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.
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