Overview
- The UN climate summit is scheduled for November 10–21 in Belém do Pará, placing the Amazon at the center of global negotiations.
- Delegates are set to update national climate pledges and seek predictable funding for mitigation and adaptation, with calls for clearer rules on carbon markets.
- Brazil’s hosting role is complicated by a recent permit allowing Petrobras to explore for oil in the Amazon delta and by President Lula’s remarks questioning an immediate fossil-fuel phaseout.
- Reporting on COP29’s outcome diverges, with one account calling it a failure and another citing a financing goal of at least $300 billion annually by 2035 plus a carbon markets accord, increasing pressure for concrete results at COP30.
- Regional readiness is uneven as Mexico enters with a 2024 strategy targeting a 35% emissions cut by 2030 but needs legal certainty and international finance, while Argentina’s federal retrenchment contrasts with new provincial climate plan validations.