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Brazil is hosting three weeks of events linked to the COP30 climate summit, hoping to showcase a world still determined to tackle global warming.
That may be tough in a year marked by economic upheaval and cancelled United States commitments.
Business leaders meeting in Sao Paulo are pushing for stronger policies for financing the energy transition, with an open letter on Monday asking governments “urgently” for incentives to adopt renewable energy instead of fossil fuels.
“It’s a recognition from the business groups of the importance of multilateralism and the importance of raising ambition,” said CEO Maria Mendiluce of the We Mean Business Coalition, which co-ordinated the letter from 35 groups representing 100,000 companies.

In the bustling city of Rio de Janeiro, a significant gathering is set to unfold on Monday as mayors, governors, and various subnational leaders converge for the Local Leaders summit. However, the event might find itself in the shadows of public dissent, following a controversial and violent crime crackdown that took place in the city just a week prior.

Brazil Climate COP30

Outside the pre-COP30 meeting in Brasilia on October 14, protesters made their voices heard, displaying a banner in Portuguese that read, “COP30: Climate can’t wait, it’s time to act.” Their message underscores the urgency of addressing environmental issues in the face of competing global priorities.

Adding to the spotlight on environmental matters, Prince William is scheduled to lead a ceremony in Rio, where he will present his prestigious Earthshot Prize. The award celebrates noteworthy achievements in environmentalism over the past year, highlighting innovative solutions and efforts to combat climate change.

However, countries and companies may be hard-pressed to project the same optimism that has marked climate diplomacy in recent years.
Today, global co-operation is stagnating amid geopolitical tensions and multiple wars.
An erratic series of US tariffs has upended economic stability worldwide, while US reversals on clean energy policy and climate science have rattled investors.

Despite the promising drop in renewable energy costs to levels below those of fossil fuels, the challenge remains formidable. Many nations find themselves balancing environmental goals with other pressing demands, such as ensuring food security and investing in the development of artificial intelligence.

Business leaders still hope to press clean energy policies as a priority.
“It makes strong business sense and ensures energy security and competitiveness,” said Gonzalo Sáenz de Miera, chairman of the Spanish Green Growth Group.
Brazil’s turn as this year’s host marks 33 years since the Rio Earth Summit, where countries first signed the United Nations treaty committing to tackling climate change.
The summit has since developed into a major multilateral forum, bringing rich and poor countries together with scientists and civil society to address the climate threat.

However, progress has been slow in curbing carbon emissions. Although the rate of increase has decelerated, a staggering 40 percent of industrial-era emissions currently in the atmosphere have been released since the signing of the pivotal climate treaty. The need for action has never been more pressing as global leaders grapple with finding viable solutions to this ongoing crisis.

In attending the annual summit, leaders typically aim to confirm their country’s commitment and to hold one another accountable.
But COP30 is likely to see the lowest attendance by world leaders since 2019, when about 50 heads of state went to Madrid for COP25.

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