‘Fossil fuels will still play important role’: BRICS Declaration opposes carbon border tax

In the aftermath of disruptions to global supply chains and energy security caused by the conflict in West Asia, the New Delhi Declaration issued at the 18th BRICS Summit steadfastly affirmed that fossil fuels will continue to hold a significant position in the global energy landscape, particularly for developing nations, while opposing the European Union's carbon border tax.

The declaration emphasized BRICS' dedication to addressing climate change and urged all countries to adhere to their commitments under the Paris climate agreement. It highlighted the significance of just transitions to cleaner fuels for electricity production and energy consumption, urging developed nations to offer financial assistance and technology transfer to developing countries for climate resilience.

Energy security was framed as a cornerstone for social, economic development, national security, and welfare, and the declaration advocated for fair and inclusive energy transitions while respecting technological neutrality and the principles of common but differentiated responsibilities. The BRICS members - China, India, Indonesia, and Russia - are among the top coal-consuming countries, with the United States being the sole non-BRICS member.

Despite rapid progress in renewable energy, coal remains a dominant source for electricity generation and energy usage. The declaration also recognized the crucial role of critical minerals in developing zero-and low-emission technologies and underscored the importance of disaster management guidelines, particularly in the context of the recent Nepal flash flood.

Additionally, India's initiative to establish the International Big Cat Alliance and promote cooperation on big cat conservation was acknowledged.