What happened?
At the BRICS Summit in Rio de Janeiro, member nations urged developed countries to shoulder the responsibility for climate finance. The joint statement criticised carbon border taxes and anti-deforestation laws as protectionist and backed Brazil’s proposed Tropical Forests Forever Facility. China and UAE have expressed interest in contributing to this fund.
Why it matters to India
India’s alignment with the BRICS position reinforces its Global South leadership in climate diplomacy. With upcoming COP-30 in Brazil, New Delhi is pushing for equitable climate responsibilities. The support for Brazil’s forest initiative offers a pathway for South-South cooperation. India’s stance against protectionist environmental policies also reflects its trade interests and broader strategic positioning in multilateral negotiations.