BRICS condemns EU carbon tax
Calls for a significant increase in international funding to help developing countries adapt to climate change
On August 18, 2026, BRICS countries criticized the European Union's (EU) Carbon Border Adjustment Mechanisms (CBAMs), labeling them as "unilateral, punitive, discriminatory and protectionist" climate measures. During the 12th BRICS Environment Ministers' Meeting in New Delhi, under India's chairmanship, the ministers expressed concerns that such measures could undermine developing countries' efforts to address climate change and build resilience.
The CBAM requires importers of carbon-intensive products to account for carbon emissions associated with their production. India, which has significant exposure to the mechanism through steel exports, faces additional carbon-related compliance requirements in the European market. At the same time, the BRICS countries called for a substantial increase in international funding to help developing nations adapt to climate change.
They emphasized that adaptation finance should be "new, additional, predictable, adequate and accessible," provided through grants and concessional finance, without increasing financial vulnerabilities. The demand for increased adaptation finance is particularly important as COP31, the UN climate conference in Turkey in November, approaches.
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