BCSDA Road to Belém I COP30 Briefing with Ilona Millar (Gilbert + Tobin)

In this final edition of the BCSDA Road to Belém briefing series, BCSDA CEO Andrew Petersen, were joined by Ilona Millar, Partner at Gilbert + Tobin and one of Australia’s most respected climate law and international negotiations experts. Having just returned from the COP30 negotiations in Belém, Ilona provided a clear and grounded assessment of where talks currently stand, what issues remain unresolved, and what matters most for governments, investors, and businesses across Australia.

Inside the negotiations
Ilona unpacked the major files dominating the final days of COP30, including:
The status of the Brazilian “Mutirão” / Belém cover decision and how parties are balancing ambition, equity, and implementation
The political dynamics shaping the potential transition away from fossil fuels, and the competing proposals for a fossil-fuel roadmap
Progress on deforestation and nature, and Brazil’s efforts to elevate the Amazon and global forest protection into the core COP30 outcome
Key debates on climate finance, including how the post-NCQG framework will move from pledges to delivery, and what developing countries are pushing for on access, adaptation support, and Loss & Damage
The state of play on the Global Goal on Adaptation, just transition, and transparency requirements
Ongoing challenges in landing Article 6 carbon market rules, and what options are still on the table

Why this matters for Australian business
Ilona outlined what a COP30 outcome is likely to mean for:
2035-aligned transition planning, including sector expectations across energy, resources, heavy industry, agrifood, and finance
Disclosure and governance, particularly as ISSB, TNFD and emerging social metrics converge
Supply-chain due diligence, especially for companies linked to land, nature, or high-emissions value chains

The growing importance of credible advocacy, as corporate positions are scrutinised against global 1.5°C and deforestation commitments

Key message
COP30 is shaping the global rules and expectations for 2030–2035. For Australian businesses, the direction of travel is clear: faster transition, deeper disclosure, stronger nature alignment, and tighter scrutiny of real-economy implementation.