G20 applauds Brazil's proposal to facilitate access to climate change resources

G20 applauds Brazil’s proposal to facilitate access to climate change resources

The first meeting of the financial channel of the world’s main economies, the G20, concluded on Friday with the acceptance of Brazil’s proposal to facilitate access to international funds that finance measures against climate change, one of the central issues of the presidency of the country in the bloc.

The intention, said Tatiana Rosito, Secretary of International Affairs of the Ministry of Finance, is to allow the countries that need it most to have access to the funds..

“There was a massive response from G20 members to Brazil’s proposal to try to increase access, make it less bureaucratic and also increase resources,” said the ambassador, who coordinates the Brazilian part of the financial path.

“These funds usually have a backlog of resources, currently of about US$10 billion, which do not reach users, are very difficult to access and are important funds,” he added.

The four funds mentioned by Rosito are the Global Environment Facility (GEF), the Green Climate Fund (GCF), the Adaptation Fund and the Climate Investment Funds (CIF). All rely on resources from private donors and governments for mitigation, recovery and adaptation measures in developing countries to combat the effects of climate change.

Brazil’s proposal consists of reviewing the structure of these funds over the next year in order to devise measures that allow countries more simplified access to resources. According to Rosito, the 20 countries of the bloc have agreed that a review is necessary.

The Brazilian proposal is part of the country’s objectives for the year it will lead the G20.

Upon taking office, President Luiz Inácio Lula da Silva prioritized actions to reduce poverty and hunger, combat climate change and reform global governance institutions such as the International Monetary Fund (IMF), the World Bank and the United Nations. United.

There is also concern about achieving concrete results before November next year, when the summit of heads of state is held in Rio de Janeiro.

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