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 nations denounced the European Union's Carbon Border Adjustment Mechanism (CBAM) as "unilateral, punitive, discriminatory and protectionist" climate policies during the 12th BRICS Environment Ministers' Meeting in New Delhi. They emphasized that such measures could undermine developing countries' efforts to combat climate change and build resilience.
The CBAM, which took effect on January 1, 2026, requires importers of carbon-intensive products like iron, steel, aluminium, cement, fertilizers, hydrogen, and electricity to account for their carbon emissions. India, which has significant exposure to the EU market through steel exports, is among the countries affected. Recent analysis from Nature Climate Change found that high-emission Indian steel firms reduced their EU exports during the CBAM reporting phase, while lower-emission firms maintained their levels.
BRICS countries called for a substantial increase in international adaptation finance to assist developing nations in coping with climate change impacts, urging developed countries to meet their commitment to triple adaptation funding by 2035.
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