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

BELEM, Brazil - Despite the U.S. government's retreat from the global climate agenda ahead of the COP30 summit, American companies have not stepped back on this issue. A Reuters analysis shows that 60 representatives from Fortune 100 companies attended the event in Brazil, up from 50 at last year's event in Baku, Azerbaijan. Additionally, there were other representatives who participated in pre-conference events in Brazil's financial hub 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 did not see a noticeable change in U.S. companies' engagement in climate policies this year. This is also reflected in participation levels."

Executives noted that it is not the right time to withdraw from climate discussions given the rising temperatures that threaten factories, supply chains, and profit margins. PepsiCo Sustainability Manager Jim Andrew explained, "We're doing this because it's good for business. It enhances supply chain security."

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

An analysis by the Global Sustainability Center at the University of Maryland revealed that existing federal and local policies could lead to a 35% reduction in U.S. emissions by 2035, with a significant portion coming from companies. Gina McCarthy, former head of the U.S. Environmental Protection Agency and currently co-chair of the 'America Is All In' coalition, said, "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 aiming to profit from the world's transition to low-carbon energy. Brennan Spellacy, CEO of carbon credit platform Patch, stated, "Being here is about making global connections."

U.S. President Donald Trump characterized climate change as a hoax. However, despite the federal position, regulations are changing globally to accelerate the energy transition. Jack Hurd, leader of the World Economic Forum’s Global System Agenda and Tropical Forest Alliance, said, "Regardless of the rhetoric from the U.S., the market is moving and policymakers are recognizing the shift."

More U.S. companies are disclosing their climate strategies, despite the reduced necessity of a federal rule. However, the quality of companies' plans at a global level remains low. Maria Mendiluce, CEO of the We Mean Business Coalition, noted, "The U.S. has a decisive role in global climate, energy, and industrial policy, so the presence of subnational leaders, non-state actors, and businesses at COP30 is important. Even amid uncertainty in local politics, U.S. markets shape capital flows and technological pathways. This kind of engagement shows investors that the world’s largest economy understands the importance of the energy transition in terms of competitiveness, innovation, and security."