New Delhi: Developing countries are facing major challenges in meeting climate goals, primarily due to a lack of financial support from wealthier nations. At a recent BRICS Environment Ministers’ meeting in Brasilia, Brazil, India emphasized the urgent need for climate justice.
India pointed out that while developed countries have committed to providing USD 300 billion per year by 2035 for climate finance, this amount falls far short of the estimated USD 1.3 trillion necessary. Without sufficient funding, many developing nations may struggle to implement effective climate policies, leaving them vulnerable to climate change.
This year’s COP30, taking place in Brazil, presents a critical opportunity for action. India underscored the importance of focusing on adaptation and resilience, stating that BRICS should unite to support the COP30 presidency in facilitating meaningful discussions on climate adaptation.
The urgency is high; experts believe that by 2025, significant milestones must be met in climate adaptation efforts. For instance, the UAE-Belem Work Programme aims to address adaptation needs effectively, and securing a clear roadmap for global adaptation goals is paramount.
Moreover, India stressed the importance of using the world’s limited carbon budget equitably, ensuring that developing countries’ sustainable development needs are prioritized. AWARENESS and collective action among BRICS nations can lead the way in pushing for a fair transition to a sustainable future.
Historically, BRICS – now expanded from five to eleven countries – represents a growing coalition of economies, accounting for around 47% of the global population and contributing 36% to global GDP. This expansion aligns with the growing emphasis on the role of emerging economies in global discussions about sustainability and climate change.
Furthermore, BRICS nations face shared environmental challenges such as air and water pollution, biodiversity loss, and land degradation. However, leveraging their combined scientific expertise can lead to innovative and affordable solutions tailored to meet these challenges.
As the world grapples with the urgent call for climate action, the influence of BRICS in the energy sector is set to increase. Projections indicate that by 2050, these nations will contribute significantly to global oil and gas production, as well as coal reserves. Their critical role in supplying essential minerals for renewable technologies will be vital for the global energy transition.
For more insights on the impact of BRICS on climate finance and sustainability, check out this report from the World Bank.
Check out this related article: Why African Citizens Believe Their Governments Must Lead in Climate Action: Insights from Communications Earth & Environment
Source linkclimate finance, climate justice and equity, BRICS Environment Ministers, COP30 climate conference, adaptation and resilience, developing countries climate targets, global energy transition
