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COP30 Leaders' Summit Opens in Belém With Finance Push and U.S. Void

Organizers frame the Amazon gathering as a test of converting pledges into finance with the U.S. role curtailed.

Overview

  • A two-day leaders’ meeting begins ahead of the Nov. 10–21 talks, with the heads of the three biggest emitters absent and China represented by Deputy Prime Minister Ding Xuexiang.
  • Brazilian President Luiz Inácio Lula da Silva is expected to unveil the Tropical Forests Forever Fund, described as a permanent trust designed to leverage private capital for rainforest protection.
  • With no senior federal delegation from Washington, California Governor Gavin Newsom will attend with a high-profile state team to showcase subnational climate action.
  • Business and finance leaders are convening in São Paulo rather than traveling to Belém, reflecting logistical hurdles in the host city and a deliberate focus on dealmaking forums.
  • UN assessments report late and inadequate national targets for 2035, underscoring the gap between current pledges and the 1.5°C pathway.