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Brazil’s road to COP 30

The role of the private sector

Luciana Nicola, Sustainability Director, Itaú Unibanco

COP 30 will take place in Belém, Pará, at the end of 2025. It will be the first time the conference has been held in
the Amazon Rainforest and has been informally dubbed the "COP of the Forests". The choice of Brazil as host was a
remarkable diplomatic achievement for the country and for its ambition to lead on the climate agenda. The challenge
is daunting and will require strong articulation from both the public and private sectors to demonstrate the country has
done its homework.

Tens of thousands of people, including scientists, Brazil’s NDC was set in 2016, and in the almost 10 years
diplomats, world leaders, CEOs, civil society since the signing of the Paris Agreement, Brazil and the
representatives and activists, will be in the capital city world have experienced several lessons that must be
of Pará, a promising venue to link the global climate reflected in the new NDC, which must take into account the
discussion to issues of interest to the country, such as land specificities of the different sectors of our economy.
use change, biodiversity and low-carbon agriculture.
We need to demonstrate and leverage our strengths,
By COP 30, Parties will be faced with the challenge of such as the renewable energy grid, the wide availability of
revising their Nationally Determined Contributions (NDCs), nature-based solutions and the potential of low-carbon
in order to limit the global temperature increase to 1.5°C. agriculture, while addressing challenges such as curbing
The new NDCs are expected to be more ambitious, but illegal deforestation, regularising rural property through
more importantly, feasible. the Rural Environmental Registry (CAR), regulating the

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