Latest news with #TatianaRosito
The Star
3 days ago
- Business
- The Star
Brics approves climate finance framework, crafting joint stance for first time
The Brics economic bloc approved its first joint climate finance framework on Thursday, the group's most coordinated effort to date on funding climate action and setting the stage for a shared position – a first for the group – ahead of Cop30 in Brazil. The nonbinding framework – agreed during a high-level meeting on climate change and sustainable development – outlines Brics priorities including the reform of multilateral development banks, the scaling up of concessional finance and the mobilising of private capital to support climate efforts in the Global South. The document will be submitted to Brics heads of state at their July meeting. Cop30, the 30th session of the Conference of the Parties, the latest United Nations climate change summit, is scheduled for November in Belem, Brazil. 'For the first time, there will be a document that guides a common and collective Brics action in the area of climate finance – involving, for example, reforms of multilateral banks, more concessional finance, and also the mobilisation of private capital and regulatory matters to ensure that flows can reach developing countries,' said Tatiana Rosito, the international affairs secretary at Brazil's finance ministry. In a statement, the Brazilian presidency said that the bloc's latest climate effort reflected a shift from defensive posturing to proactive coordination in international negotiations. Although this marks Brics' first formal initiative as a negotiations bloc on climate finance, its core members – Brazil, Russia, India, China and South Africa – have coordinated informally for years. Their climate diplomacy began through what was originally called the Basic group, which has worked jointly since the 1990s to defend the principle of 'common but differentiated responsibilities' in global negotiations. Brics' climate ambitions intensified with the 2024 Kazan Declaration, which analysts described as the farthest-reaching statement the bloc has yet produced. It placed the Paris Agreement at the centre of its strategy, rejected unilateral trade measures taken under the guise of environmental policy, and linked sustainability to development and equity. 'The framework declaration on climate finance was approved at the vice-ministerial level and will be taken to the heads of state,' said Liliam Chagas, director of climate at Brazil's Ministry of Foreign Affairs. 'Brics bringing its perspective as major developing countries of the Global South is very important and will help us with outcomes by the end of the year.' The framework feeds into Brazil's flagship goal for Cop30, called 'Road Map Baku-Belem', which aims to mobilise US$1.3 trillion in climate finance for developing countries by 2035. While the Brics document will not be part of formal talks under the UN climate process, officials say it could help build consensus and overcome deadlocks. 'Financing is one of the central issues – at Cop29 and again for Cop30 – especially in the shape of the Road Map Baku-Belem,' Rosito said. 'Even if it is not a negotiation document, it can very well help to unlock negotiations and push climate action forward.' Among the proposals is Brazil's planned Tropical Forests Forever Fund, a financing mechanism developed during its Group of 20 presidency and expected to launch at Cop30. It aims to attract private investment into forest conservation, offering returns instead of requesting direct contributions. 'This is an initiative that fits well as an innovative mechanism for private capital mobilisation,' Rosito said. 'With the financial model being designed, [we] could leverage resources four to five times over ... and the countries that conserve their forests would receive funds for not deforesting.' Beyond financing, the Brics meeting produced agreements to facilitate the use of climate-related patents, establish a joint platform for research and development and create a new Brics laboratory to assess how climate policies abroad might affect member economies. 'These countries will have a space to understand the impact of trade measures that might affect their exports,' Chagas said. She added that a separate agreement on carbon accounting would let Brics countries better track emissions linked to specific goods and industries, helping them evaluate how environmental standards might influence trade flows, import-export dynamics and broader economic activity.
South China Morning Post
5 days ago
- Business
- South China Morning Post
Brics approves climate finance framework, crafting a joint position for the first time
The Brics economic bloc approved its first joint climate finance framework on Thursday, the group's most coordinated effort to date on funding climate action and setting the stage for a shared position – a first for the group – ahead of Cop30 in Brazil. The nonbinding framework – agreed during a high-level meeting on climate change and sustainable development – outlines Brics priorities including the reform of multilateral development banks, the scaling up of concessional finance and the mobilising of private capital to support climate efforts in the Global South. The document will be submitted to Brics heads of state at their July meeting. Cop30, the 30th session of the Conference of the Parties, the latest United Nations climate change summit, is scheduled for November in Belem, Brazil. 'For the first time, there will be a document that guides a common and collective Brics action in the area of climate finance – involving, for example, reforms of multilateral banks, more concessional finance, and also the mobilisation of private capital and regulatory matters to ensure that flows can reach developing countries,' said Tatiana Rosito, the international affairs secretary at Brazil's finance ministry. In a statement, the Brazilian presidency said that the bloc's latest climate effort reflected a shift from defensive posturing to proactive coordination in international negotiations. Although this marks Brics' first formal initiative as a negotiations bloc on climate finance, its core members – Brazil, Russia, India, China and South Africa – have coordinated informally for years.
Gulf Today
07-05-2025
- Business
- Gulf Today
UAE organises BRICS meet on public-private partnerships
The UAE, represented by the Ministry of Finance, has hosted the first-ever BRICS event in the country, the BRICS Finance Track Working Group Taskforce on public-private partnership and Infrastructure (TFPPPI). The meeting, held from 5th to 6th May in Abu Dhabi, brought together senior government officials, international experts, representatives of global financial institutions, and private sector leaders. As part of the meeting, the Ministry of Finance organised a high-level seminar titled 'A New Era of Growth: Reimagining Infrastructure Financing in BRICS Countries', exploring ways to develop innovative mechanisms for financing infrastructure projects and expand public-private partnerships. In addition, the visiting delegation toured Masdar City, where participants were briefed on leading public-private partnership projects in the UAE across various sectors, including energy, sustainability, and transport, showcasing the country's commitment to implementing effective and innovative solutions in infrastructure development and financing. The event was attended by Younis Haji AlKhoori, Undersecretary of the Ministry of Finance; Antonio Freitas, Undersecretary for International Affairs, Brazil Ministry of Finance; Ambassador Tatiana Rosito, Secretary for International Affairs at the Brazilian Ministry of Finance; and Sidney Leon Romero, Brazilian Ambassador to the UAE. Younis Haji AlKhoori emphasised that hosting this high-profile event along with its accompanying seminar showcases the UAE's growing role as a trusted partner in shaping the future of global economic cooperation and redefining infrastructure financing in collaboration with the private sector, ensuring alignment with both sustainable development priorities and the dynamic requirements of tomorrow's economy. He said, 'Strengthening partnerships between the public and private sectors is a top priority for the UAE's vision, aimed at promoting sustainable growth. We are committed to adopting flexible and innovative financing models that not only facilitate the implementation of strategic projects in key sectors such as education, healthcare, clean energy, and transportation but also ensure that these investments yield both financial returns and lasting societal and environmental benefits.' He concluded by saying, 'Through these meetings, we look forward to establishing a sustainable platform for exchanging expertise between BRICS countries and their partner nations while strengthening the role of the private sector in driving economic transformation. This is especially crucial in light of growing global challenges that demand broader international coordination and more comprehensive and innovative financing strategies.' For her part, Ambassador Tatiana Rosito said, 'On behalf of the Brazilian Presidency of BRICS, I would like to extend my heartfelt thanks to all those who participated in this seminar. I would also like to reiterate our deep appreciation for the vital support and constructive partnership extended by the Government of the United Arab Emirates. I am confident that this seminar will further strengthen our cooperation and enable us to advance our shared goal of financing high-quality and impactful infrastructure projects across our countries. This Task Force meeting on Public-Private Partnerships and infrastructure holds symbolic significance, reflecting our collective aspiration to deepen ties among BRICS nations. Beyond the exchange of knowledge, its true value lies in fostering stronger bilateral and multilateral relations, and in identifying new opportunities for collaboration among all our countries.' Ahmed Baghoum, Chief Executive Officer of Masdar City, noted, 'The visit by the BRICS delegation to Masdar City is a testament to our growing global reputation as a leading hub for developing sustainable and innovative development projects through the public-private partnership (PPP) model. We were honoured to highlight several of our flagship initiatives, including the regional headquarters of Siemens Energy, the headquarters of the International Renewable Energy Agency (IRENA), and the Mohamed bin Zayed University of Artificial Intelligence. We also briefed the guests on the Masdar City Free Zone, which hosts over 1,500 companies operating in clean tech, AI, and renewable energy. More than just milestones in urban development, these projects reflect the UAE's commitment to embracing advanced solutions in financing and delivering infrastructure projects. At Masdar City, we firmly believe that global cooperation .is key to accelerating sustainable development and achieving a balance between economic viability and social impact.' The seminar featured a series of dialogue sessions that addressed key challenges and opportunities in the field of infrastructure project financing, highlighting BRICS countries' experiences and global best practices. The sessions covered a wide range of topics, including innovative financing models for social infrastructure projects such as housing, healthcare, and education. The event brought together senior government officials, international experts, representatives of global financial institutions, and private sector leaders.
Al Etihad
07-05-2025
- Business
- Al Etihad
UAE hosts BRICS Finance Track Meeting on Public-Private Partnerships and Infrastructure
7 May 2025 15:02 ABU DHABI (WAM)The UAE, represented by the Ministry of Finance (MoF), has hosted the first-ever BRICS event in the country, the BRICS Finance Track Working Group Taskforce on Public-Private Partnership and Infrastructure (TFPPPI).The meeting, held from May 5-6 in Abu Dhabi, brought together senior government officials, international experts, representatives of global financial institutions, and private sector part of the meeting, the Ministry of Finance organised a high-level seminar titled "A New Era of Growth: Reimagining Infrastructure Financing in BRICS Countries", exploring ways to develop innovative mechanisms for financing infrastructure projects and expand public-private addition, the visiting delegation toured Masdar City, where participants were briefed on leading public-private partnership projects in the UAE across various sectors, including energy, sustainability, and transport, showcasing the country's commitment to implementing effective and innovative solutions in infrastructure development and event was attended by Younis Haji AlKhoori, Undersecretary of the Ministry of Finance; Antonio Freitas, Undersecretary for International Affairs, Brazil Ministry of Finance; Ambassador Tatiana Rosito, Secretary for International Affairs at the Brazilian Ministry of Finance; and Sidney Leon Romero, Brazilian Ambassador to the Haji AlKhoori emphasised that hosting this high-profile event along with its accompanying seminar showcases the UAE's growing role as a trusted partner in shaping the future of global economic cooperation and redefining infrastructure financing in collaboration with the private sector, ensuring alignment with both sustainable development priorities and the dynamic requirements of tomorrow's said, 'Strengthening partnerships between the public and private sectors is a top priority for the UAE's vision, aimed at promoting sustainable growth. We are committed to adopting flexible and innovative financing models that not only facilitate the implementation of strategic projects in key sectors such as education, healthcare, clean energy, and transportation but also ensure that these investments yield both financial returns and lasting societal and environmental benefits.'He concluded by saying, 'Through these meetings, we look forward to establishing a sustainable platform for exchanging expertise between BRICS countries and their partner nations while strengthening the role of the private sector in driving economic transformation. This is especially crucial in light of growing global challenges that demand broader international coordination and more comprehensive and innovative financing strategies.'For her part, Ambassador Tatiana Rosito said, "On behalf of the Brazilian Presidency of BRICS, I would like to extend my heartfelt thanks to all those who participated in this seminar. I would also like to reiterate our deep appreciation for the vital support and constructive partnership extended by the Government of the United Arab Emirates. I am confident that this seminar will further strengthen our cooperation and enable us to advance our shared goal of financing high-quality and impactful infrastructure projects across our Task Force meeting on Public-Private Partnerships and infrastructure holds symbolic significance, reflecting our collective aspiration to deepen ties among BRICS nations. Beyond the exchange of knowledge, its true value lies in fostering stronger bilateral and multilateral relations, and in identifying new opportunities for collaboration among all our countries."Ahmed Baghoum, Chief Executive Officer of Masdar City, noted, 'The visit by the BRICS delegation to Masdar City is a testament to our growing global reputation as a leading hub for developing sustainable and innovative development projects through the public-private partnership (PPP) were honoured to highlight several of our flagship initiatives, including the regional headquarters of Siemens Energy, the headquarters of the International Renewable Energy Agency (IRENA), and the Mohamed bin Zayed University of Artificial Intelligence. We also briefed the guests on the Masdar City Free Zone, which hosts over 1,500 companies operating in clean tech, AI, and renewable than just milestones in urban development, these projects reflect the UAE's commitment to embracing advanced solutions in financing and delivering infrastructure projects. At Masdar City, we firmly believe that global cooperation is key to accelerating sustainable development and achieving a balance between economic viability and social impact.'The seminar featured a series of dialogue sessions that addressed key challenges and opportunities in the field of infrastructure project financing, highlighting BRICS countries' experiences and global best sessions covered a wide range of topics, including innovative financing models for social infrastructure projects such as housing, healthcare, and seminar also touched on blended finance for climate-resilient infrastructure, with discussions also highlighting best practices in project structuring and preparation, investment challenges, alternatives to mitigate risks and the role of insurers. The second day was dedicated to in-depth discussions on government and industry perspectives: policy and implementation challenges, in addition to exploring the future of PPPs and infrastructure investment in light of evolving economic and technological landscapes.
South China Morning Post
25-04-2025
- Business
- South China Morning Post
Brics countries eye multilateral mechanism to help global economy: Brazilian official
Brics member countries have begun exploratory discussions on creating a multilateral investment guarantee mechanism, a senior Brazilian official told the Post, a move aimed at deepening the bloc's role in helping to stabilise the global economy. Advertisement Brazil's secretary for international affairs in its finance ministry, Tatiana Rosito, said the talks took place after a Brics meeting on the sidelines of the International Monetary Fund and World Bank spring meetings in Washington. The proposed mechanism would be modelled on the World Bank's Multilateral Investment Guarantee Agency, or Miga, which helps developing countries lure foreign direct investment by offering political risk insurance and credit guarantees. Miga covers risks such as expropriation, currency inconvertibility, contract breaches and conflict-related disruptions. Established in 1988, the agency has helped de-risk infrastructure and energy projects in some of the world's most volatile environments. Tatiana Rosito, Brazil's secretary for international affairs in its finance ministry, attends an International Monetary Fund meeting in Washington on Thursday. Photo: Handout If created, a Brics version of Miga could be added to the group's financial toolkit alongside its Contingent Reserve Arrangement, signed in 2014 and in operation since 2016.
