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Home»Economic News»Donald Trump’s exit from Paris climate accord has ‘huge impact’, says Brazil’s COP30 chief
Economic News

Donald Trump’s exit from Paris climate accord has ‘huge impact’, says Brazil’s COP30 chief

January 25, 2025No Comments2 Mins Read
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The decision by the US to withdraw from the Paris climate accord for the second time during President Donald Trump’s term will have significant repercussions on global efforts to combat climate change, warned the newly appointed head of the UN COP30 climate summit.

André Corrêa do Lago, a seasoned Brazilian diplomat and climate negotiator, expressed concerns about the impact of the US exit on global warming mitigation efforts and the potential for other nations like China, India, and Brazil to play a more prominent role in climate discussions.

Trump’s fulfillment of his promise to withdraw from the agreement on his first day in office was met with criticism, as many experts believe the world is not on track to meet the Paris accord goals of limiting temperature rise to below 2C. Corrêa do Lago emphasized the need for collective action to address the climate crisis.

In light of these developments, Argentina’s President Javier Milei is reportedly considering pulling out of the Paris Agreement, a move that could impact the country’s participation in key trade deals.

Corrêa do Lago faces the challenge of bridging a significant funding gap for climate change initiatives ahead of the COP30 summit in November, emphasizing the importance of innovative approaches to climate finance.

Despite Brazil’s progress in renewable energy, concerns remain about the country’s reliance on agriculture and oil production, prompting calls for a just transition away from fossil fuels.

As preparations for COP30 continue, the focus is on restoring confidence in global efforts to combat climate change and promote sustainable development.

Additional reporting by Attracta Mooney in London

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A politician holds a US $1 bill with an image of Brazil’s President Luiz Inacio Lula da Silva on it in Brazil’s Congress this week

Brazil has made strides in clean energy, but challenges remain in sectors like agriculture and oil production.

Efforts to transition to a greener economy must be equitable and consider the socio-economic impact on vulnerable populations.

As the world prepares for COP30, the focus is on innovative solutions to climate finance and sustainable development.

Climate Capital

Stay informed on the intersection of climate change with business, markets, and politics. Explore the FT’s coverage here.

Learn more about the FT’s commitment to environmental sustainability and science-based targets here.

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