Brazilian government allocates US$2 billion to combat climate change

Brazil's Ministry of Environment and Climate Change has allocated 10 billion reais (US$2 billion) to the National Climate Change Fund. This is reported by Brasil 247, a partner of TV BRICS. The funds will be used for sustainable projects, the publication said.

Established in 2009, the National Climate Change Foundation seeks to fund research, businesses and projects aimed at reducing greenhouse gas emissions and adapting to the effects of climate change.

In early March, Brazil called on the World Trade Organisation (WTO) to address trade liberalisation and the transfer of critical technologies to developing countries to mitigate climate change and the energy transition.

Earlier, the country celebrated a landmark achievement with 92,4 per cent of the country's electricity being generated from renewable sources.