Overview
- BRICS leaders adopted a Framework Declaration on July 7–8 formally condemning the EU’s Carbon Border Adjustment Mechanism as a unilateral, punitive trade barrier that hinders developing economies’ clean-energy transitions.
- The declaration asserts the levy violates Article 3(5) of the UN Framework Convention on Climate Change by imposing arbitrary discrimination and disguised restrictions on international trade.
- BRICS demanded that wealthy nations meet their UNFCCC and Paris Agreement commitment to provide at least US$100 billion annually in climate finance through 2025 and scale support to US$300 billion per year by 2035.
- The group called for adaptation funding to double from 2019 levels by 2025 and stressed that finance must be primarily concessional, grant-based and directly accessible to local communities.
- Leaders urged developed countries to close pre-2020 mitigation gaps, strengthen 2030 emissions targets and pursue net-zero emissions well before 2050 to ensure an equitable global transition.