BRICS and Brazil: Shaping Climate Finance at COP30 Amid U.S. Withdrawal

As the U.S. withdraws from the Paris Agreement, Brazil, hosting COP30, aims to amplify developing nations' voices in climate finance negotiations. Developing nations push back against expanding donor bases, while BRICS may bolster Brazil's efforts. Wealthy countries are criticized for minimizing their financial responsibilities to curb climate change.

The U.S. exit from the Paris Agreement casts a shadow on climate finance talks at COP30, hosted by Brazil. Developing nations are uniting against expanding donor bases, and BRICS might bolster Brazil's efforts in securing more contributions from wealthy emitters. With the U.S. out, negotiations face an uphill climb.

Last year's summit in Azerbaijan revealed the intense rift between wealthy and developing nations, with the former pledging insufficient funds by 2035. The ongoing financial dispute emphasizes the challenges of realizing substantial climate finance commitments without U.S. leadership, intensifying global debate over equitable financial responsibilities.

European leaders urge big polluters like China and Gulf states to shoulder more financial burdens, but pushback prevails. Brazil, with its BRICS presidency, seeks consensus to block reduced contributions from affluent nations. By catalyzing discussions within BRICS, Brazil hopes to maintain pressure on historically high-emitting countries to meet their financial obligations.

(With inputs from agencies.)