The BRICS New Delhi Declaration, adopted at the 18th summit, explicitly criticizes carbon border adjustment mechanisms for the first time, framing them as Western trade barriers. The joint statement links opposition to unilateral tariffs, climate-linked trade measures, and WTO reform into a single demand for a trading system that gives emerging economies more voice. India, chairing the bloc, called the consensus a win-win because it preserved strategic autonomy while reflecting its concerns on trade and domestic currency settlements. For carbon market watchers, the declaration signals that CBAM is now a geopolitical flashpoint, not just an EU compliance issue. BRICS members oppose what they see as unilateral carbon tariffs, but the statement does not outline an alternative carbon pricing framework. That leaves exporters in these countries still exposed to EU rules unless WTO talks or bilateral deals produce a different path.
