Key reflections from week one of COP30: Turning ambition into action

As COP30 reaches its halfway point in Belém, Brazil, the message is clear: this is the COP of implementation. A decade on from the Paris Agreement, the focus has shifted from pledges to delivery and accountability. Yet, there are signs of strain. Attendance by world leaders is lower than in previous years, and some, including UK Prime Minister Keir Starmer, have acknowledged a waning consensus amid geopolitical and economic pressures. Despite this, week one delivered tangible outcomes that matter for business and society.

Elevating adaptation through technology

Technology and innovation dominated discussions with the launch of the Green Digital Action Hub and AI Climate Institute, aimed at reducing tech’s environmental impact while harnessing AI for climate solutions. Agricultural technology was another focal point, with the Gates Foundation committing $1.45 billion to scale climate-resilient farming innovations and the Global Methane Hub raising $30 million to cut methane emissions from rice cultivation.

Finance takes centre stage

Mobilising climate finance for developing countries has also been a central theme. Progress on the COP26 pledge to double adaptation finance by 2025 has fallen short, dropping from $28 billion in 2022 to $26 billion in 2023. Talks focused on a new global adaptation finance goal beyond 2025 through the Baku-to-Belém Finance Plan, a roadmap to mobilise $1.3 trillion annually by 2035 through systemic reforms and blended finance. For businesses, this signals growing opportunities and expectations for private capital to drive the transition.

Adaptation finance advanced with the Fund for Responding to Loss and Damage now operational with $250 million in grants. Multilateral development banks pledged $42 billion by 2030 meanwhile Brazil’s Tropical Forests Forever Facility attracted $5 billion in pledges to reward countries for preserving ecosystems.

The Belém Health Action Plan was launched with the support of 80 endorsements from national governments, intergovernmental organisations and philanthropic foundations. With an initial pledge of $300 million, the plan seeks to aid the adaptation of the health sector to build climate-resilient healthcare systems internationally.

Harnessing local and subnational action

Cities and communities were a consistent theme, showcasing their role in climate progress. The Beat the Heat Implementation Drive moved from planning to delivery, mobilising finance to protect 3.5 billion people from extreme heat across 185 cities. Governance innovation featured with the Plan to Accelerate Multilevel Governance (PAS), aiming to embed climate ambition into 100 national plans by 2028 and train 6,000 local officials. Ministers also endorsed a Call to Action to integrate climate action into housing policy by 2030–2035.

Empowering people for a just transition

The human dimension was also a recurring theme in week one with the launch of the Global Initiative on Jobs & Skills for the New Economy aiming to create 650 million jobs in the coming decade, linking climate ambition with shared prosperity. Indigenous-led adaptation projects secured new financing, while efforts to combat disinformation through the Global Initiative on Information Integrity, which gained six new member states, highlighted the importance of trust in climate communication.

Key takeaways for business

Week one underscored that adaptation, technology, and finance are now the pillars of global climate strategy. For businesses, this means responsibility and opportunity:

• Private capital is being called to the front line. The Baku-to-Belém Finance Plan and blended finance models signal that investors and corporations will play a decisive role in mobilising the trillions needed for climate resilience and transition. Companies that embrace these mechanisms, from green bonds to nature-based investment, will not only mitigate risk but position themselves as leaders in the new climate economy.
• The human dimension cannot be ignored. The Global Initiative on Jobs & Skills for the New Economy underscores that climate action is a growth story. Businesses that invest in reskilling, inclusive hiring, and fair labour practices will gain a competitive edge as sustainability becomes synonymous with prosperity.
• Systemic change is reshaping markets. From sustainable procurement to low-carbon housing and AI-driven climate solutions, week one has made it clear that innovation and integrity will define success. Companies that integrate climate resilience into their core strategy, across supply chains, governance, and communication, will thrive in an era where trust and transparency are as critical as technology.

What to expect from week two

The second week brings high-stakes negotiations and major announcements: the Global Methane Status Report (17 November), the Farmers FIRST Agriculture Flagship (19 November), and talks on carbon credit integrity (17 – 19 November). Ministers will join for the high-level segment, where decisions on adaptation finance, energy transition, and private capital mobilisation will set the tone for COP30’s final outcomes.