BRICS leaders unite to tackle climate change and economic challenges. Image: The Economic Times.
(The Post News)– Leaders of the BRICS group of developing nations are set to tackle the pressing issue of climate change on the final day of their summit in Rio de Janeiro.
They are calling on wealthy nations to take responsibility for funding efforts to reduce greenhouse gas emissions, which are having a devastating impact on the environment. The BRICS leaders believe that developed countries have a historical responsibility to support developing nations in their efforts to mitigate the effects of climate change.
Brazilian President Luiz Inácio Lula da Silva is emphasizing the crucial role that the Global South will play in addressing global warming. As he prepares to host the United Nations climate summit in November, Lula highlighted the need for collective action to address the climate crisis. However, the BRICS leaders’ joint statement suggests that fossil fuels will continue to be a significant part of the global energy mix, particularly in developing economies where energy demands are high.
“We live in a complex world with many contradictions,” said Brazil’s Environment Minister Marina Silva, highlighting the challenges of balancing economic development with environmental protection. She emphasized the need to overcome these contradictions, particularly when it comes to issues like extracting oil off the coast of the Amazon rainforest, which has significant environmental implications.
The BRICS leaders’ joint statement underscores the importance of climate finance, emphasizing that developed countries have a responsibility to provide support to developing countries. This is a key position for emerging economies in global negotiations, where they are seeking to ensure that their needs are taken into account. The statement also expresses support for a proposed fund to protect endangered forests, known as the Tropical Forests Forever Facility, which could provide a new source of funding for conservation efforts.
According to sources, China and the UAE have expressed interest in investing in the Tropical Forests Forever Facility, which was proposed by Brazil as a way for emerging economies to fund climate change mitigation beyond the mandatory requirements imposed on wealthy nations. This development could provide a significant boost to efforts to protect tropical forests and promote sustainable development.
The BRICS leaders’ joint statement criticizes policies like carbon border taxes and anti-deforestation laws, which they see as discriminatory and protectionist. They argue that these policies are being used as a pretext for environmental concerns while actually serving to protect the interests of developed countries. The BRICS leaders believe that such policies could have a negative impact on developing countries and undermine global efforts to address climate change.
The BRICS summit has showcased the group’s influence, representing 40% of global output and bringing together leaders from diverse backgrounds. The meeting has highlighted the importance of multilateral diplomacy in a fractured world, where global challenges require collective action. The BRICS leaders are calling for reforms in multilateral institutions, which they believe are dominated by developed countries and need to be more representative of the Global South.
Brazilian President Luiz Inacio Lula da Silva drew a parallel between the BRICS group and the Cold War’s Non-Aligned Movement, which resisted joining either side of the polarized global order. He emphasized the importance of autonomy and multilateralism in a world where global governance is under strain. Lula’s remarks highlighted the BRICS group’s commitment to independence and cooperation in the face of global challenges.
The Rio summit has raised questions about the shared goals within the diverse BRICS group, which has expanded rapidly over the years. Despite its growing influence, the group still faces challenges in achieving a unified position on key issues, such as reforming the United Nations Security Council. The meeting’s impact was somewhat diminished by the absence of Chinese President Xi Jinping, who sent Premier Li Qiang in his place. Nevertheless, the summit demonstrated the BRICS group’s commitment to multilateralism and cooperation in a rapidly changing world.
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