Called PreCOP-30 and running until tomorrow, the meeting’s main objective is to discuss financing for combating climate change and the energy transition in developing countries, many of which have vast natural resources but limited funds to address the environmental crisis.
More than a decade after the Paris Agreement, the financial commitments promised by the richest countries have yet to be met.
At COP29, held in Baku in 2024, it was agreed to triple aid to $300 billion annually, a figure that has yet to materialize, according to UN reports.
Brazilian Environment Minister Marina Silva warned that COP30 comes at a “complex geopolitical moment,” in which climate cooperation and global governance are “at risk.”
Silva noted that the expected results have not yet been achieved and criticized the lack of fulfillment of previous commitments.
Brazil is trying to make a difference. At this month’s UN General Assembly, President Luiz Inacio Lula da Silva announced the creation of the Tropical Forest Forever Fund (TFFF), with an initial contribution of $1 billion.
The goal is to raise up to $125 billion from governments and private investors, generating an annual return of $4 billion to be distributed among tropical countries that protect their forests.
