Lula at G7: Belém will test global leaders’ commitment to the future

Brazil’s President Luiz Inácio Lula da Silva took advantage of his participation in the expanded session of the G7 Summit on Tuesday, June 17, in Canada, to invite the leaders present at the meeting to attend the 30th United Nations Climate Change Conference (COP30). The event will take place in Belém, in the state of Pará, in November this year.

Indebted countries do not have the means to transform their energy grids. Instruments such as swapping debt for development, and the issuance of special drawing rights can mobilize valuable funds.” 
LUIZ INÁCIO LULA DA SILVA
Presidente de la República

"I count on the participation of all those present at COP30, in the heart of the Amazon. Belém will be a test for global leaders to show the seriousness of their commitment to the future of people and the planet," Lula said. One of the authorities who has already confirmed his presence at the Conference is the Prime Minister of Canada, Mark Carney.

In Belém, the Brazilian government plans to launch the Tropical Forests Forever Fund, which will offer developing countries that still harbor rainforests due compensation for the ecosystem services they offer the planet. "We are developing a tool that will allow us to protect these biomes through positive incentives, without resorting to punitive measures," said the president in reference to the initiative to be launched at COP30.

Lula reiterated the importance of countries setting ambitious goals to prevent global warming from surpassing 1.5 degrees. Brazil’s goal is to reduce its greenhouse gas emissions between 59% and 67% by 2035 across all economic sectors.

FINANCING — Considering that an inclusive energy transition requires a great deal of funding, the Brazilian leader expressed concern about the shortage of financing. "Deliberate cuts and setbacks have been made worse by unfulfilled promises. The Kyoto Protocol was a symbol of our collective failure. The yearly hundred billion dollars pledged at Copenhagen's COP15 have never been fulfilled. In 2024, rich countries reduced their Official Development Aid by 7.1%. Last year, we left the Baku COP with disappointing results. The Brazilian presidency of COP30 and Azerbaijan are working to reverse this situation through the Baku-Belém roadmap," said Lula.

COOPERATION — During the expanded session of the G7 Summit, Lula also emphasized that international tax cooperation is necessary to reduce inequalities, pointing out that taxing 2% on the assets of the super-rich could generate 250 billion dollars a year to face current social and environmental challenges.

"G7 members hold more than 40% of the voting power in the World Bank and the IMF. Making these institutions more representative is crucial to bring them closer to the needs of the Global South. Indebted countries do not have the means to transform their energy matrices. Instruments such as the exchange of debt for development and the issuance of special drawing rights can mobilize valuable funds," Lula said. He also defended the debureaucratization of access to climate funds, as well as the promotion of innovative mechanisms.

ABOUT THE GROUP — The G7 was created in 1975, on the initiative of French President Valéry Giscard d'Estaing, to gather the world's most industrialized countries at the time around common interest economic policy issues. The group celebrates its 50th anniversary in 2025. Currently, member countries are Germany, Canada, the United States, France, Italy, Japan and the United Kingdom, as well as the European Union.