US and Brazil agree on ambitious climate change agenda

WASHINGTON: Ahead of the key Paris climate change summit this year, the US and Brazil today agreed on an ambitious agenda to mitigate the challenges posed by climate change, as they underlined the need for a deal that reflects the principle of common but differentiated responsibilities.

In a joint statement, President Barack Obama and his Brazilian counterpart Dilma Rousseff said the Paris outcome should send a strong signal to the international community that governments, businesses and civil society are decisively taking on the climate challenge.

The two presidents said they are committed to reaching an ambitious agreement, during the summit to be held in December, that reflects the principle of common but differentiated responsibilities and respective capabilities, in light of different national circumstances.

Rousseff is on a two-day visit to the US. The two leaders pledged to work together toward mobilising public funding and developing financial instruments to catalyse large-scale private investments to support low carbon development projects and countries' transitions to low-carbon economies.

While America is the second biggest emitter of Carbon dioxide Brazil is the 13th position.

Both countries are respectively putting forward strong post-2020 contributions consistent with their determination to show global leadership.

The US intends to achieve an economy-wide target of reducing its emissions by 26 per cent-28 per cent below 2005 levels in 2025 and to make best efforts to reduce its emissions by 28 per cent, the statement said.

"Brazil will present a fair and ambitious intended nationally determined contribution that represents its highest possible effort beyond its current actions," the statement said adding that it will be based on the implementation of broad policies, including those in the forestry, land-use, industrial, and energy sectors.

Noting that Brazil will pursue policies aimed at eliminating illegal deforestation, coupled with ambitious enhancement of carbon stocks through reforestation and forest restoration, the statement said for that purpose, Brazil intends to restore and reforest 12 million hectares of forests by 2030.