Overview
- The UN climate summit runs 10–21 November in the Amazon city of Belém, with revised national commitments toward 2035, a fossil‑fuel exit trajectory and adaptation finance at the top of the agenda.
- The United States is not sending senior officials and has signalled a renewed withdrawal from the Paris Agreement, a stance the White House defended as protecting economic and national security.
- The European Union arrived with a last‑minute compromise that keeps a 90% emissions‑cut target for 2040 on paper but allows up to 5% international carbon credits, delays the expanded carbon market to 2028 and includes a review clause, while endorsing a 2035 range previously flagged by ministers.
- Brazil is promoting a Tropical Forest Forever Facility aiming for $125 billion, with early pledges already above $5 billion including $3 billion from Norway, a stated 20% allocation to Indigenous and local communities, an initial $1 billion Brazilian contribution and a public refusal from the United Kingdom to fund it.
- Finance and super‑pollutants are in focus, with the Green Climate Fund reporting a record $3.26 billion in approvals, the OECD saying the $100 billion annual goal was probably reached in 2023, and Bloomberg Philanthropies pledging $100 million for methane as countries discuss potential new commitments.