Hello and welcome to the first edition of Climate Nexus’s new International Climate Briefing! This biweekly product aims to highlight the most important, recent stories on international climate diplomacy, finance, loss and damage, and more. If you have any colleagues you think may be interested in receiving this update every other Wednesday morning, please forward them this email to subscribe here.
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SPOTLIGHT
The Amazon Cooperation Treaty Organization (ACOT) is wrapping up a two-day summit in Belém today, with a final agreement known as the Belém Declaration. The summit was the first time the eight nations, Bolivia, Brazil, Colombia, Ecuador, Guyana, Peru, Suriname and Venezuela, gathered in 14 years. ACOT agreed to combat deforestation and illegal gold mining, elevate Indigenous rights and protections, and establish coordination for sustainable development funds and water management. However, the Declaration fell short of two important goals. Brazilian President Lula da Silva wanted consensus on ending deforestation in the region by 2030, but Bolivia and Venezuela held out. Colombian President Gustavo Petro’s aim of stopping fossil fuel expansion in the basin also failed to reach agreement, with Brazil facing internal rifts over the possibility of a new drilling project near the mouth of the Amazon River and Venezuela's economic dependence on oil.
Belém was an important political and diplomatic test for Lula. But tougher challenges remain - Brazil hosts the G20 and COP30 Presidencies in 2024 and 2025, respectively.
ON OUR RADAR
Sri Lankaannounced on Monday that it will be introducing a Climate Justice Forum (CJF) at COP28 for vulnerable and developing countries, with one of the goals to expedite the loss and damage financing “through an alternative and non-traditional approach” - though it’s not yet clear what this means. Environment Minister Naseer Ahamedalso highlighted debt justice as “essential” for climate-vulnerable and developing countries' mitigation and adaptation interventions. As the Tamlil Guardian reports, Sri Lanka’s history of violence against its Tamlil minority and their forest protectors serves as a complicated backdrop for the initiative.
Do you know anything more about this? We’d love to chat.
WORTH 1000 WORDS
NEWS
Climate Diplomacy
Obstruction: US, allies block major UN development declaration (Devex), China denies reports it obstructed G20 climate discussions (Reuters), China’s G-20 climate wrecking tactics threaten its global role (Bloomberg)
All about PR:Leak reveals ‘touchy’ issues for UAE’s presidency of UN climate summit (The Guardian)
International Finance
Australian aid: Australian aid policy to focus on climate — and countering China (The Washington Post $, Reuters)
Climate impacts credit: 59 countries could see credit ratings fall because of climate (Reuters)
Bonds, sustainability bonds: IDB offers backing for novel sustainability bonds in Ecuador (Bloomberg)
Impacts
Resettlement: Lost and damaged (Nepali Times), Bangladesh is undertaking the world's largest resettlement programme – and the climate is making it harder (The Conversation)
Health: As the climate changes, how doctors treat patients, and medical program curricula, are evolving (AP News)
Heat: Extreme heat costs the U.S. $100 billion a year, researchers say (CBSNews)
At a glance:Study findings suggest that large, one-time “anticipatory cash” transfers before the onset of a shock can build households’ climate- adaptive and resilience capacity, making them a promising intervention to reduce household vulnerability to future climate shocks.
