BRICS Urges Wealthy Nations to Fund Global Climate Transition Amid Tariff Threats

The BRICS nations—Brazil, Russia, India, China, and South Africa—have jointly demanded that wealthy, developed countries fulfill their financial obligations to support climate action and energy transitions in poorer, developing nations. They emphasized that accessible, timely, and affordable climate finance is critical for enabling just energy transitions that align with sustainable development goals, underscoring that such support is a responsibility of developed countries under international agreements like the Paris Agreement. BRICS acknowledged that fossil fuels will remain a significant part of the global energy mix, especially for emerging economies, and called for multilateral, balanced approaches to climate solutions while opposing measures they view as discriminatory, such as carbon border taxes and European deforestation laws. The group also expressed support for Brazil's Tropical Forests Forever Facility, intended to protect endangered forests and finance climate efforts beyond existing commitments, with China and the UAE showing interest in contributing. Brazilian President Luiz Inácio Lula da Silva highlighted the importance of the Global South in global climate efforts, especially as Brazil prepares to host the upcoming UN climate summit. In response to BRICS' stance, President Donald Trump announced a 10% tariff on BRICS countries and any nations that engage with them, accusing them of anti-American policies.