The Secretary of International Affairs of the Ministry of Finance and coordinator of the financial trail of the Brazilian presidency in the BRICS, Tatiana Rosito, said, that Brazilian management will not seek to expand the commitments of the 11 member countries with climate financing, but rather create consensus for an extra block performance that guarantee US $ 1.3 trillion of public and private funding on this front.

“We are not discussing expanding NDCs (nationally determined contributions), nor discussing voluntary contributions. What is under discussion (in BRICS) is to build convergences on the mobilization of public and private resources to reach US $ 1.3 trillion external, resources predominantly from developed, public or dealers,” said Rosito.

Climate funding appears as one of the six objectives of the group’s Brazilian management finance trail and inaugurates unusual discussion within the block. “We are looking for a bolder agenda, even because we are in the presidency of BRICS and COP 30,” he said.

According to Rosito, there are already converging positions within the block in this area, but the expansion of this will be important for negotiations that should happen within COP 30, which takes place in October in Belém.

She highlighted the discussion about the origin and resources and financial support to climate change-resilient infrastructure projects, which appears more prominently in the fourth goal of the trail, “advancing intra-bric dialogue and cooperation in PPPs, taxation and customs”.

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