players like the US and China added complexity, and even the final plenary was briefly derailed by regional tensions. Reactions were mixed: France’s environment minister described the outcome as “a deal without ambition but not a bad deal,” while the UK suggested it represented a renewed global commitment to the Paris Agreement. 

For businesses, however, the political drama should not overshadow the substance. Climate considerations now sit squarely within mainstream business strategy. Adaptation, nature protection and decarbonisation are no longer peripheral issues; they are fundamental drivers of long-term value creation and competitiveness. 

Attention now turns to COP31, set to take place in Turkey under Australian leadership. Many of the processes launched in Belém will begin to crystallise over the coming year, and businesses will need to monitor how new frameworks and finance mechanisms evolve. The period leading into COP31 offers a window of opportunity for companies to strengthen resilience, align with emerging national policies and demonstrate leadership in the implementation era – building the foundations now, to thrive in a transitioning economy in the decades ahead. Those who act early will be better positioned to navigate uncertainty, attract investment, and drive tangible change, ensuring long-term value-creation and relevance in the evolving global market.