COP30, Typhoon Kalmaegi and Japan’s bear attacks

Climate Focus

By Sharon Kimathi, Energy and ESG Editor, Reuters Digital

Hello!

Today's newsletter will summarize all the latest from the United Nations' COP30 climate conference in Brazil. So far, there's been a scolding, a warning and plenty of deals.

Let's start with some scolding.

First up, the U.N. Secretary-General Antonio Guterres tore into nations for their failure to limit warming to 1.5 degrees Celsius, as Brazil hosted world leaders for a summit ahead of the COP30 climate conference in the rainforest city of Belem.

"Too many corporations are making record profits from climate devastation, with billions spent on lobbying, deceiving the public and obstructing progress," Guterres said in his speech. "Too many leaders remain captive to these entrenched interests."

Countries are spending about $1 trillion each year subsidizing fossil fuels. Leaders have two clear options, Guterres said: "We can choose to lead – or be led to ruin."

Scientists have confirmed the world is set to cross the 1.5 C warming threshold around 2030, risking extreme warming with irreversible consequences. Click here for my YouTube short video about that report.

Now for the warning, as Brazil's President Luiz Inacio Lula da Silva warned that "extremist forces" were spreading lies about climate change for political gain, as he urged fellow leaders at a global climate summit in Brazil to take action against global warming.

One of those forces he may have been alluding to was none other than U.S. President Donald Trump, who made his views clear at the U.N. General Assembly in September when he described climate change as the world's "greatest con job".

Three European officials told Reuters the European Union has been preparing for multiple scenarios at COP30 – including the U.S. skipping it entirely, actively participating and seeking to block deals, or staging sideline events to denounce climate policies.

Want to get more insight on COP30 deals? Since I've reached my word limit, how about checking out this exclusive story on European nations throwing their weight behind a $2.5 billion plan to save the Congo rainforest or how a climate finance platform co-founded by MUFG, Japan's biggest financial group, has raised an initial $600 million to help countries in developing markets adapt to the impacts of climate change.

Typhoon Kalmaegi pummelled coastal regions with destructive winds and heavy rain in Vietnam where it killed at least five people, officials said on Friday, following the storm's deadly passage through the Philippines, leaving at least 188 people dead.

Authorities have warned of more heavy rainfall of up to 200 millimetres (8 inches) in central provinces from Thanh Hoa to Quang Tri, and said rising river levels from Hue to Dak Lak could trigger flooding and landslides.

Scientists warn such extreme events will only become more frequent as global temperatures rise.

People push and carry buckets of mud from inside homes after heavy flooding brought by Typhoon Kalmaegi in Cotcot, Liloan, Philippines. REUTERS/Eloisa Lopez

A new U.N. report warns that record wildfires and soaring temperatures are putting decades of forest growth at risk across the northern hemisphere, potentially turning the world's great carbon absorbers into carbon emitters. If current trends continue, these forests could reach a tipping point where they begin releasing more carbon than they absorb, it warned.

Meanwhile, Norway said it will contribute about $3 billion to the Tropical Forests Forever Facility, a multilateral fund proposed by Brazil to support global conservation of endangered forests, sources told Reuters.

EU climate ministers struck a last-minute deal to cut emissions by 90% by 2040 from 1990 levels but with new flexibilities that weaken the goal.

The compromise, reached after all-night talks ahead of the COP30 summit in Brazil, allows countries to use foreign carbon credits for up to 5% of their target. Danish Climate Minister Lars Aagaard, who chaired the negotiations, said the deal was crucial to securing agreement before the global climate meeting.

Jamaican Prime Minister Andrew Holness said Hurricane Melissa – the island's strongest storm ever – caused up to $7 billion in damage to homes and key infrastructure, wiping out nearly a third of last year's GDP. He warned that short-term output could plunge up to 13% as the nation begins to rebuild.

Japan has called in the troops to fight bears. After a record wave of attacks, the Self-Defense Forces were deployed to the northern town of Kazuno, where hungry bears have been roaming near homes and attacking residents. Locals have been told to stay indoors at night and avoid the woods, as sightings soar to over 8,000 this year – six times higher than usual. With attacks still rising, even a temporary military presence is a welcome relief for frightened communities.

Click here for a video of representatives of Indigenous communities performing a ritual outside the COP30 venue as the World Leaders Climate Action Summit kicked off.

If you're in the mood for another climate protest story, then check out French artist James Colomina's art installation on drowning life-size red figures floating face down in an Amsterdam canal and holding a flag reading "I'm fine" to protest global climate change policy.

I noticed this graphic in an excellent piece by Reuters reporters Valerie Volcovici and Richard Valdmanis on the 30 years since the first COP that I used in yesterday's newsletter, and spotted a little something. Can you guess what it is? It's Canada's place on the chart! The number one fossil fuel consumer. Canada has often gotten off lightly in the discussion on high fossil fuel usage with the usual culprits bearing the brunt of criticism – the U.S., China, Russia, and the EU.

In fact, Canada's new Prime Minister Mark Carney used his first budget to scrap a cap on oil and gas emissions in favor of other measures like strengthened industrial carbon pricing and the deployment of carbon capture and storage technology. The move has been criticized by some members of his own party for backing away from the Liberals' focus on the environment. Click here for more on the story.

That's the amount needed per year to scale climate finance according to COP30 host Brazil. 

The almost 100-page document, dubbed the Baku to Belem Roadmap, follows months of talks with stakeholders since the close of last year's event in Azerbaijan. Providing more finance is central to maintaining trust in multilateral climate efforts as emissions continue to rise, leaving some of the poorest countries at more risk of extreme weather events.

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