U.S. and Brazil Forge New Climate Partnership

The U.S. and Brazilian governments announced a new climate partnership at a G20 finance leaders meeting, focusing on deepening ties through four key areas. These include easier access to climate funds, enhancing clean energy supply chains, improving carbon market integrity, and mobilizing finance for biodiversity conservation.

The U.S. and Brazilian governments unveiled a groundbreaking climate partnership agenda on Friday, aiming to strengthen collaboration on a crucial issue often marginalized by political opposition in both nations.

During the G20 finance leaders meeting in Rio de Janeiro, U.S. Treasury Secretary Janet Yellen emphasized 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.' Brazil's Finance Minister Fernando Haddad echoed these sentiments, stressing the urgency of transforming guidelines into actionable steps.

The partnership, involving the two largest economies in the Western Hemisphere, will target four core areas: facilitating easier access to multilateral climate funds, bolstering clean energy supply chains, enhancing the effectiveness of voluntary carbon markets, and mobilizing finance for nature and biodiversity conservation.

(With inputs from agencies.)