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Why is it important to attend the COP30 Climate Summit?
The U.N. Climate conference generates hundreds of headlines every year about global efforts to save the world from a climate catastrophe. The conference begins in Belem, a Brazilian rainforest city. What exactly takes place at these annual summits, then? What you should know WHAT IS A COP? The annual Conference is called a COP. This stands for Conference of the Parties who signed the U.N. Climate Treaty of 1992. The U.N. The Framework on Climate Change Convention, or UNFCCC, committed countries to work together to combat climate change. The treaty established the principle "common, but differentiated responsibility", which means that the countries with the highest emissions of greenhouse gases have a greater obligation to solve the problem. Brazil is currently the rotating presidency. It sets the agenda for the summit and works throughout the year to rally government leaders toward common goals and actions. The two-week summit is then hosted by the rotating presidency, now held by Brazil. This draws global attention to the problem while allowing national leaders to exchange ideas and be held accountable. The annual summits are a hub for geopolitical, financial and civil society discussion. They project the idea of "a global village" which welcomes all nations, businesses, and financiers. Why should we care about COP30 this year? This year's climate summit is a momentous occasion for many. Brazil hosted the Rio Earth Summit, where the UNFCCC Treaty was signed 33 year ago. The country has insisted that the event will return to its roots this year by acknowledging those who are most vulnerable, including indigenous groups. Some of these groups have joined the talks. Brazil has asked nations to focus on implementing past promises such as a COP28 commitment to phase out the use of fossil fuels, instead of making new ones. COP30 also marks the first time that the previous goal of preventing a warming over 1.5 degrees Celsius has been failed. Brazil chose to host COP30 at the Amazonian city of Belem in order to highlight the importance of the world forests, which remain targets for industries such as logging, mining and farming. Who are the main players at the Summit? The majority of national governments send teams. Many countries will speak in groups that share similar interests. The G77+China bloc of developing nations and the Alliance of Small Island States, which faces an existential danger from rising seas are two of the most prominent voices. The BASIC Group, which includes Brazil, South Africa and India, and the Africa Group are also influential. The United States, which announced in January that it would quit the Paris Climate Change Treaty, has now stepped down from its previous leadership role. China, Brazil, and other countries have filled the void. What Happens at the Summit? The sprawling COP Campus is often a hive, with campaigns trying to bring attention to their cause while corporations lobby for policy changes and seek business opportunities. This year, the side events were not held as usual. Instead, financiers met in Sao Paulo and local leaders in Rio de Janeiro. These events were held in conjunction with a gathering of world leaders at Belem to generate support and momentum in preparation for the COP30, which runs from November 10-21. In the first week of the summit, negotiators from each country will set out their priorities and assess one another's position. Themes will begin to emerge as countries and companies announce their action plans and financial pledges for projects. During the second week of negotiations, national ministers are usually present to discuss final decisions and legal and technical details. This sounds easy, right? The COPs are rarely smooth, as countries compete for deals that suit their national interests and draw red lines. Sometimes the talks can stall and cause acrimony. Negotiators spend many nights in frantic sessions to find compromises. The countries then reconvene and approve the decisions by consensus rather than unanimity. The closing session, which is marked by the hammering of a gavel, almost always takes longer than expected - sometimes even several days. Bring snacks. (Reporting and editing by Kati Daigle, David Gregorio, and William James)
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Governor of Voronezh says that a drone attack in Ukraine temporarily interrupts utilities in Russia's Voronezh
A drone attack overnight by Ukraine temporarily interrupted power and heating in Voronezh (southwestern Russia), a regional governor reported on Sunday. Alexander Gusev, Governor of Voronezh Region, said that the attack on Voronezh - the administrative center for the entire Voronezh area - did not result in any injuries. He added that electronic warfare systems suppressed several drones, which sparked a fire in a utility building. The fire was quickly put out. Gusev stated that safety measures caused a brief change in the central heating temperature in some homes as well as short power outages in certain parts of the city. However, supplies returned to normal later. In its Sunday Telegram update, the Russian Defence Ministry did not mention that drones had been downed in Voronezh. The ministry only reports the number of drones that its units have destroyed, not how many Ukraine launched. The ministry reported that a total 44 drones from Ukraine were destroyed or captured overnight. 43 of them flew over the border region Bryansk, and the other one was intercepted over Rostov in southern Russia. Ukraine has not yet commented. Ukraine has intensified its long-range drones and missile attacks inside Russia. It says these strikes are aimed at oil refineries and depots, as well as logistics hubs that feed the Kremlin’s war machine. Moscow has called the attacks terrorist acts, but Ukraine claims they were legitimate acts of self defense. The war The full-scale invasion by Russia of Ukraine began in February 2022. Reporting by Lidia Kelley in Melbourne, Editing by William Mallard & Raju Gopalakrishnan
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What's the latest climate science as COP30 gathers?
Climate change is accelerating, and extreme weather events and other impacts have a growing impact on the environment and populations around the world. Here are some of this year's developments in climate science. WARMER AND FASTER The global temperatures are climbing not only faster, but also warmer than ever before. New records have been set for 2023, 2024 and even at some points in 2025. This finding was made in a June study that updated the baseline data for the Intergovernmental Panel on Climate Change's science reports. New research indicates that the average global temperature is rising by 0.27 degrees Celsius per decade, or 50% faster than it did in the 1990s & 2000s. The sea level is also rising faster - by about 4.5 millimeters a year in the past decade, as opposed to 1.85 mm a year since 1900. Scientists warn that the world will reach a threshold of 1.5 C by 2030. After this, we may trigger irreversible, catastrophic impacts. According to the World Meteorological Organization, the Earth has already warmed up by 1.3-1.4 C compared to pre-industrial times. TIPPING POINTS The death of warm-water corals is almost irreversible due to successive marine heatwaves. This would mark the first "climate tipping point", when an environment system starts to shift from one state into another. Researchers warned in October that the Amazon rainforest would begin to shrink and change into a savannah if deforestation continued at a rapid rate as global temperatures reached 1.5 C. This is much earlier than originally estimated. Scientists said melting water from Greenland's thawing glacier could cause an earlier collapse of the Atlantic Meridional Overturning Circulation (AMOC), which keeps Europe's winters mild. Scientists are concerned about the declining sea ice around Antarctica where ice sheets also threaten. As in the Arctic region, the loss of ice exposes dark waters that absorb more solar radiation. This amplifies global warming. This also threatens the growth and consumption of CO2 by phytoplankton. Land on Fire Wildfires are still likely to be severe and frequent, along with heatwaves. The State of Wildfires Report, led by a coalition of universities and weather agencies, estimated that 3.7 million square kilometers (1,4 million square miles), or an area the size of India combined, had burned between March 20,24 and February 20,25. The average annual fires for the past two decades was about a third less. The fires did produce higher CO2 than previously, because more dense forests were burned. Researchers are trying to determine the health effects of heat, and how to reduce them. The U.N. weather and health agencies say that about half the population of the world is already suffering from it. They also estimate that worker productivity drops 2-3% per degree above 20 C. A study published in the Lancet journal last October estimated global losses of over $1 trillion due to this lost productivity. The definition of a heat-related fatality is not consistent internationally, but technological advances help scientists bridge data gaps to compare conditions across the globe. In Europe, for example, a team from the UK's Imperial College estimated that more than 24,400 deaths were caused by heat exposure this summer among about 30% of European population. Based on mortality trends, they attributed as much as 70% of these deaths to climate-driven heat. Another team examined mortality data, temperature data, and health parameters to estimate the number of heat-related deaths in Europe during last summer's record-breaking hot weather. This included more than 62 700 deaths, which is about 70%, across 32 countries. SCIENCE UNDER ASSESSMENT The U.S. Administration under climate-denying president Donald Trump hopes to cut funding for agencies that monitor and collect climate and weather data. This is alarming a scientific community who say that U.S. Leadership will be difficult to replace. Trump's budget request for 2026, which has yet to be approved in Congress, proposes cutting NOAA spending by over a quarter, to $4.5 billion, and halving NASA Earth Science's budget to around $1 billion. It also eliminates its climate research division. In other countries, science budgets are increasing. China, Japan, the UK and the European Union have all set records for their science research. Last month, the EU opened up its real-time monitoring of weather data to the public. Reporting by Ali Withers and Kat Daigle from Copenhagen; editing by Ni Williams
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The second external power line has been restored at the Russian-held Zaporizhzhia Nuclear Plant
The Russian operators of the Zaporizhzhia Nuclear Power Plant in Ukraine have confirmed that a second external powerline has been restored. The plant, Europe's biggest with six reactors, was taken by Russian troops during the first few weeks of the invasion of Ukraine in February 2022. Russia and Ukraine accuse each of other's military actions which compromise nuclear safety. The plant does not produce electricity at the moment, but it needs external power in order to cool down the nuclear fuels and prevent the possibility of a meltdown. In a statement cited by Russian news agencies the station's Russian operators said that on Saturday, the second line, known as Ferosplavna-1, was reconnected. The completed work "significantly increased the stability of the power system at the station". Since May 7, the line was down. On October 23, the first Dniprovska Line was restored. The plant was without external power for 30 days with both lines not in operation. It relied on diesel generators. The International Atomic Energy Agency, the U.N. nuclear watchdog agency, was able to arrange a local ceasefire after fighting nearby prevented emergency crews carrying out repair works. The latest ceasefire came into effect on Friday. Chizu Nomiyama (Reporting and editing)
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Sponsored: Energy and Finance Chiefs Call for Sound Policy, Stable Frameworks at ADIPEC
Global finance leaders discuss the new era of energy investment defined by pragmatism, diversification and strategic capital allocation Industry leaders urge fundamentals-based planning amid global volatility, with stable, sound and clear policy frameworks identified as key investment landscape criteria Liquefied natural gas, methane and carbon reduction innovations and emerging markets identified as key investment frontiers Organisations whose speakers shared finance insights at ADIPEC 2025 included Moeve, The World Bank Group, Siemens Energy, NNPC, and PETRONASAbu Dhabi, 05 November 2025: Day 3 of ADIPEC 2025 concluded on 5 November with a resounding call to action for global financiers, policymakers, and energy leaders to accelerate investment in energy and infrastructure. Against the backdrop of high-level dialogue, the event spotlighted the urgent need for scalable capital deployment to meet rising energy demand. With over US$3.3 trillion in global energy investment projected this year, ADIPEC reinforced its role as a catalyst for unlocking strategic partnerships and financial innovation across the energy value chain.Taking place from 3-6 November, ADIPEC 2025 is convening financiers, policymakers and industry leaders to unlock the capital, tools and frameworks needed to transform global energy systems at speed and scale.With energy security and affordability shaping investment decisions, and challenges persisting in emerging economies such as high borrowing costs, investment risks, limited creditworthy off-takers, and regulatory uncertainty, ADIPEC 2025’s Finance & Investment programme has been showcasing how redirected capital flows, evolving portfolios, and inclusive frameworks are strengthening resilience, competitiveness, and long-term decarbonisation.Financing based on sound fundamentals, not short-term market shiftsIn the session titled ‘Commanding the next decade: how leaders are positioning for global volatility and opportunity’, experts discussed long-term financial planning in a dynamic energy landscape, recommending fundamental-based decisions over reactive policy.In the session, Maarten Wetselaar, CEO, Moeve, said:"You always have to invest based on fundamentals rather than on the latest policy change, whether it’s in Europe or the US or wherever in the world, because it takes so long to build energy investments that it’d be a bit risky to respond to the latest coming out of wherever in the world.”Advancing global goals with decarbonisation investmentWhile the global energy industry looks to bring more energy streams online, sector experts advised a continued focus on decarbonising our existing energy system, to ensure long-term energy sustainability. A key part of that is reducing carbon and methane emissions, for which greater investment in technology innovation is required.During a session titled ‘Methane emissions reduction: a decarbonisation priority’, Zubin Bamji, Manager Energy and Extractives Global Department, The World Bank Group, spoke about the critical role of financing in addressing methane emissions reduction.“Finance is one of the key missing elements in this ecosystem of methane and flaring decarbonisation, and the World Bank would like to play a role in that gap. The idea was to provide catalytic funding that is needed in many developing countries or emerging economies for them to recognise that there is actually an opportunity here.”His view was supported by Khalid Bin Hadi, Managing Director, UAE, Siemens Energy, who linked the ability to advance decarbonisation to investment in innovation, saying: “For me, innovation is about solving problems. We need to apply innovation, we need to scale innovations, and that will require three elements: investments, industry partnerships, and true partnership.”Myriad opportunities for energy and infrastructure investment in emerging marketsSeveral rapidly developing emerging market economies are looking to connect capital to resource extraction projects, which is often dependent on cross-sector and cross-border collaboration.In the session titled ‘Strengthening Nigeria and NNPC’s position in global energy markets’, Bayo Bashir Ojulari, Group CEO of NNPC, discussed how Nigeria’s booming energy sector is approaching development. He said: “With production comes the requirement for investment, so we’re focusing on collaboration that starts with the baseline, making our existing partnerships as effective and sharp as possible, while also discussing new partners, new investments, and new opportunities.”The importance of sound, stable, and clear policy in attracting and unlocking finance and investment was another message reiterated by speakers at ADIPEC 2025.Charlotte Wolff-Bye, Chief Sustainability Officer, PETRONAS,summarised the message succintly when she said: “Business works well when we have a line of sight of clear regulation, clear policy, line of sight, all of this. We like that. Most of us operate in many countries. We enjoy that. Investment will flow. The inability to regulate some of these policy commitments, perhaps lack of enforcement, doesn’t help, actually.”ADIPEC 2025 continues through 6 November, with upcoming sessions addressing hydrogen, LNG, digitalisation, and the future of energy systems. Across four days, the conference is turning dialogue into delivery, catalysing partnerships and showcasing solutions that drive inclusive, sustainable progress at speed and scale. Photo Courtesy ADIPEC
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Aker Solutions Extends Services Deal on Hebron Platform off Canada
Aker Solutions has secured a five-year enabling contract extension with ExxonMobil Canada Properties, the operator of the Hebron platform offshore Newfoundland and Labrador.The brownfield maintenance and modification (M&M) contract, valued between $147 million and $245 million, extends the company’s existing engineering, procurement, and construction (EPC) enabling agreement first awarded in 2015.Aker Solutions has supported ExxonMobil on the Hebron platform for nearly a decade, delivering platform-wide upgrades and modifications. The company has also provided multidisciplinary services to Canada’s East Coast oil and gas sector for more than 30 years.Executive Vice President Paal Eikeseth, who heads Aker Solutions’ Life Cycle business, said the company will use its integrated project execution model to deliver efficient and cost-effective solutions.“We will leverage our multi-discipline Project Execution Model to deliver fit-for-purpose solutions with speed and precision, ensuring successful outcomes while reducing costs,” Eikeseth said.The work will be led from Aker Solutions’ St. John’s office, where staffing has grown from 100 to 350 employees in recent years.
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Cleaning woman found dead after wrong house in Indiana
Police in Indiana said that detectives had completed the initial investigation of the murder of a cleaning lady who was mistakenly sent to the wrong address. She was fatally shot by a resident, who was afraid an intruder might be outside. The Whitestown Metropolitan Police Department has submitted its findings to the Boone County Prosecutor's Office to be reviewed to determine if criminal charges will also be filed in connection with the Wednesday's murder. Kent Eastwood told local media that the "castle doctrine", part of Indiana's stand your ground law, complicates the case. The "stand your grounds" law gives individuals the right to defend themselves from a home invasion, sometimes using deadly force. Police identified the slain woman as Maria Florinda Rios Perez de Velasquez. She was 32 years old, from Indianapolis, and according to reports, was a Guatemalan immigrant who was a mother of four. Rios Perez, her husband and two other residents arrived at the house shortly before dawn. One of them fired a gun into the woman's head. The residents had called emergency-911 by then to report that a possible break-in was in progress. Police said that officers found Rios Perez dead and determined she and her husband had been "members of the cleaning crew who mistakenly arrived to the wrong address." Police said there was no evidence that a break-in attempt had taken place. The husband identified by the Indianapolis Star, Mauricio Vélazquez, said to an online news website that he and wife believed they were at a correct address and double checked the location before approaching the home. Velazquez, according to The Star, said that the couple was standing on the porch of the house, located in Indianapolis suburb Whitestown when the shooting took place. The police have not identified who they believe is responsible for the shooting, or the identity of the resident. They say the investigation is a "complex and delicate case" that's still evolving. This incident was reminiscent of recent cases where homeowners opened fire at individuals who were mistakenly misidentified as intruders when they arrived at the wrong address. The county prosecutor who is reviewing the Whitestown matter will have to consider an Indiana state statute that allows people to use deadly force in their home to protect themselves when they believe that they are being threatened by an intruder. Steve Gorman, Los Angeles; Himani Sarkar, editing.
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Nasdaq's worst week since April due to AI rally worries, US yields slide
Investors worried about the sustainability and growth of artificial intelligence stocks, while U.S. Treasury rates dipped. The Nasdaq has fallen about 3% this week. Chip stocks and other tech-related shares have also been among the worst performers. As optimism about AI drove markets to new highs, the Nasdaq gained more than half since April when U.S. president Donald Trump announced tariffs. The Financial Times, however, reported earlier this week that Nvidia CEO Jensen Huang warned the U.S. to be prepared for China's victory in the AI race. We're still seeing the AI selloff after our comments... about China winning in the AI race. "You're seeing multiples being re-calibrated in the space. That's where most of the weakness lies," said Michael O'Rourke. Chief market strategist at JonesTrading, Stamford in Connecticut. You could also see it as profit taking. O'Rourke stated that this has been a great year for stocks, particularly in the group. Bitcoin was also down for the last week but was up 2.9% on the day, at $103,197.07. The S&P 500, Dow, and NASDAQ all ended the day higher after reports that progress was being made in the congressional impasse, which is the cause of the longest government shutdown in U.S. History. The Dow Jones Industrial Average rose by 74.80, or 0.16 percent, to 46,987.10. The S&P 500 gained 8.49, or 0.13 percent, to 6,728.81. And the Nasdaq Composite dropped by 49.45, or 0.22 percent, to 23,004.54. The MSCI index of global stocks fell by 0.68 points or 0.07% to 913.22. The pan-European STOXX 600 fell by 0.55%. The trade data from China was weaker than expected, demonstrating the impact of Trump's tariffs. Data showed that China's exports fell by 1.1% in October. This was the lowest performance since February. The data chills Asian markets, reminding them of China's dependence on American consumers. U.S. Treasury Yields edged down after new surveys showed deteriorating consumer confidence, partially due to the U.S. Government Shutdown, and investors weighed concerns about debt supply. University of Michigan preliminary consumer sentiment index showed that sentiment dropped to 50.3, its lowest level since 2022. This was due to concerns about the impact of the shutdown on the economy. The drop was primarily due to a dramatic deterioration of respondents' perceptions of the current situation, which fell to its lowest level ever. The yield on the benchmark U.S. 10 year notes dropped 0.2 basis points to 4,091% from 4,093% at late Thursday. The U.S. Dollar fell against the major currencies. Since last week, when Federal Reserve Chairman Jerome Powell admitted the risks of further easing measures, it had mostly firmed. The shutdown prevented the release key economic data. Data signals from surveys indicate a resilience which could support the argument for not cutting interest rates at the Federal Reserve meeting in December. The dollar index fell 0.11% on the day to 99.57. The euro rose 0.14% to $1.1563. The dollar gained 0.25% against the Japanese yen to reach 153.45. Prices recovered after a dip in the middle of the day on hopes that Hungary could use Russian crude oil. Trump also met Hungary's Premier Viktor Orban, at The White House. U.S. crude oil rose by 32 cents, settling at $59.75 per barrel. Brent gained 25 cents, settling at $63.63 per barrel. Gold prices were also higher.
US sanctions official: It's time to stop Iran from funding Hezbollah
The top official of the U.S. Treasury Department said that the United States is looking to seize a "moment in Lebanon" to cut off Iranian funding for Hezbollah, and to press the group into disarming.
John Hurley said in a late-Friday interview that Iran managed to send about $1 billion this year to Hezbollah despite the Western sanctions which have ravaged its economy.
The U.S. is waging a campaign of "maximum pressuring" on Tehran to reduce its uranium-enrichment program and regional influence. This includes in Lebanon, where the Iran-backed Hezbollah has also been weakened since Israel destroyed its military strength in a war in 2023-24.
Washington sanctioned last week two individuals who were accused of using money exchanges in order to fund Hezbollah. Hezbollah is considered a terrorist organization by many Western governments as well as Gulf states.
"There is a moment now in Lebanon." Hurley stated that if we could convince Hezbollah of its need to disarm then the Lebanese could regain their country.
The key is to remove the Iranian influence, which starts with the money they pour into Hezbollah, he said in Istanbul, as part of an international tour to Turkey, Lebanon and the United Arab Emirates, and Israel, to put pressure on Iran.
IRANIAN ECONOMY HIT BY SNAPBACK U.N. SANCTIONS
Since September, when the talks to reduce its disputed nuclear activities and missile program failed, Tehran has been relying on stronger ties with China and Russia, as well as regional states, including the UAE.
Western powers accuse Iran secretly of developing nuclear weapons capabilities. Tehran, whose economic situation is now at risk of hyperinflation, severe recession and hyperinflation, claims that its nuclear program was developed solely for civilian purposes.
Israel, a U.S.-aligned country, says Hezbollah has been rebuilding its capabilities. On Thursday it carried out heavy airstrikes on southern Lebanon in spite of a ceasefire agreement reached a year earlier.
The government of Lebanon has pledged to disarm all non-state organizations, including Hezbollah. Hezbollah was founded by Iran's Revolutionary Guards in 1982 and led the Iran-backed “Axis of Resistance”. It opened fire at Israel, declaring its solidarity with Palestinians in 2023 when war broke out in Gaza.
The group, which is a political force also in Beirut has not prevented Lebanese forces from confiscating their caches in southern Lebanon, but it has refused to disarm in its entirety.
Hurley has made his first Middle East trip since he took office in the Trump administration. He has met with bankers, government officials and executives from the private sector to push the case against Iran.
He said: "Even after all that Iran has gone through, and despite the fact that its economy is not in a great state, they still pump a lot money into their terrorist proxies." (Reporting and editing by Christopher Cushing; Reporting by Jonathan Spicer)
(source: Reuters)