The US is withdrawing from the Paris Agreement and will not send negotiators to COP30 in Brazil, raising concerns about the viability of global, multilateral climate action. (Semafor)
While the US exit is seen as a major blow, COP29 president Mukhtar Babayev noted that China, Australia, Brazil, Turkey, and EU nations are taking more active roles.
At COP29, wealthy nations pledged at least $300B per year by 2035 for climate adaptation and mitigation in poorer nations, but contributions remain well below that figure as defense spending rises and aid budgets shrink.