Business Leaders Give Up Traveling to Belém

Executives and representatives of the international financial sector chose to attend climate-related events in Sao Paulo and gave up traveling to COP30, which begins this Monday (10) in Belem (PA). The Climate Implementation Summit, held on Saturday (8), brought together 1,275 people from 52 countries, including investors and business leaders. Swedish executive Ulf Erlandsson, CEO of the Anthropocene Fixed Income Institute, said he canceled his trip to Para after realizing that few of his private-sector peers would attend. "Everyone wants to go where most people are going. For the financial sector, the focus shifted from Belem to Sao Paulo," he said. Participants cited high accommodation prices and Sao Paulos greater infrastructure as reasons for their choice. The city had hosted four major business events linked to the COP the previous week, such as PRI in Person and the COP30 Business and Finance Forum. Organizers and executives said private-sector discussions were concentrated in Sao Paulo this year. "We need everyone engaged in the conversation and doing their part. The important thing is that the connection happens, whether everyone is together in Belem or not," said Marina Cancado, one of the summits organizers.