Washington, July 27 (FN Agency) The United States and Brazil have launched a new climate initiative – the Brazil Fazenda-U.S. Treasury Climate Partnership – aimed at dealing with the outstanding environmental matters and boosting the region’s green economy, Treasury Secretary Janet Yellen said on Friday. “Minister Haddad, it was a pleasure meeting with you earlier this week, and I am very glad that we are jointly announcing the launch of the Brazil Fazenda-U.S. Treasury Climate Partnership today,” Yellen said. “With this partnership, we now plan to work together bilaterally and multilaterally to address today’s most pressing environmental challenges and strengthen the region’s green economy.” Yellen stated that the partnership’s efforts will concentrate on four key areas.
“First, we intend to work to bolster our clean energy supply chains, including by developing policy tools that crowd in private sector investment,” she said. “Second, we intend to support efforts to improve the integrity and effectiveness of voluntary carbon markets, including through holding technical exchanges.” Moreover, the two countries plan to mobilize finance and develop innovative solutions to save and restore nature and biodiversity. “And fourth, we are committed to joint work to facilitate countries’ ease of access to multilateral climate fund resources by working to simplify and harmonize process, increase ambition, and mobilize private finance,” she added. Yellen is currently in Rio de Janeiro where she is attending a G20 Finance Ministers and Central Bank Governors Meeting.