South America








Fossil Fuels

Environment

Environment

Brazil's environment minister and climate summit star faces political struggles at home

Brazilian Environment Minister Marina Silva fought tears while global diplomats applauded for several minutes Saturday at the closing plenary session of the COP30 climate summit. She told the delegates in the Amazon rainforest town of Belem that "we've made modest progress, even if it was modest." Then she raised her fist defiantly above her head. "The courage to face the climate crisis is a result of persistence and collective efforts." The Brazilian hosts were able to release their frustrations in the tense room where many nations expressed their displeasure with a deal which failed to mention fossil-fuels, even though they...

Environment

The EU objectors to the proposed deal prolong the COP30 discussions

Brazil's COP30 summit was forced to face a crucial day on Saturday after all-night discussions to break an impasse. The European Union had blocked a deal that it felt would not advance efforts to curb greenhouse gases, which are driving global climate changes. The two-week climate conference, billed as an opportunity to demonstrate that nations could still unite to combat climate change in the absence of the United States, was supposed to end on Friday. However the standoff forced the negotiators to work overtime. The Brazilian presidency tried to reach a compromise over a deal which most of the 200...

Carbon Emissions

New technology could help COP30 achieve its Amazon rainforest conservation goals

COP30 talks on climate change will focus on protecting forests Amazon is using technology to protect the environment A project that uses drones and AI to restore degraded forest Clar NiChonghaile & Rosalind Thacker The mangrove trees, which resemble upside-down tree branches and extend into the waters to provide habitat for crabs and fish, are under threat. Two years ago (coastal erosion destroyed the homes of 15 residents living here on the coast). "It was very strong," Patricia Farias Ribeiro said, a local resident. Researchers are responding by using sensors that cost little to nothing to measure air temperature, rainfall,...

Environment

Belem in Brazil, the host city of COP30, is trying to boost its economy and preserve Amazon rainforest.

Brazil's economic model is designed to benefit locals from a healthy forest. It was developed on the banks of Guama River, where the city Belem borders the Amazon rainforest. The state government of Para, instead of clearing trees to make way for mines and cattle, unveiled this year a research-and-development program that will help locals turn forest products such as acai or Brazil nuts into goods destined for international markets. The program is a part of a larger plan to demonstrate to the world, in Belem, the host city for the COP30 climate summit, that Brazil can protect the Amazon...

Environment

Fire interrupts negotiations at COP30 Climate Summit, forcing evacuation

Officials said that the fire which forced the evacuation of the COP30 Climate Summit in Belem, Brazil, on Thursday has been put out. However, it is unclear whether delegates will return immediately to continue the negotiations. The Brazilian tourism minister informed reporters on the scene that the fire had been put out and that no one had been injured. However, he was unsure if delegates could return to the area of the venue in which the summit negotiations took place today or tomorrow. The summit organizers confirmed that the fire had been brought under control and added that Brazilian fire...

Pollution

Lula, Brazil's Lula, makes a diplomatic push to get an early climate agreement at the COP30 Summit

Brazil's President met with key negotiators on Wednesday at the COP30 Summit in an effort to reach a quick agreement on the most controversial issues of the global climate talks. These include fossil fuels, climate finance and other hot-button topics. Nearly 200 countries have gathered for a two-week U.N. Summit in the Amazonian city of Belem to increase multilateral action on climate change despite the absence from the U.S. There are still rifts over key issues, which is a new test for the international commitment to slowing global warming. Brazil hopes to break the recent trend of climate summits that...

Environment

Launch of UN-backed carbon markets could be delayed by funding issues

Five sources said that plans to launch a U.N. supported global market to trade carbon offset credits hit a snag during the COP30 Summit, as governments struggled to resolve a disagreement over funding in order to get the market running. The U.N. has been trying to create a global carbon market since the early 2000s. At last year's climate summit, rules were agreed on for a U.N. centralised trading system that allows countries and companies to buy CO2 emission credits which represent emissions reductions from poorer countries. It is intended to allow richer countries and companies to count these emission...

Carbon Emissions

Albanese: Australia will not veto Turkey’s COP31 Summit bid

Anthony Albanese, the Prime Minister of Australia, said that Australia would not oppose a successful Turkish bid for next year's COP31 Climate Summit. He warned, however, that a prolonged dispute over hosting rights might undermine the unity needed to assist Pacific Island nations. Australia and Turkey both submitted bids to host COP31 in 2022 and neither have withdrawn their bids. Albanese ruled out joint hosting earlier this week, stating that UN rules prohibit co-hosting for the annual summit. On Tuesday, he stated that there is "considerable concern", from many countries, Pacific nations included, about the possibility of a lack of...

Environment

Five tourists are killed by a snowstorm in Chilean Patagonia

Authorities said that five tourists died in a powerful storm in Chile's Torres del Paine National Park in the southern region Patagonia. They also reported that four other tourists who had gone missing were found alive. Jose Antonio Ruiz said that talks have begun with representatives of the victims' home countries to repatriate their bodies. Authorities said that two Germans, one Briton, and two Mexicans were killed. They added that the weather conditions made it difficult to recover bodies. In a social media message sent to the families of victims, President Gabriel Boric expressed his deepest condolences. Know that Chilean...

Environment

Jamaica asks for $9.5 billion to rebuild after Melissa

Jamaica has spent many years building up a fund to deal with climate-driven disasters. The money was only enough to cover 5% of a storm's cost. Matthew Samuda, Jamaican cabinet Minister, said that Hurricane Melissa left the island with bills of $10 billion. Of this amount only $500 million could be covered by climate-preparation reserve funds. Jamaica has asked wealthy nations to offer urgent grants, investments and concessional financing at the COP30 Climate Summit in Belem. It does not want commercial rate loans, which would burden the country with additional debt, as it faces an uncertain future that is expected...

Energy Markets

Brazil's slow shuffle climate negotiations at COP30 turns into a sprint

Brazil hopes to reach an early agreement at the COP30 Climate Summit on some of its most controversial issues after revealing a bold strategy of negotiation that kept delegates working until the wee hours of Tuesday morning. The two-week Belem summit, which took place in the Amazonian city, brought governments from around the world together to reinforce the U.N. framework for global action that aims to stop rising temperatures and deal with their damage. Brazil, the host nation, wants to reach a deal in two phases: one on Wednesday that includes items that were too difficult a week earlier to...

Carbon Emissions

Demand for carbon credits is fueled by the Big Tech industry

The demand from tech giants for high-quality credits to offset their AI emissions is fueling a shortage, which experts say is what's needed to stimulate investment in this nascent industry. Credits tied to forest preservation projects will be nearly four times as expensive in 2024 due to heavy purchases by companies such as Microsoft and Google over the past two years. Credit experts report that Big Tech collectively has spent hundreds of millions on carbon removals which capture and store CO2 for an extended time, a large portion of this in the past two years. According to CDR.fyi, the total...

Mining

Mining

ASIA COPPER WOEEK-Sources say Codelco's record China offer sparked threats to walk out.

Amy Lv, Tom Daly and Lewis Jackson SHANGHAI/LONDON - Codelco, the Chilean copper giant's offers to Chinese copper purchasers are so high that some have declared they will not sign the term contracts for next year as the significance of the benchmark to Chinese buyers is becoming more and more questioned. Codelco's premium is often used to reference global copper supply contracts. Codelco is by far the world's biggest copper producer, and China is its largest consumer. According to two sources with knowledge of the situation, Codelco offered Chinese buyers an additional $350 per ton over London Metal Exchange rates....

Mining

EU antitrust regulators suspend probe into MMG Anglo American deal

An update posted on the European Commission's website on Tuesday showed that EU antitrust regulators had paused their investigations into MMG, a Hong Kong-listed company which owns Anglo American's Brazilian Nickel business. On November 24, the EU executive, acting as the EU Competition enforcer, halted the clock. The 'clock' can be stopped in merger investigations if parties do not provide important information requested by the Commission (for its assessment of competition) in a timely manner. The Commission will adjust the deadline to reflect the new information once the parties have provided it. The Commission warned in this month that MMG...

Mining

EU delays MMG's acquisition of Anglo American Brazil Nickel assets

MMG, a Hong Kong-listed mining company that owns Anglo-American Nickel in Brazil, announced on Monday that European Commission has extended its review of the deal. Early November, the EU Competition enforcer, the Commission, initiated phase II of the merger investigation. MMG stated on Monday that it was unclear how long it would take the European Commission to complete its review. The extension highlights the need for greater regulatory caution, and increased scrutiny of resource agreements with China. Anglo American announced in February the sale of two ferronickel projects and two greenfields in Brazil. Earlier this month, the Commission warned that...

Mineral Resources

Climate Change

Climate Change

Brazil's Lula claims that'multilateralism wins' despite Trump's opposition

Brazil's president Luiz inacio Lula da Silva said that the G20 climate summit in South Africa, and the COP30 summit in Brazil, show that multilateralism remains alive despite attempts by U.S. Donald Trump to dismantle. "Trump is trying to preach against multilateralism and to reinforce unilateralism. "I think multilateralism is going to win," he said to reporters at the Group of 20 summit in Johannesburg. Lula said that Trump's absence from the summit "didn't really matter" to him. "The G20 is still strong." "We need to put the decisions we made into action," he said. He added that he was...

Climate Change

Erdogan praises a'meaningful deal' with Australia regarding hosting the COP31 Summit

The Turkish president Tayyip Erdoan praised the deal that was reached on Saturday with Australia to host the U.N. Climate Summit next year, calling it a significant achievement for multilateralism. After a long standoff, both countries have agreed that Turkey will be the host of the COP31 Summit in 2026 and Australia will lead the negotiations. Ankara, Canberra and both had bid to host the conference in 2022 and refused to back down since. Erdogan said at an event on Saturday night in Johannesburg, "Considering that multilateralism in recent years has lost ground, I consider this agreement we reached with...

Carbon Emissions

Brazil's Lula presses COP30 negotiators to reach an early climate agreement

Brazil's President was scheduled to meet with key negotiators on Wednesday at the COP30 Summit as part of a push to reach a deal before schedule on some the most controversial issues in the global talks on climate change, including fossil fuels. Nearly 200 countries have gathered in the Amazonian city of Belem for a two-week U.N. Summit to increase multilateral action on climate change. The United States was absent, but the United States is the largest emitter of greenhouse gases. Brazil, the host country, hopes to break the trend of recent climate summits that have run past their deadlines...

Climate Change

Two tourists reported dead after being lost in a snowstorm in Patagonian Chile

Media reports said that rescue workers searched on Tuesday for a group who had gone missing during a powerful storm in Torres del Paine National Park in Chile, located in southern Patagonia. The storm killed at least 2 Mexicans. According to T13, one of the victims died after she was evacuated. Guillermo Ruiz is the delegate of the president for Chile's southern Ultima Esperanza Province. He told T13 the first responders are still searching for seven people but bad weather has complicated the search. The tourists are lost in the Los Perros camp of the national park, Ruiz stated. It...

Climate Change

Can COP30 help frontline resilience in the face of more heat and storms?

COP30 discusses how to measure climate adaptation and pay for it Farmers say that they are not receiving enough climate funding Extreme weather events are increasing and requiring more funding for adaptation. Clar NiChonghaile This kind of climate change is not uncommon in Parana, where the summers are now hotter and the winters colder. Droughts have also become more frequent. Six people were killed by a tornado that struck Rio Bonito do Iguacu, Parana on November 7. Bevilacqua Mendonca (35), wants COP30 to do more for smallholder farmers to adapt to extreme weather by providing them with funds to access...

Climate Change

Study finds that deforestation in Brazil’s Cerrado region reduces soybean production potential

According to a study published on Monday, clearing land for agricultural purposes in Brazil's Cerrado tropical Savanna region leads to drier conditions which ultimately harm soybean yields. The study was first shared with and argues that falling yields drive farmers to clear more land. This further accelerates degradation of Brazil's largest biome, the Amazon, and hinders conservation efforts. Zero Carbon Analytics released a press release detailing the findings of their study. "Our new analyses found that farmers clearing native vegetation to plant soy have climate impacts far beyond the cleared areas," the group said. Brazil's Cerrado Region covers more than...

Climate Change

Australian Energy Minister pushes for COP31 to be hosted at Brazil Climate Summit

Chris Bowen, Australia's energy minister, said he will travel to Brazil on Saturday for the COP30 summit to press Australia to host the summit next year. This is despite a dispute with Turkey over hosting rights. Since then, both Australia and Turkey have refused to compromise on the issue. This month, Australian Prime Minister Anthony Albanese wrote to Turkish President Tayyip Erdoan in an effort to resolve the longstanding tussle. Bowen told reporters at Sydney Airport that a decision would be taken at COP30. He also asserted "Australia has the overwhelming backing of the world" to host the conference next...

Climate Change

Australian Energy Minister pushes for COP31 to be hosted at Brazil Climate Summit

Chris Bowen, Australia's energy minister, said he will travel to Brazil on Saturday for the COP30 summit to press Australia to host the summit next year. This is despite a dispute with Turkey over hosting rights. Both Australia and Turkey bid in 2022 for the United Nations Climate Conference and have refused to give up their positions ever since. This month, Australian Prime Minister Anthony Albanese wrote to Turkish president Tayyip Erdoan in an effort to resolve the longstanding dispute. Bowen stated in a press release that he will advocate strongly for Australia at the summit to be held in...

Climate Change

Brazilian protesters barricade the entrance to the COP30 Climate Summit

On Friday morning in Brazil, dozens of indigenous protesters blocked the entrance of the COP30 Summit venue. They staged a sit-in which forced delegates into a side door to resume their climate change negotiations. During the peaceful protests, security guards increased checks, and long queues formed to get into the compound. The sprawling complex is built on an old airport site in the Amazonian city of Belem. The venue hosts the annual U.N. Climate Conference where delegates of 195 countries are trying to make progress in halting global temperature rises that threaten delicate ecosystems, including the Amazon rainforest. The protesters...

Climate Change

Iceland's view of the Atlantic Ocean current collapse as a security and existential risk

Iceland's climate minister said that the government has classified the collapse of an Atlantic Ocean current as a threat to national security and an existential concern, which allows it to plan for worst-case scenarios. Warm water is brought from the tropics to the Arctic by the Atlantic Meridional Overturning Circulation (AMOC). This warm water flow helps keep Europe's cold winters mild. Scientists warn that the flow of the Atlantic Meridional Overturning Circulation (AMOC) could be disrupted by the cold water from Greenland melting the Arctic ice. The collapse of AMOC would trigger a new ice age in which winter temperatures...

Climate Change

Security clashes with protesters as they force their way in to the COP30 summit venue

On Tuesday, dozens of indigenous protesters forced themselves into the COP30 Climate Summit venue and clashed violently with security guards. The protesters shouted angrily and demanded entry to the U.N. compound, where thousands of delegates are attending the U.N. Climate Summit this year. Some carried flags or signs that said "Our land is not for Sale" or slogans urging land rights. A leader of the Tupinamba tribe, located near the lower reaches Tapajos River on the Brazilian coast, expressed his displeasure at the ongoing development. Gilmar, a man who goes by only one name, said: "We cannot eat money." "We...

Climate Change

Vettel is open to a future F1 role in the motor racing-climate campaign

Sebastian Vettel, the retired Formula One world champion, said that he was open to taking on a new sport role as long as it had meaning. The German spoke at the Sao Paulo Grand Prix, where he raised climate awareness. He won four titles for Red Bull, and his last race was with Aston Martin 2022. "Why not? If it's well-spent time, there's a human element, it's challenging, and I enjoy it, why not?" He said this at Interlagos without giving any details or examples. "There must be a reason." I don't just want to come here to make money....