BRICS Nations Adopt Climate and Sustainable Development Framework

BRICS countries have agreed on a comprehensive framework addressing climate action and sustainable development. Key elements include mitigation, adaptation, carbon markets, and collaborative projects. Notably, the BRICS nations also emphasized resisting unilateral green protectionist measures that disadvantage developing economies.

The BRICS nations have adopted a comprehensive framework on climate and sustainable development, as announced by the Russian Economic Development Ministry on Friday. The framework covers key aspects such as just transition, mitigation, adaptation, carbon markets, finance, science, and business involvement.

Russian Economic Development Minister Maxim Reshetnikov highlighted that all BRICS countries oppose unilateral green protectionist measures by developed nations, as these harm the economies and supply chains of developing countries. A second document, a memorandum of understanding on the BRICS carbon markets partnership, was also developed during the forum.

The BRICS grouping, comprising Brazil, Russia, India, China, and South Africa, represents 41% of the world's population and 24% of global GDP. Their collective efforts have been pivotal in global economic growth. With Iran, Saudi Arabia, and the UAE part of the group, BRICS now has access to 44% of the world's crude oil production.

(With inputs from agencies.)