Overview
- Talks opened in Belém with tens of thousands of participants from about 190 countries, while the United States sent no delegation.
- UN assessments indicate a roughly 2.8°C warming trajectory under current policies, with only about one third of countries submitting new 2035 plans and the EU opting for a 66.25–72.5% emissions-reduction corridor instead of a single target.
- Brazil launched the Tropical Forests Forever Facility to pool public and private capital and use investment returns to reward tropical-forest protection, with design details under negotiation.
- Early pledges to the forest mechanism top $5 billion, including Norway’s $3 billion over ten years and $1 billion each from Brazil and Indonesia, while Germany backs the concept but has not named a contribution.
- Adaptation needs far exceed current flows, with UNEP estimating $310–365 billion a year required to 2035 versus $26 billion delivered in 2023, and UNHCR reporting 250 million climate-related displacements in the past decade with conflict-affected states receiving only a quarter of adaptation finance.