Brazil and US

At the G20 Finance Track meeting in Rio de Janeiro, the U.S. and Brazil signed a landmark climate partnership aimed at enhancing collaboration on climate issues, with a focus on four key areas: access to multilateral climate funds, clean energy supply chains, voluntary carbon market improvements, and financing for nature conservation. U.S. Treasury Secretary Janet Yellen and Brazilian Finance Minister Fernando Haddad emphasized the importance of this partnership amidst geopolitical tensions, highlighting shared values and a commitment to sustainable development. Additionally, Brazil is championing the establishment of a Tropical Forest Finance Facility to support nations with tropical forests, aiming for an initial $25 billion investment and potential penalties for deforestation. Brazil also endorsed the UAE’s Global Climate Finance Framework to stimulate climate action investment, showcasing its leadership in global climate discussions as it prepares to host COP30 in 2025. These initiatives reflect a broader strategy to mobilize financial resources and implement innovative solutions for climate challenges, aligning with the ambitious goals of both countries.