UK, Brazil announce major clean energy, trade partnerships at G20 summit

By Aysu Bicer

LONDON (AA) – British Prime Minister Keir Starmer and Brazilian President Luiz Inacio Lula da Silva met on the sidelines of the G20 Leaders’ Summit in Rio de Janeiro, announcing transformative agreements to strengthen bilateral ties and address global challenges.

In a landmark move, the leaders unveiled the UK-Brazil Clean Energy Finance Mission to launch the Global Clean Power Alliance (GCPA).

According to a joint statement by two countries on Wednesday, this initiative aims to accelerate the global shift to clean energy by uniting developed and developing nations with high clean energy ambitions.

The meeting celebrated an all-time high in bilateral trade, which reached £11.2 billion (approximately $14.2 billion) over the past year.

Both leaders reaffirmed their commitment to further developing this relationship.

A significant step in this direction was Brazil’s announcement that all future ESG sovereign bonds will be listed on the London Stock Exchange, solidifying London as the primary hub for Brazil’s global issuances.

These bonds are set to play a crucial role in supporting Brazil’s ecological transition and sustainable development.

The leaders highlighted their shared dedication to workers’ rights, emphasizing fair employment practices as essential to a successful green transition.

They pledged to collaborate more closely on labor rights in the future, ensuring that the global push for sustainability benefits workers in both countries.