Overview
- Brazil sent a late‑Monday letter urging countries to settle core elements of an agreement by Tuesday night so final decisions can be taken by Friday.
- Climate finance remains the sticking point, with the Bakú–Belém roadmap targeting about $1.3 trillion a year to 2035 still under debate and prior $300 billion pledges falling short, even as the Loss and Damage fund opened its first call for proposals.
- Negotiators are weighing a credible pathway off fossil fuels while Brazil faces scrutiny for licensing Petrobras to drill in the Amazon river mouth basin, as President Luiz Inácio Lula da Silva argues oil revenues can fund a just transition and promotes a new tropical forests fund.
- Large Indigenous mobilizations have marked the talks, including entering the restricted Blue Zone and blocking the main gate, to demand territorial protection and an end to fossil‑fuel projects.
- Geopolitical strains are evident, with the United States lacking high‑level political representation and Argentina arriving with a reduced team and uncertainty over submitting an updated national climate plan.