Overview
- The UN climate summit runs November 10–21 in Belém, gathering representatives from more than 190 countries.
- Delegations are expected to negotiate methane reductions, adaptation measures, climate finance, energy transition pathways, and stronger safeguards for the Amazon.
- Brazil’s stance draws scrutiny after an environmental permit for Petrobras to explore the Amazon delta and President Lula’s caution about an immediate end to fossil fuels.
- COP29 left a contested backdrop with reports of a $300 billion per year by 2035 finance objective and a carbon markets accord as analysts highlight governance limits.
- ECLAC reports climate disasters cost Latin America and the Caribbean roughly 1.5% of regional GDP annually, and Argentina arrives with cuts and pauses to key environmental programs.