What to Know About This Year's UN Climate Talks
Climate finance and fossil fuels top the formal agenda at COP31.
By Casey Crownhart | November 11, 2026
Kyodo via AP Images
As the 2026 UN climate summit (COP31) gets underway, delegates from nearly 200 countries are gathering with a familiar but urgent to-do list. This year's formal agenda is dominated by two contentious issues: climate finance and the future of fossil fuels.
Climate Finance Takes Center Stage
At the top of the docket is the question of how wealthy nations will deliver on their pledges to help developing countries cut emissions and adapt to a warming world. With the previous goal of $100 billion per year now in the rearview mirror, negotiators are tasked with setting a new, more ambitious finance target—one that reflects the escalating costs of climate impacts and the growing energy needs of emerging economies.
Discussions will likely revolve around the scale, sources, and accessibility of funding, including whether multilateral development banks and private capital can be mobilized at the pace required. Expect heated debates over grants versus loans, and over how to ensure that vulnerable nations can access funds without deepening their debt burdens.
Fossil Fuels in the Spotlight
Following the historic language agreed at COP28 in Dubai—where countries committed to "transitioning away from fossil fuels in energy systems"—this year's talks will test whether that promise translates into concrete action. The formal agenda includes items on accelerating the energy transition, scaling up renewables, and addressing the role of unabated fossil fuels.
Some countries are pushing for a clear roadmap to phase out coal, oil, and gas, while others emphasize energy security and the need for a "just transition" that supports workers and communities dependent on fossil fuel industries. The outcome of these negotiations will send a powerful signal to markets and investors about the direction of global energy policy.
What Else to Watch
Beyond the headline issues, COP31 will also feature discussions on adaptation, loss and damage, carbon markets, and the global stocktake follow-up. With the 2025 deadline for updated national climate plans (NDCs) now passed, observers will be looking for signs that countries are raising their ambition in line with the 1.5°C goal.
The summit comes at a critical moment. Recent scientific reports warn that the window to limit warming to 1.5°C is closing fast, and that current policies put the world on track for nearly 3°C of heating. Whether COP31 can bridge the gap between pledges and reality remains the central question.
This article has been updated to reflect the 2026 context of COP31.