Business Leaders Skip COP30 in Belem for Sao Paulo

While world leaders gather in Belem for the COP30 climate talks, many business leaders are choosing to stay in Sao Paulo. This strategic decision is no coincidence, as Sao Paulo serves as Brazil's business hub, facilitating easier meetings and discussions on climate finance.

The Logistics of Climate Talks

Walter Mattaliano, an executive, explained that traveling to Belem is complicated and logistically difficult. He prefers to remain in Sao Paulo, where he can focus on his green steel project. Borge Brende, the head of the World Economic Forum, also noted that Sao Paulo is a major business center in Latin America.

A Shift in Focus

COP30 differs from previous climate summits. This time, the emphasis is on taking action rather than making new promises. Business leaders believe this makes it acceptable for them to stay in Sao Paulo instead of Belem. David Kennedy, who helps companies set climate goals, stated that what matters is whether businesses take action back home.

Progress and Challenges

• Over 11,000 companies have set emissions-cutting targets, a number that has tripled since late 2023, thanks to companies in Asia and Latin America.
• However, the world is still far behind in fighting climate change, with temperatures expected to rise well above 1.5 degrees Celsius by 2030.

Hope on the Horizon

There is some good news: over 1,000 projects are in development to cut emissions from industrial companies, which are responsible for about a quarter of global emissions. Faustine Delasalle, the head of a non-profit organization, said governments and investors have a chance to turn these plans into reality.

The Skills Gap

Despite the progress, challenges remain. LinkedIn data shows that the skills needed for the green energy transition are lacking, particularly in finance, technology, and logistics. Sue Duke, LinkedIn's global vice president, emphasized the need for urgent action to train workers for the green economy.