Lula Opens Leaders' Summit in Belém, Launches Tropical Forests Fund With $1 Billion From Brazil

Overview

• The two-day leaders' gathering in the Amazon opens the COP30 political phase with 143 delegations and 57 heads of state and government.
• Brazil formally launches the Tropical Forests Forever Fund, pledging $1 billion as the first contribution toward an investment-style vehicle with a roughly $125 billion capital goal and World Bank involvement.
• The COP29 and COP30 presidencies present the Baku-to-Belém Roadmap to mobilize at least $1.3 trillion annually by 2035 through measures including sector taxes, multilateral bank reforms, reallocated SDRs and debt-for-nature instruments.
• Organizers stress the summit is non‑deliberative and meant to set political direction ahead of formal COP30 negotiations from November 10 to 21.
• Lula conducts a full slate of bilaterals with Prince William, Keir Starmer, Emmanuel Macron, Ursula von der Leyen and China’s vice premier, while the United States forgoes high-level representation.