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BRICS expands climate cooperation, but financing and implementation lag
BRICS countries held many meetings about working together on climate change.
They agreed on ideas for cleaner energy, farming, cities and disaster preparation.
They also discussed technologies such as smart electricity grids, hydrogen and biofuels.
However, these agreements are voluntary, so countries are not legally required to follow them.
The cooperation also does not have a special funding system behind it.
The New Development Bank has provided some climate finance, but its lending remains below its own target.
Experts say the countries could combine their different strengths to build large clean-energy projects.
They still need to solve political disagreements and find ways to reduce investment risks.
The results after the summit will show whether the plans become real projects.
India’s BRICS chairship convened more than 350 meetings across 25 cities and produced about 20 voluntary sectoral agreements.
BRICS adopted principles and launched initiatives covering smart grids, energy storage, hydrogen, biofuels, critical minerals and carbon capture.
The cooperation includes climate adaptation, indigenous knowledge, regenerative agriculture, digital farming and climate-resilient urban planning.
The New Development Bank reported $8.1 billion in climate finance by the end of 2024, representing 23 percent of its portfolio.
Experts say BRICS must turn cooperation into financed projects while addressing fossil-fuel dependence and rising electricity demand from AI data centres.
- Who
- BRICS member countries and partner countries, with contributions from officials and climate experts including Dammu Ravi and Li Shuo.
- What
- BRICS developed more than 20 voluntary climate and energy cooperation agreements and initiatives, but did not attach dedicated financing to them.
- Where
- Meetings were held across 25 cities, with the 18th summit in New Delhi and COP31 scheduled for Antalya.
- When
- During India’s chairship over the past year; the 18th BRICS summit is taking place before COP31 opens in November.
- Why
- To encourage joint action on climate change, energy, adaptation and development, although financing, political differences and implementation remain unresolved.
Cooperation Potential
Implementation Concerns
Joint energy projects
Cooperation Potential
Dammu Ravi said countries can combine China’s capital, technology and critical-mineral capacity, India’s renewable-energy investment, Brazil’s biofuel experience and Russia’s nuclear expertise to develop large projects.
Implementation Concerns
Ravi acknowledged that political and bilateral issues among members must still be resolved before such cooperation can advance.
Climate cooperation model
Cooperation Potential
Li Shuo described climate change as an area of shared interest where BRICS can cooperate despite disagreements in other areas, especially as clean-energy costs fall and climate impacts grow.
Implementation Concerns
Climate Trends said the initiatives are mainly knowledge-sharing platforms without binding commitments or dedicated financing, making implementation uncertain.
Energy transition
Cooperation Potential
The bloc’s initiatives cover renewable energy, smart grids, storage, hydrogen, biofuels, adaptation and resilient development, with potential benefits for the Global South.
Implementation Concerns
BRICS continues to recognize a role for fossil fuels based on national circumstances, while rising electricity demand from AI-related data centres may increase reliance on coal.
Key facts
- BRICS membership
- The bloc has 11 members and 10 partner countries, representing close to half the world’s population and roughly 40 percent of global GDP.
- Meetings
- India’s chairship convened more than 350 meetings across 25 cities.
- Sectoral agreements
- Around 20 agreements were produced in areas including energy, agriculture and urban planning.
- Binding status
- The reported outcomes are voluntary and non-binding.
- New Development Bank capital
- The bank has $100 billion in authorized capital and $53.4 billion subscribed.
- New Development Bank approvals
- The bank reported roughly $42.9 billion in cumulative approvals across 139 projects.
- Climate finance
- Climate finance stood at $8.1 billion at the end of 2024, or 23 percent of the bank’s portfolio.
Quotes
Dammu Ravi
Former Secretary for Economic Affairs at India’s Ministry of External Affairs
“Climate change is clearly one area where this diverse group has a shared interest”
wionews.com
“No single country can do these energy projects alone”
wionews.com
Sources
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