news update
COP30 Kicks Off: Here’s What It Means for U.S. Companies
This year’s UN Climate Change Conference (COP) conference in Belém, Brazil (November 10–21), is expected to be a pivotal moment for countries and the private sector to accelerate climate ambition.
In this Q&A article, Lucas Ribeiro, Senior Manager of the UN Global Compact’s Climate Ambition Accelerator, reflects on where COP29 left off and what’s ahead for the American private sector at COP30.
This is the first in a three-part series from UN Global Compact Network USA. In the coming weeks, we’ll share insights from business leaders on the ground in Belém, as well as a post-COP30 wrap-up summarizing key outcomes and next steps for companies.
- What were the most consequential outcomes of COP29 for companies, and why do they matter now as we head into COP30?
Last year, COP29, the “Finance COP”, resulted in important goals for climate financing. We saw a new Collective Quantified Goal on Climate Finance, which tripled finance from $100 billion to $300 billion annually by 2035, in addition to securing efforts to mobilize $1.3 trillion annually from public and private sources.
Now, COP30 must be a turning point, offering an opportunity to show that the Paris Agreement is working and that climate action can unlock economic and social benefits.
It is a good time for companies to be intentional and strategic with climate action.
The cost of inaction, with escalating food prices, insurance, and other climate-related risks, will threaten business operations and long-term planning. Companies aligned with a 1.5°C trajectory will be best-placed to thrive as the global economy undergoes a just transition to a net-zero future by 2050.
- Which themes at COP30 should companies be watching most closely, given their potential to shape global policy, finance, or market trends?
The COP30 Presidency has been very clear in their preparation for COP and in their letters: COP30 is more than discussions and commitments; it is about action.
The conference will emphasize implementation and the moment we transition to the “post-negotiation” phase.
The thematic days highlight COP30’s ambitious plans and stress the interconnectedness between climate action and many other issues, including nature, energy, food systems, national and subnational action, human rights, and cross-cutting enablers like technology and finance.
Some key topics for businesses to keep an eye on are:
- Mitigation – The urgency to close the emissions gap. The new Nationally Determined Contributions (NDCs)—each country’s national climate targets—are crucial to shaping progress through 2035. While the United States has moved to withdraw from the Paris Agreement, global mitigation targets established at COP30 will continue to influence international markets and investor expectations. U.S. companies with global operations or suppliers in regions tightening climate regulations may face new reporting requirements, growing exposure to carbon pricing, and stronger pressure to align with the 1.5 °C pathway through credible transition and net-zero strategies.
- Adaptation and Resilience – National Adaptation Plans and Adaptation Finance. Key aspects to increase resilience to current climate impacts, especially for the most exposed populations. For U.S. companies, these conversations highlight the growing need to manage physical climate risks across operations and value chains through more advanced risk assessment and disclosure practices and by embedding resilience planning into long-term business strategy and investment decisions.
- Finance – Climate Finance must go beyond pledges and commitments. The New Collective Quantified Goal (NCQG) is set to mobilize $1.3 trillion annually, operationalize the Loss and Damage Fund, and finalize the rules for a Global Carbon Market. These outcomes could shape how capital flows toward mitigation and adaptation and may influence access to blended finance, the credibility of carbon markets, and investor expectations for measurable and credible climate action.
- The U.S. is not expected to send a formal government delegation to COP30. How might this influence international discussions, and what role does the American private sector play in filling that gap?
While a formal delegation may be absent, the American private sector’s leadership, supported by multi-stakeholder platforms like the UN Global Compact, ensures that the U.S. continues to make meaningful contributions to global climate dialogue and action.
In international discussions, U.S. companies can demonstrate the value of climate-related initiatives. These initiatives build business resilience, helping companies with competitiveness, risk management, and long-term value creation.
There are clear signs of progress in the U.S. private sector and across the globe, as the UNGC - ACCENTURE 2025 CEO STUDY points out:
- 88% of interviewed CEOs say the business case for sustainability is stronger today than it was five years ago.
- 99% plan to maintain or expand their companies’ climate, environmental, and social commitments.
- Sustainability is no longer peripheral: 86 % of CEOs say it is already integrated into their core operations.
And American business leaders are not alone. The UN Global Compact is here to support companies in their journey, with offerings on mitigation (SBTi-focused activities, Climate Ambition Accelerator), Adaptation and Resilience (Introduction to Just Transition: A Business Brief), Finance (Foundations paper on financial institutions’ net-zero targets setting, SBTi), Just Transition (Just Transition Think Lab), and more.
- As COP30 approaches, what can companies do to prepare—both to engage meaningfully during the conference and to position themselves for what comes next?
The 1.5°C goal is still possible, even with an overshoot, but it demands urgent and decisive action.
And it makes business sense! Taking climate action helps future-proof businesses. It helps future-proof operations through improved efficiency, reduced costs, and enhanced reputation among customers and suppliers. Companies aligning their strategies with a 1.5°C pathway will be best positioned to succeed as the global economy transitions toward a just and net-zero future by 2050. The private sector will play a key role in implementing and accelerating decarbonization and adaptation plans. On October 28, UNFCCC launched the 2025 NDC Synthesis Report, assessing the updated NDCs and plans to achieve them. This “new generation of NDCs” often refers to the private sector as a co-developer and co-implementer of solutions, and a key stakeholder regarding financing climate action. You can read UN Climate Change Executive Secretary Simon Stiell’s reaction to the NDC Synthesis Report and the COP30 Presidency’s response.
- For companies not on the ground in Belém, what are the most reliable ways to stay informed and engaged in what’s happening at the conference?
Stay tuned to the UNGC LinkedIn page, our delegation will do our best to share what is happening on the ground. Also, be sure to keep an eye out for the debrief sessions that are organized after the conference.
Additionally, the UNFCCC’s live updates page is a good source of information to know what is being discussed and what has just been decided.
