BRICS Leaders Demand Climate Finance from Wealthy Nations

• 08 Jul 2025

On 7th July 2025, the BRICS summit in Rio de Janeiro concluded with leaders calling on developed nations to provide climate finance and support global emissions reduction efforts.

Key Points

• Global South Leadership: Brazilian President Lula emphasized the role of the Global South in fighting climate change, ahead of hosting the UN climate summit in November.
• Fossil Fuels Still Vital: A joint BRICS statement highlighted that fossil fuels will remain key to the energy mix, especially in developing economies.
• Climate Finance Responsibility: The BRICS bloc reiterated that developed countries bear the responsibility of funding climate mitigation in developing nations.
• Support for Forest Fund: BRICS backed Brazil’s proposed “Tropical Forests Forever Facility” to help preserve endangered forests beyond obligations set by the 2015 Paris Agreement
• Investments from China and UAE: Both nations indicated interest in investing in Brazil’s climate fund, according to recent discussions with Brazil’s finance minister.
• Criticism of EU Policies: The group condemned European carbon border taxes and anti-deforestation laws as “discriminatory protectionist measures” disguised as environmental regulation.