4 days ago
Delhi BRICS Summit to Advance Climate Cooperation and Resilience
BRICS countries will meet in New Delhi in September.
They want to work together on climate change.
Many developing countries face droughts, floods, heatwaves and cyclones.
These problems can damage buildings, reduce food supplies and hurt economies.
The summit may focus on preparing farms and communities for these risks.
BRICS countries are also building more wind and solar energy projects.
The report says they need better shared financial systems to pay for climate projects.
India could suggest several tools to make green investment easier between member countries.
The 18th BRICS Summit is scheduled for September in New Delhi, with climate cooperation expected to be a key focus.
The summit will emphasize agricultural resilience and disaster-risk reduction amid droughts, floods, heatwaves and cyclones.
BRICS countries are pursuing clean-energy transitions, but the report says they lack joint financial architecture to support them.
India could promote Project Bridge for climate-finance transactions and encourage Gulf sovereign wealth fund investment in New Development Bank projects.
The report also recommends accelerating rupee bond programs across BRICS currencies using India’s digital public infrastructure expertise.
- Who
- BRICS member countries, with India serving as the summit host and chair.
- What
- The 18th BRICS Summit is expected to advance climate cooperation, disaster resilience and climate finance.
- Where
- New Delhi, India.
- When
- The summit is scheduled for September; the articles do not specify a day or year.
- Why
- Developing economies face growing climate risks and need coordinated adaptation measures, clean-energy investment and financing systems.
Key facts
- Summit
- 18th BRICS Summit
- Host
- New Delhi, India
- Main climate priorities
- Agricultural resilience and disaster-risk reduction
- Climate risks cited
- Droughts, floods, heatwaves and cyclones
- Proposed financial tool
- Project Bridge, a blockchain-enabled multi-CBDC platform
- Other proposals
- Gulf sovereign wealth fund co-investment in New Development Bank climate projects and faster rupee bond programs
- Earlier climate commitments
- BRICS climate-related agreements were cited from the 2015 Ufa Summit and the 17th Summit in Rio de Janeiro
Quotes
The National report
South African news report cited as the article’s source
“First, BRICS can amplify the reach of Project Bridge, the blockchain-enabled multi-CBDC platform developed by BRICS’ central banks, as a settlement layer for climate finance transactions, reducing dollar intermediation and transaction costs for cross-border green investment within the bloc.”
thehansindia.com
“Across BRICS nations, a clean energy transition is already full speed ahead, with wind and solar projects outnumbering planned fossil fuel plants. What is missing is a joint financial architecture to match that momentum.”
thehansindia.com
Sources
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