Overview
- Nearly 200 parties adopted the Mutirão text in Belém, referencing COP28 but stopping short of an explicit, binding roadmap to phase out fossil fuels.
- The agreement calls for efforts to at least triple adaptation finance for developing countries by 2035, to be met within an overall climate‑finance envelope previously pegged around $300 billion a year.
- Delegates established a three‑year dialogue linking trade and climate policy, a priority for China and emerging economies concerned about measures such as the EU’s carbon border rules.
- Outside the UN text, Brazil launched a new forest protection fund with roughly $5.5 billion in initial pledges and a long‑term goal of $125 billion, with contributions pledged by Brazil, Norway, Germany, Indonesia, France and Portugal.
- Talks were marked by disruptions and sharp divides, including a venue fire that led to 19 people treated for smoke exposure, large civil society and Indigenous protests, EU acceptance of the compromise to keep the process alive, and the absence of a U.S. delegation.