Joint Statement by the United Kingdom and the Federative Republic of Brazil.
The Prime Minister of the United Kingdom, Sir Keir Starmer, and the President of Brazil, Luiz Inácio Lula da Silva, met in the margins of the G20 Leaders’ Summit in Rio de Janeiro to discuss the UK-Brazil relationship and to announce new areas of cooperation.
They jointly announced UK-Brazil Clean Energy Finance Mission to launch the Global Clean Power Alliance (GCPA), which aims to accelerate the global clean power transition, building on Brazil’s priorities for the G20 and COP30, including on energy planning and climate goals. The vision for the GCPA is to unite a group of developed and developing countries, and other international partners, with high clean energy ambitions.
The Prime Minister and the President celebrated the strength of the trading relationship between the UK and Brazil. Bilateral trade is at an all-time high – £11.2 billion in the last 12 months. The leaders restated their commitment to work together to continue to grow the trading relationship, boosting growth in both countries.
The UK and Brazil are pleased to announce that in addition to Brazil having all current ESG sovereign bonds listed on the London Stock Exchange, Brazil intends to list all future issuances as well, making London the primary home for all future global issuances.
We look forward to this partnership developing as Brazil looks to list all its future bonds in London. These bonds will support Brazil’s development and ecological transition.
The Prime Minister and the President also discussed workers’ rights, a clear shared priority for the two governments. They particularly highlighted the importance of fair employment to the green transition and committed to cooperate more closely on this in the future.
The leaders also committed to sustain the progress of Brazil’s G20 Presidency towards eradicating hunger and poverty worldwide, as founding members of the Global Alliance Against Hunger and Poverty.
They also discussed the importance of working towards a reinvigorated and strengthened multilateral system, rooted in the purposes and principles of the UN Charter and international law, with renewed institutions and a reformed governance that is more representative, effective, transparent and accountable, reflecting the social, economic and political realities of the 21st century.
The leaders expressed enthusiasm for strengthening bilateral relations and anticipated the Strategic Partnership that the UK and Brazil’s Foreign Ministers will establish in early 2025. This partnership is part of the celebrations marking 200 years of diplomatic ties between the two nations.
Sources: THX News, Prime Minister’s Office, 10 Downing Street & The Rt Hon Sir Keir Starmer KCB KC MP.
