Brazil and China are in talks to create a fund to finance the development of green industry and renewable energy in both countries, two senior Brazilian officials told Reuters.
The proposal could be announced during the president’s visit Luiz Inacio Lula da Silva to Beijing next week, though Brazilian government officials said some details remained to be worked out.
“I don’t know if it will be possible to announce it, because these things are complex, but the idea is to have a bilateral fund (…) for investments in this area,” Lula’s top foreign policy adviser, Celso Amorim, told Reuters.
Amorim said that he expects an agreement on renewable energy during Lula’s visit, which includes a meeting with the Chinese president, Xi Jinpingon Tuesday.
Brazilian Environment Minister Marina Silva, who will be part of Lula’s delegation, said the new fund under discussion would be used to recover forests and develop a more sustainable economy, including the production of green hydrogen.
“Our expectation is that we can have a climate change agenda that is strategic for the world, because it is undoubtedly one of humanity’s greatest challenges,” Silva told Reuters.
He added, however, that China It will not join the $1 billion Amazon Fund launched by Norway to finance sustainable development and protect the world’s largest rainforest, which Spain, France and the United Kingdom are considering joining and the United States has pledged to support.
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