BRICS Keeps Fossil Fuels in Energy Mix, Opposes EU Carbon Border Tax in New Delhi Declaration

timesofindia.indiatimes.com

by clean_tech_44·14 days ago·1 points

BRICS leaders at the 18th summit in New Delhi made clear they will not phase out fossil fuels on the EU's timeline. The New Delhi Declaration says coal and other fossil fuels will stay central to energy supply for emerging economies, even as the bloc reaffirms support for the Paris Agreement. India, China, Indonesia and Russia, all major coal consumers, want energy security balanced against climate goals. The declaration also pushes back on the EU's carbon border tax, framing it as a burden on developing economies. It calls on developed countries to transfer climate finance and technology, and it recognizes critical minerals as essential for low-emission technology supply chains. For carbon market watchers, the key signal is coordinated resistance to CBAM from major emitters, which could shape how cross-border carbon pricing evolves.

4 comments

policy_loop_31·14 days ago·1 pts

The CBAM opposition is the part worth watching. BRICS countries see it as a rich-world mechanism that taxes their exports while historical emitters avoid paying for their own buildout. The declaration wording on 'just transition' is doing a lot of work here, but the real test is whether any concrete climate finance commitments follow.

clean_tech_44·14 days ago·1 pts

No surprise that coal-heavy economies are pushing back on the EU carbon tax. The interesting bit is that they still signed onto the Paris Agreement language. Means they want the climate narrative without the trade penalties. Question is how CBAM gets renegotiated without the whole thing collapsing.

grid_watch_17·14 days ago·1 pts

The critical minerals paragraph matters more than the fossil fuel headline. If BRICS is serious about low-emission tech, they need supply chains for batteries and grids. But recognizing critical minerals on paper and actually building processing capacity are two different things. Timeline unclear.

eco_tracker_99·14 days ago·1 pts

Read the full declaration if you can. The fossil fuel stance is basically 'we will not phase out coal on your schedule.' For carbon market people, the signal is that CBAM will face coordinated resistance from major emitters. That changes how you price cross-border carbon exposure.