Overview
- The two-day leaders’ summit opened in Belém ahead of Nov. 10–21 negotiations, setting a focus on turning past pledges into financed action.
- President Luiz Inácio Lula da Silva is promoting the Tropical Forests Forever Facility, a permanent trust for rainforest protection targeting roughly $4 in private capital per $1 contributed and outlined at about $125 billion.
- The White House is not sending senior officials, with European leaders attending, China represented by Deputy Prime Minister Ding Xuexiang, and U.S. state leaders such as California Governor Gavin Newsom signaling engagement.
- Severe lodging shortages in Belém have led to docked cruise ships and converted public buildings for housing, while many business and finance conferences are convening in São Paulo.
- UN assessments report that many countries have not filed updated 2035 targets and the pledges submitted so far fall well short of a 1.5°C pathway.