With the UN Climate Conference (COP30) in Belém, Brazil, approaching, it is clear that the world’s widely shared commitment to a just energy transition is falling by the wayside. In the year since governments signed on to the agreement at COP29 to scale up climate finance – with a goal of mobilising $1.3tn annually by 2035 – wealthy countries have been retreating from their financial pledges. Worse, these signs of bad faith are coming just as the costs of climate adaptation and decarbonisation in developing countries are mounting.If the Global North is no longer willing to meet its funding promises, as now seems certain, it can still demonstrate good faith, nonetheless, through another form of solidarity: sharing the knowledge, technology, and intellectual property that underpin the green transition.This is not an issue that can be deferred. The shift to a green economy is already reproducing the same asymmetries that have long defined global trade. Instead of fostering inclusive development, climate policy is increasingly being shaped by protectionist measures and IP regimes that entrench technological monopolies in the Global North. For example, the European Union’s Carbon Border Adjustment Mechanism may be billed as a safeguard against carbon leakage; but it also illustrates how climate policy can be used to justify protectionist trade measures.Moreover, China’s recent complaint against India for its electric-vehicle and battery subsidies shows how green industrial policies are increasingly becoming grounds for trade disputes. Together, these developments signal a growing tension between climate goals and World Trade Organisation rules. Could measures to address climate change soon become a new impetus for economic exclusion?At the heart of this issue lies a stark imbalance: larger powers like China, the US, and the EU are producing high-value green technologies, while most developing countries are stuck exporting low-value green commodities – primarily critical minerals. This mirrors the colonial-era division of labour, whereby the Global South supplied raw materials, and the North supplied innovation, monopolised production, and reaped the largest profits.Data from the World Intellectual Property Organisation underscore the depth of this divide. Green patents (relating to renewable energy, energy efficiency, and climate adaptation) are overwhelmingly concentrated in a handful of countries, such as China, the US, Japan, and Germany. Between 2000 and 2024, the top ten economies accounted for nearly 90% of international patent filings in solar and wind technologies. Brazil, despite ranking sixth globally in installed wind capacity, contributed only 0.4% of global wind patents. For solar, its share was a mere 0.19%.This technological concentration is not accidental. It is the result of a global IP regime that privileges monopoly profits over public goods. Efforts to foster more global coordination, including through the Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement, have failed to address the fundamental problem.Without access to affordable technologies, the Global South cannot fully participate in the climate transition. Worse, the current system risks locking developing countries into a new form of dependency, supplying the minerals for batteries and solar panels but lacking the means to produce them.Climate finance is not sufficient to break this cycle. Instead, technology transfers and reforms to the global IP regime must be at the centre of climate negotiations. While the UN Framework Convention on Climate Change and the Paris climate agreement do acknowledge this, little progress has been made.Fortunately, there is a precedent for the necessary changes. Back in the 2000s, Brazil played a pivotal role in categorising access to HIV/Aids medicines as a public good, rather than as a commodity governed solely by IP rights. This shift was driven by a combination of legal, political, and civil-society actions that challenged the global pharmaceutical patent regime and put public health first.Brazil’s COP30 presidency can rally the Global South behind a vision of TIP that delivers climate justice through innovation.