BRICS condemns EU carbon tax, urges higher climate finance for developing nations
Summary
- The BRICS bloc issued a statement denouncing the European Union's carbon border adjustment mechanism (CBAM) as a protectionist and WTO‑incompatible measure.
- BRICS called for a substantial increase in international funding to help developing countries adapt to and mitigate climate change.
- The statement emphasised the need for technology transfer, capacity building and equitable access to climate finance for vulnerable economies.
- BRICS members – Brazil, Russia, India, China and South Africa – highlighted that unilateral carbon taxes could distort global trade.
- The group urged multilateral forums, rather than unilateral tariffs, to address the climate finance gap.
Key Facts
- · BRICS comprises Brazil, Russia, India, China and South Africa.
- · The EU's carbon border adjustment mechanism targets imports from high‑carbon sectors.
- · BRICS labelled the EU measure as protectionist and contrary to WTO rules.
- · The bloc demanded a significant boost in climate finance for developing nations.
- · Technology transfer and capacity building were cited as essential components of climate support.
Why it matters
The condemnation reflects growing tensions between emerging economies and the EU over climate policy, highlighting the intersection of trade, finance and environmental negotiations. Understanding this dispute is crucial for analysing future international climate agreements and the balance of economic interests in global governance.
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