Leaders of the BRICS bloc, Brazil, Russia, India, China, and South Africa, concluded their summit in Rio de Janeiro by demanding that developed nations fulfill their financial obligations to support climate action in emerging economies.
In a joint declaration, the group emphasized that developed countries must provide climate finance and stop imposing what they called "discriminatory" environmental measures, such as carbon border taxes and EU deforestation laws, News.Az reports, citing Iranian media.
Brazilian President Luiz Inácio Lula da Silva highlighted the importance of the Global South in climate action, especially as Brazil prepares to host the upcoming UN climate summit. The leaders also backed the proposed Tropical Forests Forever Facility, an initiative aimed at protecting forests and financing climate efforts beyond the Paris Agreement. China and the UAE have reportedly expressed willingness to contribute.
BRICS reiterated that fossil fuels would remain essential for the economic development of many nations and called for a balanced, multilateral approach to climate solutions.
