American Companies Did Not Remain Indifferent to the Climate Crisis at COP30.

BELEM, Brazil - Despite the U.S. government's distancing from the global climate agenda ahead of the COP30 summit, American companies have not taken a step back on this issue. A Reuters analysis shows that 60 representatives from Fortune 100 companies attended the event in Brazil, compared to 50 at last year's event in Baku, Azerbaijan. Additionally, there were other representatives participating in pre-conference events in Brazil's financial hubs of Sao Paulo and Rio de Janeiro.

Major names at the event included technology firms like Microsoft and Google, energy company Occidental Petroleum, automobile manufacturer General Motors, and financial institution Citigroup. Andrew Wilson, deputy policy director of the International Chamber of Commerce, stated, "We haven't seen a noticeable change in the participation of U.S. companies in climate policies this year. This is reflected in the levels of participation."

Executives noted that it is not the right time to shy away from climate discussions, as rising temperatures pose threats to factories, supply chains, and profit margins. PepsiCo Sustainability Director Jim Andrew explained, "We do this because it's good for business. It enhances supply security."

Darren Woods, CEO of the largest U.S. oil company ExxonMobil, was among other U.S. executives attending pre-COP events. Lou Leonard, dean of Clark University's School of Climate, Environment and Society, emphasized that these participants have significant roles in the future of climate action.

An analysis by the Global Sustainability Center at the University of Maryland found that current federal and local policies could lead to a 35% reduction in U.S. emissions by 2035, largely driven by companies. Gina McCarthy, former head of the U.S. Environmental Protection Agency and now co-chair of the 'America Is All In' coalition, stated, "Regardless of the headlines, the private sector continues to invest in and implement clean energy."

The two-week COP30 conference also hosts many small U.S. companies poised to benefit from the world's transition to low-carbon energy. Brennan Spellacy, CEO of the carbon credit platform Patch, said, "Being here is about making global connections."

U.S. President Donald Trump had labeled climate change a hoax. However, despite the federal stance, regulations are changing globally to accelerate the energy transition. Jack Hurd, leader of the World Economic Forum's Global Systems Agenda and the Tropical Forest Alliance, noted, "Regardless of the rhetoric coming from the U.S., the market is moving, and policymakers are recognizing the shift."

More U.S. companies are disclosing their climate strategies despite a reduced necessity for federal rules. However, the quality of companies' plans on a global scale remains low. Maria Mendiluce, CEO of the We Mean Business Coalition, stated, "The U.S. plays a decisive role in global climate, energy, and industrial policy, so the presence of subnational leaders, non-state actors, and businesses at COP30 matters. Despite uncertainty in local politics, U.S. markets shape capital flows and technological pathways. This type of participation shows investors that the world's largest economy understands the importance of the energy transition in terms of competitiveness, innovation, and security."