Treasury Secretary Janet Yellen speaks at a Senate Appropriations Committee hearing on Financial Services and General Government on June 4. The secretary also announced a climate partnership with Brazil on Friday. Photo by Ken Cedeno/UPI
July 26 (UPI) — The Ministry of Finance and Brazil’s Ministry of Finance announced a partnership on Friday to align the best environmental and climate policies.
Officials from the Ministry of Finance and Brazilian ministries (called fazendas) Started working We will work together to tackle climate change and economic development in 2023.
advertisement
The Brazil Fazenda-U.S. Treasury Climate Partnership will help foster public-private engagement between the two countries on climate jobs and environmental policies.
“Brazil and the United States have deep economic ties through trade and investment and share a commitment to sustainable and inclusive development,” the Treasury Department said in a statement. “We both recognize that climate and development are inextricably linked and, if properly designed, can be mutually reinforcing and act as a catalyst for economic growth.”
Treasury Secretary Janet Yellen said the United States and Brazil have deep ties, from trade to investment, and that the two largest economies in the Western Hemisphere can make progress on climate change.
“Today’s announcement builds on the tremendous work of the Treasury and Fazenda teams in recent years,” Yellen said. It said in a statement“Since the Biden Administration took office, we have sought to strengthen cooperation with Brazil on our shared climate and environmental priorities.”
Yellen said recent floods in the southern Brazilian state of Rio Grande do Sul in April were just the latest example of the impacts of climate change and the need for resilient infrastructure to save lives.
“This is one of too many recent tragedies that highlight the grave threats that climate change and the loss of nature and biodiversity pose to lives, livelihoods and economies around the world,” Yellen said.
