The UK is the third biggest contributor of climate finance to Brazil, with more than £400 million committed. The UK’s contribution supports initiatives under the Green and Inclusive Growth partnership to help Brazil’s economic transition to net zero, reduce deforestation rates and support Brazil’s ambition to develop a bioeconomy which values standing forest and supports local communities’ livelihoods. At COP 28 the UK signed a legal agreement with the Amazon Fund and an initial disbursement is planned for 2024.