RIO DE JANEIRO: On the final day of the 2025 BRICS Summit in Rio de Janeiro, leaders of Brazil, Russia, India, China, and South Africa demanded that wealthy nations take responsibility for financing climate change mitigation in developing countries. They stressed that developed nations must fulfill their obligations under international agreements like the Paris Accord.
In a joint statement, BRICS countries emphasized that climate finance is a duty of the developed world, not an option. They also criticized environmental trade policies like carbon border taxes and anti-deforestation laws, calling them “discriminatory protectionist measures” disguised as climate action.
Brazilian President Luiz Inacio Lula da Silva, who is set to host the upcoming United Nations climate summit in November, strongly condemned climate denialism. Without naming names, he took aim at past actions such as former U.S. President Donald Trump’s withdrawal from the Paris Agreement, warning that “denialism and unilateralism are eroding past achievements.”
While advocating for a transition away from fossil fuels, the BRICS group acknowledged that oil and gas will still play a key role in the energy mix of developing countries. This reflects internal differences within the bloc on how quickly fossil fuel dependence can be reduced.
Despite these challenges, BRICS leaders backed a Brazilian initiative the Tropical Forests Forever Facility to fund protection of endangered forests. The fund aims to go beyond existing climate agreements by helping Global South countries finance forest conservation. Brazil’s Finance Minister said China and the UAE have shown interest in investing in the fund.
Brazil’s Environment Minister Marina Silva admitted the BRICS face “many contradictions” but stressed their commitment to cooperation and long term solutions.
