Key Takeaways from COP30 – What CPAs Need to Know
November 2025
The United Nations' annual Conference of the Parties (COP) 30 in Belém, the Amazon city of Brazil, addressed critical themes, including climate finance, energy transition, nature and biodiversity, food systems, adaptation and social inclusion.
While marked by the notable absence of the United States, the most pressing issue at COP30 was the failure to reach consensus on a binding roadmap for phasing out fossil fuels.
However, COP30 did deliver some significant outcomes. The conference unveiled a “Baku-to- Belém Roadmap” to mobilize US$1.3 trillion annually in climate finance to support developing countries. In addition, the parties agreed to triple adaptation finance by 2035.
Two Key Takeaways for CPAs
1. Carbon Accounting Harmonization
Ahead of COP30, the International Organization of Standardization (ISO) and the Greenhouse Gas Protocol (GHG Protocol) announced a strategic partnership to harmonize their GHG standards. At COP30, priority areas were identified for international cooperation to enhance the comparability and interoperability of carbon accounting systems.
Establishing global carbon accounting standards is foundational for climate action. Harmonized standards will bring greater consistency in how companies calculate and report emissions, and provide investors and stakeholders with more comparable information to support decision-making.
What this means for CPAs: CPAs should stay tuned for the development of these standards, participate in consultations where possible, and consider upskilling in carbon accounting to prepare for increased demand for assurance and advisory services in sustainability.
2. Coalition for Carbon Market Integrity
Carbon markets are key to scaling global climate finance and driving cost-effective emissions reductions. However, persistent concerns remain about the integrity of such markets, including weak verification, double counting, lack of transparency and regulation.
To address these concerns, Canada joined the Coalition to Grow Carbon Markets, a global initiative endorsed by 11 governments at COP30. The coalition’s mission is to expand high-integrity carbon markets worldwide by promoting shared principles that emphasize:
- Robust Measurement, Reporting and Verification (MRV)
- Transparent use of offsets
- Strong carbon pricing mechanisms
- Alignment with the Paris Agreement goals
What this means for CPAs: This momentum will drive demand for carbon-credit assurance, audits of offsetting programs, and internal controls on carbon accounting. CPAs have a unique opportunity to build trust and integrity in carbon markets by applying their expertise in accounting, auditing and advisory services, and helping ensure these markets deliver real climate impact.
Background Information
What is The Conference of the Parties?
The annual Conference of the Parties is the main climate decision-making body which assesses progress on the goals set forth by the 2015 Paris Agreement – a legally binding international treaty on climate change under the United Nations Framework Convention on Climate Change (Convention).
What is the Objective of the Convention?
The Convention aims to stabilize greenhouse gas concentrations at a level that would prevent harmful human-made disruption of the climate system. This objective gave rise to the 2015 Paris Agreement, which aims to limit global warming from greenhouse gas emissions to well below 2 degrees Celsius (2°C) – preferably below 1.5 degrees Celsius (1.5°C) – above pre-industrial levels, by the end of the 21st century.
According to the most recent United Nations Emissions Gap Report 2025, global emissions are still off target. Based on revised GHG emission s reduction commitments, known as NDCs (Nationally Determined Contributions), global temperatures are now on a trajectory to 2.3-2.5°C. Since the adoption of the Paris Agreement ten years ago, temperature predictions have fallen from 3-3.5°C, and the technologies needed for deep emissions cuts, such as wind and solar, are widely available and increasingly cost-effective. However, it recognizes the international community can do more to accelerate climate action. Doing so will require overcoming geopolitical challenges, boosting support for developing countries and reforming global financial systems.
To learn more about sustainability reporting standards and regulations impacting Canada, please visit CPA Ontario’s Sustainability Simplified.