Business Leaders Skip COP30 in Belem for Sao Paulo

While world leaders are in Belem for the COP30 climate talks, many business leaders are choosing to stay in Sao Paulo. This is not a coincidence. Sao Paulo is Brazil's business hub, making it easier for executives to meet and discuss climate finance. Most of these business leaders have no plans to visit Belem, where the main climate negotiations will take place. One executive, Walter Mattaliano, explained that traveling to Belem is complicated and logistically difficult. He prefers to stay 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. COP30 is different from previous climate summits. This time, the focus is on taking action rather than making new promises. Business leaders believe this makes it okay for them to stay in Sao Paulo instead of Belem. David Kennedy, who helps companies set climate goals, said what matters is whether businesses take action back home. More than 11, 000 companies have set emissions-cutting targets. This number has tripled since late 2023, thanks to companies in Asia and Latin America. However, the world is still far behind in fighting climate change. Temperatures are expected to rise well above 1. 5 degrees Celsius by 2030. There is some good news, though. Over 1, 000 projects are in development to cut emissions from industrial companies. These companies 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. But there are challenges. LinkedIn data shows that the skills needed for the green energy transition are lacking. Finance, technology, and logistics are some of the sectors facing the biggest gaps. Sue Duke, LinkedIn's global vice president, said urgent action is needed to train workers for the green economy.