BRICS condemns EU carbon tax

On August 18, 2026, the BRICS countries, during their 12th Environment Ministers' Meeting in New Delhi chaired by India, voiced their opposition to unilateral, punitive, discriminatory, and protectionist climate measures such as the EU's Carbon Border Adjustment Mechanisms (CBAMs). They emphasized the need for a significant increase in international funding to support developing countries in adapting to climate change.

The Ministers specifically warned that carbon border measures like CBAMs could undermine developing countries' efforts to address climate change and build resilience. This stance comes as the EU's CBAM entered its definitive phase on January 1, 2026, requiring importers of carbon-intensive products to account for associated carbon emissions.

India, with significant exposure to the mechanism through its steel exports, has faced reduced export quantities and revenues from high-emission steel firms during the CBAM reporting phase. The BRICS countries also called for an urgent increase in adaptation finance from developed countries, stressing that support should be new, additional, predictable, adequate, and accessible, provided through grants and concessional finance.

They urged developed countries to meet the commitment to triple adaptation finance to developing countries by 2035, as they prepare for the UN climate conference COP31 in Turkey in November.