Overview
- About 50 leaders gathered in Belém to launch a two-day summit ahead of next week’s COP30 negotiations expected to draw roughly 50,000 participants.
- UN Secretary-General António Guterres said the world failed to stay under 1.5°C, calling it a moral failure and urging no new fossil projects and a global deforestation halt by 2030.
- President Luiz Inácio Lula da Silva promoted the Tropical Forest Forever Facility, seeking commitments toward $125 billion in capital with satellite-verified rewards for countries keeping annual forest loss below 0.5 percent.
- The European Union set a 2040 target to cut emissions 90 percent from 1990 levels while allowing up to five percentage points via international credits and postponing the ETS2 fuel market to 2028.
- The United States has left the Paris Agreement under President Donald Trump and is not sending high-level representatives to Belém, prompting concerns over finance and consensus-building.