BRICS Oppose Carbon Border Taxes in New Delhi Declaration

BRICS leaders issued a joint declaration opposing carbon border adjustment mechanisms like the EU CBAM and the UK carbon border tax, calling them unilateral, punitive, and harmful to developing countries. The statement says these measures undermine climate adaptation and resilience efforts in emerging economies. The declaration, released after a summit in New Delhi, flags iron and steel, cement, fertilizer, and aluminium as sectors that could face new import duties. BRICS also agreed to cooperate on intellectual property rights and global value chains, but the carbon tax position is the part with the most direct trade consequences. The stance raises a key question: will BRICS countries back their opposition with their own carbon pricing or emissions reporting systems, or is this mainly political pushback? For companies exporting to Europe, CBAM compliance is still the immediate reality.