Carbon tax ‘undermines developing nation efforts’
New Delhi: BRICS countries on Saturday, in their New Delhi declaration, specified energy security as a crucial foundation for social and economic development , emphasising that fossil fuels will still play an important role and the need for a just, orderly and equitable energy transition
The BRICS countries, in their New Delhi declaration, have highlighted energy security as a fundamental pillar for social and economic development, asserting that fossil fuels will continue to play a significant role in the transition. Member nations have voiced opposition to unilateral trade-restrictive measures, such as the European Union’s Carbon Border Adjustment Mechanism (CBAM), arguing that these policies can hinder the efforts of developing economies to address climate change and improve adaptive capacity.
The CBAM, set to commence in January 2026, imposes a carbon pricing policy to equalize carbon costs between domestic and imported goods, effectively levying a 'pollution tax' on higher carbon goods imported into EU countries. The BRICS nations have reaffirmed their commitment to cooperating in disaster risk reduction and enhancing early warning systems, while acknowledging the disproportionate burden of climate finance on developing countries.
They emphasized the importance of a balanced and diversified energy mix, including renewables, bioenergy, fossil fuels, nuclear energy, hydropower, hydrogen, low-carbon technologies, energy storage, and advocated for BRICS cooperation in the energy sector to strengthen resilience and protect critical infrastructure.
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