COP30 left many of us navigating a mix of determination and unpredictability. Yet these moments also tell us something essential: when multilateral politics slow down, a coalition of the willing accelerates.
The final negotiated text did not reach the level of ambition that Europe, many nations and the private sector hoped to see. While the important agreements on mitigation and adaptation were secured, concrete actions on the fossil fuel transition roadmap fall short of expectations.
Even though the outcome agreement fell short of expectations, more than 80 countries joined forces to create a voluntary roadmap to transition away from fossil fuels. It is incomplete, but it represents something important.
Broader climate coalitions demonstrated that leadership does not pause when politics become challenging. New coalitions were formed. Adaptation finance commitments grew. And many countries are still refining the next generation of national climate plans.
This year, the private sector showed up with more urgency than ever before. Across industries, companies arrived at COP30 with concrete climate innovations, investment plans, and cross-sector commitments. The conversations we had made one thing clear: business leadership is viewed as a stabilizing force in driving climate action and resilience.
Commercial coalitions keep the momentum up
The trends on display in Belém reflect a long-term shift. We will continue to see more targeted bilateral alliances among countries, industries, and cross-value-chain actors. These coalitions focus on practical action: deployment of green technologies, harmonization of standards, and commitments that unlock lead markets.
At Outokumpu, we have long believed in this collaborative path. Our progress in decarbonizing stainless steel — reducing our emissions to up to 75% lower than the industry average — has been possible only through strong partnerships with customers, suppliers, and partners.
There are promising signs already in early adopter markets. For example, during a recent event hosted by our partners UN Global Compact Finland and the Climate Leadership Coalition, we heard how the number of Finnish companies with validated science-based targets has tripled between 2022 and 2024.
The companies willing to invest and collaborate now will benefit from being well positioned as the demand for low-emission materials and supply chains grows.
No company can decarbonize heavy industry alone. The next decade will be defined by ecosystem partnerships: steelmakers, technology providers, logistics partners, and end-customers co-creating solutions that cut emissions across the entire value chain.
Our experience shows this is both possible and commercially viable. In 2024 alone, customers using our low-emission stainless steel avoided 10 million tonnes of CO₂ emissions compared with the global average – that’s the equivalent of the emissions from 51 million train trips around the world. That perfectly exemplifies the tangible climate impact enabled by collaboration.
Policy can also rise to the occasion
One of the most encouraging signals from COP30 was a renewed push for more coordinated carbon pricing. The Brazilian proposal to explore a price-based mechanism — while early — shows increasing alignment that transparent and fair carbon pricing is foundational to industrial decarbonization.
As we emphasize in our COP30 Position Paper, ambitious and globally coordinated carbon pricing is essential for a level playing field and for rewarding companies that invest in low-emission production. A well-designed system, supported by robust border adjustment mechanisms and clear rules of origin, creates conditions where clean materials can compete.
Every year the consensus builds that carbon should carry a price, and companies with credible transition pathways will be the ones to thrive.
One other tool to send a clear signal is the creation of lead markets. For example, creating lead markets for green steel will both strengthen competitiveness and help drive early demand for green steel. Public procurement represents around 11% of EU steel consumption — a lever powerful enough to shift the entire market when aligned with climate goals.
Looking ahead: ambition is still a competitive advantage
Despite the geopolitical complexity visible at COP30, we remain optimistic. Progress is not linear, but the global transition is accelerating in every region, driven by technological innovation, industrial leadership, and a coalition of the willing.
For companies, the message is simple: staying ahead of policy is no longer a risk — it is a competitive advantage. Ambition builds resilience. Collaboration creates momentum. And the choices we make now will shape markets, supply chains, and climate outcomes for decades to come.
The road to 1.5°C is still narrowing, but leadership today can keep it open - the choices we make now will shape markets, supply chains, and climate resilience for decades to come.