Reflections on COP30: Signals for climate action in 2026

From November 10 to November 21, 2025, leaders from around the world gathered in Belém, Brazil, for COP30. Situated on the outskirts of the Amazon Rainforest, Belém offered a striking backdrop for attendees to remember what they are working toward: preserving and protecting these ecosystems. To some, it may seem like global sustainability commitments have slowed or stalled, but the conference presented a different reality, one rooted in cautious optimism with a bias toward action and momentum.

During a McKinsey Live event, senior partner Sanjay Kalavar and partner Mekala Krishnan shared their takeaways from COP30, including how the conversation around decarbonization has changed, the nuance required to carry forth the net-zero transition, and the successful methods companies have used to make meaningful, incremental change.

• The stakes are high, but so are hopes. Already about 15 percent of the technologies that would need to be deployed by 2050 to meet Paris Agreement targets are in place. That number may seem low, but it indicates progress. Companies are now assessing how they can drive differential progress while keeping broader objectives, including affordability, energy security and durability, in mind—for example, by widening the scope of energy technologies they use or better aligning climate commitments into business strategies.
• The energy transition looks different regionally. Originally, net-zero goals centered on decarbonizing power supplies and electrifying fossil-fuel-consuming equipment. That goal may work for some geographies but not all. In areas that don’t rely on liquid fuels, have industrialized economies, and have smaller energy capacities, deploying renewables is essential—and easier. Inversely, fossil-rich economies must seek alternate ways to meet net-zero ambitions, including focusing on carbon capture, lower-emitting fuels, and energy sources such as hydrogen and geothermal power. Knowing different regions must take different paths, the question becomes: Can these paths converge to reach the same goal?
• Leading companies are scaling and adapting with sophistication. Geographies and companies that have been successful at scaling lower-carbon technologies have assessed customer demand, obtained financing based on customer commitments, and then developed an entirely new supply chain. In short, success requires an operating model change. It also requires companies to recognize that acceleration goes together with adaptation. Companies that can anticipate and mitigate climate risks will be better suited to protect their direct operations and provide services and products for other companies. Moreover, companies that can use other forces, such as AI and data center buildouts, as a tailwind could make greater progress with climate commitments.

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For more on this topic, see the articles “The hard stuff 2025: Taking stock of progress on the physical challenges of the energy transition,” “Advancing adaptation: Mapping costs from cooling to coastal defenses,” “What’s next for climate tech?” and “‘Innovation Execution’—a new industrial paradigm emerges,” on McKinsey.com.