The challenge of business engagement at COP30

To go or not to go, that is the question on the lips of many corporate executives when it comes to COP30. 

Despite global political narratives turning away from net zero and sustainability, in the corporate world, decarbonising business, greening supply chains and investing in electrification isn’t an exercise in green washing but one of corporate resilience and future proofing operations.

The world is getting warmer, our chances of hitting Paris Agreement climate targets getting less likely and corporate timeframes for risk and return sit beyond the short electoral terms that set political discourse.

Despite record numbers of businesses attending both London Climate Action Week and Climate Week NYC this year, the numbers of CEO’s standing on stages and evangelising about their net zero strategy was significantly reduced. 

The language and messaging has changed, but for many businesses, the ambition and imperative to follow climate science has not. So, going to Belem, Brazil between 10th – 21st November should be a no-brainer, shouldn’t it? 

As it turns out the answer is ‘no’. So, for the coming weeks we will be running our Road to COP30 blog to keep corporates updated about the key themes, opportunities to engage and insights that we glean that could help executives decide whether, when and how to engage with this crucial UN climate change conference.

Logistics

Debates about hotels, travel arrangements and passes have become de-rigueur in the lead up to COP. Often it is partially deserved, this time it isn’t. Belem currently has around 36,000 hotel rooms (expected to rise to over 50,000 by the time COP30 opens). These are being supplemented by cruise ship cabins. Yet the main hub for COP30 is expected to attract around 60,000 – 70,000 delegates.

In short, if you haven’t got a hotel room in Belem yet then you’re either too late or you’re going to be paying exorbitant rates. It is for this reason that many delegates who haven’t yet signed up to go to Belem are planning to go to Sao Paulo or Rio in the expectation that both cities will host more of a business COP than Belem itself.

Belem or Sao Paulo

Even some of the leading global media outlets are unsure where they will be basing themselves, and how many people they will be sending. While the usual major players will have teams in Belem, many are dividing their operations and locating corporate content and events in Sao Paulo. Our advice (incredibly, at this late stage) is to book meetings and events now and build a solid itinerary that meets your business objectives although it’s still very difficult to see how and where business will be able to engage during the two-week COP period. Landing in Sao Paulo or Belem and hoping to move between myriad networking events (as is usually the case at COP) feels a high-risk strategy.

Belem will host a Green Zone, which will be a corporate hub for delegates without a Blue Zone pass but the transport and logistical difficulties, plus the fierce humidity of the jungle, is seeing smaller corporate delegations going to COP30, with many still undecided or opting not to go at all.

Information 

Is hard to come by. While the Brazilian hosts have been clear that they want COP30 to focus on mobilising capital and driving action to fulfil climate and nature pledges, this is very much a ’vibe’ with the detail to be thrashed out at COP30.

The websites for COP30 can be difficult to access and sites often glitch of get blocked, making it more difficult for corporates to work out how they can engage. 

We do know the agenda: 

November 10th –11th: Urban Resilience & Circular Systems

• Adaptation
• Cities, Infrastructure & Water
• Waste Management
• Local Governments
• Bioeconomy & Circular Economy
• Tourism

Nov 12th –13th: Social Development & Ethics

• Health, Jobs, Education, Culture
• Justice & Human Rights
• Information Integrity
• Workers' Rights
• Global Ethical Stocktake 

Nov 14th –15th: Energy & Finance

• Energy, Industry & Transport
• Trade & Finance
• Carbon Markets
• Non-CO₂ Gases

Nov 17th – 18th: Nature & Communities

• Forests, Oceans & Biodiversity
• Indigenous Peoples & Local Communities
• Youth & Small Entrepreneurs

Nov 19th –20th: Food & Inclusion

• Agriculture & Food Systems
• Fisheries & Family Farming
• Women & Girls, Gender Equity
• Afro-descendants
• Science, Technology & Artificial Intelligence

Nov 21st: Closing Day

• Final negotiations
• Presentation of outcomes from the Global Stocktake
• Commitments and declarations

Is it worth going? 

Regardless of the political climate, climate resilience and economic resilience are intertwined, hence continued high levels of corporate engagement on sustainability despite the rather febrile political environment around ESG.

Our expectation is that most large corporates will send senior teams (potentially fewer CEOs and more tier-two executives) but their engagement and discussions on corporate risk and setting environmental policy as a framework for business will remain a sharp focus. 

Belem, as a location, is not as business friendly as previous COPs, and many are anticipating that COP31 (expected to be held in Australia) will be an easier place to engage. However, they will still want to be part of the climate policy, finance and corporate action discussions that take place. Addressing and mitigating climate change is a huge commercial and investment opportunity as well as an environmental imperative (if you believe in that sort of thing, and many still do).

Many corporates are opting to attend the Climate Implementation Summit in Sao Paulo on 8th November ahead of COP30 and / or the COP30 Climate Action Innovation Zone in Sao Paulo between 6-8th November instead of COP30 itself. 

Unless there is a specific reason you need to be in Belem, our advice is that these ’pre-events’ may offer a better platform for corporates to directly engage with one another, although we recommend continuing to monitor events in Belem closely.