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COP30 Opens in Brazil With Finance Drive as U.S. Skips Leaders’ Summit

Brazil positions the meeting around a $1.3 trillion funding roadmap anchored by a Tropical Forests Forever proposal.

Overview

  • About 70 leaders and representatives opened a two‑day forum in Belém ahead of formal COP30 negotiations starting Nov. 10.
  • Lula’s agenda centers on mobilizing $1.3 trillion a year for developing countries and launching a Tropical Forests Forever fund aimed at protecting nearly 1 billion hectares across roughly 70 nations.
  • Norway signaled early support for Brazil’s rainforest initiative with up to 30 billion kroner (about $2.9 billion) in loans, as questions persist over where wider financing will come from.
  • The United States sent no senior officials, China was represented by Vice Premier Ding Xuexiang, and European leaders pressed for action as UN chief António Guterres called overshooting 1.5°C a moral failure.
  • Belém’s limited accommodation and heavy demand created makeshift lodging as large public and Indigenous protests proceeded, while Brazil faced scrutiny over Petrobras’ new Amazon offshore exploration license.