BRICS Nations Oppose Carbon Border Tax in New Delhi Declaration

BRICS countries issued a declaration in New Delhi stating that fossil fuels will continue to play an important role in energy security, which they described as a crucial foundation for social and economic development. The member nations explicitly opposed unilateral trade restrictive measures, specifically citing the European Union's Carbon Border Adjustment Mechanism (CBAM). The declaration characterized such carbon border taxes as punitive, discriminatory, and protectionist measures that are not in line with international law. The group expressed concern that these mechanisms undermine the efforts of developing economies to address climate change and increase adaptive capacity.

The declaration reaffirmed the commitment of BRICS nations to the goals of the Paris Agreement, emphasizing the principle of common but differentiated responsibilities. The group called for coordinated international action to enhance debt sustainability and expand fiscal space for developing countries facing high debt burdens. Additionally, the member countries welcomed the BRICS Guidelines for Disaster Management Early Warning Data Integration and the BRICS Voluntary Principles for Climate Resilient Urban Infrastructure, while acknowledging the role of the Coalition for Disaster Resilient Infrastructure (CDRI).

To ensure energy security amidst global volatility, the declaration called for energy market stability and the protection of critical energy infrastructure. The group also noted the disproportionate burden of climate finance across different countries and highlighted a report on the role of central banks in optimizing sustainable and green finance.