U.S. and Brazil Announce Climate Partnership Agenda
By David Lawder and Marcela Ayres
RIO DE JANEIRO (Reuters) – The U.S. and Brazilian governments announced a climate partnership agenda on Friday, seeking to deepen ties on an issue they see as key but which has been treated as secondary by opposition in both countries.
Speaking on the sidelines of a G20 finance leaders meeting in Rio de Janeiro, U.S. Treasury Secretary Janet Yellen stated that “advancing work on climate and on nature and biodiversity can bring benefits not only to both of our economies but also to the region and to the global economy.”
“We want to be closer,” said Brazil’s Finance Minister Fernando Haddad, who added that he expects these guidelines to turn into concrete actions very quickly.
The joint work between the U.S. and Brazil—the two largest economies in the Western Hemisphere—will focus on four key areas. This includes efforts to facilitate countries’ ease of access to multilateral climate fund resources, which is a priority for Brazil during its G20 presidency this year.
Yellen also mentioned that pillars of this agenda will aim to bolster clean energy supply chains and improve the integrity and effectiveness of voluntary carbon markets.
Additionally, efforts to mobilize finance and develop innovative solutions to conserve and restore nature and biodiversity, including through multilateral development banks, are also on the agenda.
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