Summary

The United Nations will hold the 30th UN Climate Change Conference (COP30) in Belém, Brazil, from 10-21 November. The conference marks 10 years since countries adopted the Paris Agreement in 2015. Leaders will focus on strengthening climate commitments, increasing climate finance, protecting nature, improving food systems, and implementing existing climate goals. Governments are expected to strengthen their climate pledges, while businesses are already increasing investments in green technologies. COP30 also emphasizes forest protection, greater climate finance, and sustainable agriculture, all of which play an important role in global trade and export businesses.

COP30 Places Climate Commitments and Green Markets at the Center

The world is gathering in Belém, Brazil, for COP30 at a time when climate action has entered a new phase. This conference takes place 10 years after the Paris Agreement was signed in 2015, making it an important milestone for reviewing global climate efforts.

Earlier climate discussions were largely driven by governments. Today, businesses have become much more active. Green industries are expanding, clean technologies are growing, and companies are increasingly investing in climate-friendly solutions.

At the same time, political support for stronger climate policies has become less certain in several parts of the world. This has created a gap between what countries need to achieve and what many governments have currently committed to deliver.

COP30 is expected to examine whether the systems created under the Paris Agreement are producing the expected results.

The business case for climate action has also become stronger over the years. According to information presented during the lead-up to COP30, members of a major global business climate alliance reduced their combined emissions by 12% between 2019 and 2023 while increasing revenues by 20% during the same period.

Updated Climate Plans Show Slow Progress

The market for green technologies has expanded rapidly since 2015. Industries such as solar panels, wind turbines, electric vehicles, and battery manufacturing now generate more than $700 billion annually worldwide. This reflects the increasing commercial importance of cleaner technologies.

However, businesses continue to face challenges, including policy uncertainty, fiscal pressures, and geopolitical tensions. These factors have created additional hurdles even as investments in green industries continue to grow.

Another major focus of COP30 is the submission of updated Nationally Determined Contributions (NDCs 3.0). Through these climate plans, countries will outline their strongest commitments to reduce emissions and tackle climate change between 2025 and 2035. They are expected to align their plans with the global goal of limiting warming to 1.5°C.

Progress has been slower than expected. At the time of writing, 69 major economies, representing 61% of global greenhouse gas emissions, had submitted their updated plans.

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Current assessments show that the commitments countries have submitted would reduce global emissions by only about 10%. However, scientists estimate that the world must cut emissions by around 60% to stay on track to limit global warming to 1.5°C.

The first Global Stocktake completed during COP28 in 2023 also found that current global policies are placing the world on a path toward approximately 3°C of warming, highlighting the gap between present commitments and long-term climate goals.

The latest synthesis report from the UN Framework Convention on Climate Change shows that many countries have started reducing their greenhouse gas emissions. The report also says that governments increasingly view stronger climate action as essential for economic stability, job creation, energy security, and affordable energy.

At the same time, the report makes it clear that countries must reduce emissions much faster and on a much larger scale to meet global climate goals.

Momentum has continued to build before COP30. Around 100 countries, representing roughly two-thirds of global greenhouse gas emissions, have submitted or announced updated climate plans. Several major economies have also introduced economy-wide emission reduction targets covering all greenhouse gases and sectors.

Nature Protection, Climate Finance, and Food Systems Become Central Themes at COP30

Nature conservation has become one of the central topics at COP30. Holding the conference in Belém, which serves as a gateway to the Amazon rainforest, places global attention on one of the world’s most important forest regions.

The Amazon contains around 60% of the world’s largest tropical forest. Forests play a major role in absorbing carbon, supporting biodiversity, and regulating water and soil systems.

Despite their importance, around 6.7 million hectares of primary tropical forest were lost during 2024. This represented an increase of approximately 80% compared with 2023, with fires being the main reason for the increase.

One of the biggest initiatives at COP30 is the proposed Tropical Forest Forever Facility. The program aims to provide long-term financial support for countries that conserve and restore tropical forests.

Under the proposal, the blended finance fund could eventually reach $125 billion and distribute as much as $4 billion every year to eligible countries that maintain tropical forests.

Climate Finance Remains a Major Challenge

At least 20% of these funds would be directed to Indigenous Peoples and local communities that help protect forest ecosystems. The initiative focuses on rewarding countries for conserving forests rather than exploiting them.

Nature-based solutions also remain an important part of climate discussions. Efforts continue to support global reforestation and ecosystem restoration through programs that encourage the protection and growth of forests.

Climate finance remains another major topic during COP30.

Earlier discussions at COP29 resulted in the Baku Finance Goal, under which developed countries committed to provide at least $300 billion annually by 2035 for developing countries.

However, this amount remains well below the estimated $1.3 trillion in annual international climate finance considered necessary by vulnerable countries to address climate challenges.

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Governments have acknowledged that private-sector investment will play a major role in increasing climate finance. However, detailed mechanisms for mobilizing large-scale private capital are still developing.

Countries also face a major funding gap for climate adaptation. The latest Adaptation Gap Report estimates that they need about $310 billion every year to prepare for and respond to climate impacts such as rising sea levels, heatwaves, and more intense storms. However, current adaptation finance remains well below this level.

Current annual spending on adaptation stands at only $26 billion, creating a significant funding gap.

One of the objectives during COP30 is to advance discussions on a “Baku to Belém Roadmap,” which seeks to identify funding from governments, private investors, philanthropic organizations, and multilateral development banks.

Agriculture, Implementation, and Global Climate Action Take Priority

Agriculture and food systems have also become major priorities during COP30.

These sectors account for around one-third of global greenhouse gas emissions, making them an important part of climate discussions.

Brazil, as one of the world’s leading agricultural producers, is highlighting sustainable food production throughout the conference.

Agriculture and food systems have been included among the six thematic areas under the COP30 Action Agenda. The objective is to encourage voluntary climate action involving businesses, investors, cities, governments, and civil society.

Efforts are also underway to encourage resilient food production through collaboration between agricultural producers, industry participants, and research institutions.

The conference itself reflects this approach. Through the Na Mesa da COP30 initiative, at least 30% of the food served during the summit will come from family farmers and agroecological producers.

COP30 is also being described as “the COP of implementation.” The focus is on putting previously negotiated climate commitments into action rather than introducing entirely new agreements.

The conference agenda combines stronger climate commitments, nature conservation, climate finance, sustainable agriculture, and implementation under one framework.

Governments, businesses, and civil society groups will gather in Belém to review how countries are putting their climate commitments into action. At COP30, they will assess how policies, climate finance, and practical measures are helping different sectors of the global economy achieve existing climate goals.