US withdrawal from Paris climate agreement complicates financial goals, says COP30 host By Reuters
BRASILIA (Reuters) – Brazil sees an opportunity to boost the voices of developing countries in upcoming climate finance talks, according to comments on Thursday by the leader of the COP30 global summit the South American country will host later this year.
Andre Correa’s comments to Lagos come as world leaders grapple with the United States’ recent withdrawal from the Paris climate accord, ordered by incoming US President Donald Trump.
Correa do Lago told reporters in Brasilia that negotiations are likely to be “difficult” at the COP30 summit compared to last year’s meetings, when the United States was “involved in the policy of combating climate change.”
Expectations for COP30, to be held in the Amazonian (NASDAQ: ) city of Belem in November, include discussions of the long-running dispute over who will pay for poorer countries to transition their economies to cleaner energy and deal with the impacts of global warming.
During last year’s summit in Azerbaijan, a bitter fight pitting rich and poor nations against each other ended with rich countries pledging $300 billion a year until 2035 to help finance the transition and mitigate the impact.
But the pledge is a fraction of the $1.3 trillion a year that developing countries claim they need.
Correa do Lago pointed out that rich countries want to reduce their financial contributions, which he described as “deeply wrong”.
The COP30 leader said Brazil would also seek to reshape its current leadership of the BRICS bloc of developing countries to build consensus among those countries to strengthen their negotiating position ahead of the Belem climate talks.
