COP31: Fossil fuels and climate finance at the heart of negotiations

COP31 will open in Antalya next week, with negotiations focused on phasing out fossil fuels, financing the transition and implementing climate commitments. The planet has temporarily exceeded the 1.5°C threshold, while demand for coal, oil and gas remains strong, driven in part by data centres and artificial intelligence. Geopolitical crises, from Ukraine to the Strait of Hormuz, are also prompting countries to rethink their energy supplies. NewClimate Institute climate policy expert Niklas Höhne says negotiations remain stuck on questions including who emits greenhouse gases and how much; vulnerable countries are awaiting promised funding, and the United States is not expected to attend.