LatinNews Daily - 24 November 2025

*The United Nations climate change conference (COP30) has concluded in the Brazilian city of Belém, with 195 countries approving an agreement that does not mention fossil fuels or establish a roadmap towards ending deforestation. The approval of a proposed roadmap for phasing out fossil fuels had been one of the main objectives of the Brazilian government led by President Luiz Inácio Lula da Silva, who had returned to Belém on 19 November to help advance the final stretch of negotiations. Decisions reached in the Belém Package of climate agreements include a commitment to tripling climate adaptation finance by 2035; the conclusion of the Baku Adaptation Roadmap which establishes the work required for 2026-2028 and was agreed at COP29 in Azerbaijan in 2024; and the Mutirão Decision, which reaffirms the need for climate agreements to move from negotiation to implementation. Despite the failure to reach an agreement on fossil fuels, the Mutirão Decision “acknowledges that the global transition towards low greenhouse gas emissions and climate-resilient development is irreversible and the trend of the future”. COP30 also saw the launch of the Tropical Forests Forever Facility (TFFF), a first-of-its-kind mechanism to deliver long-term, results-based payments to tropical forest countries for verified forest conservation. The TFFF has mobilised over US$6.7bn in its first phase, with endorsement from 63 countries.

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