BRICS Rejects Carbon Border Taxes, Calls for More Adaptation Finance in New Delhi Declaration

BRICS leaders at the New Delhi summit rejected carbon border adjustment mechanisms, calling them unilateral, punitive and protectionist. The declaration argues these measures hit developing countries hardest and undermine climate adaptation efforts. It also reaffirms the Paris Agreement and the principle of common but differentiated responsibilities. Beyond the CBAM stance, the group calls on developed countries to provide predictable finance, technology transfer and capacity building for adaptation. It highlights debt burdens as a barrier to climate investment and supports cooperation on carbon markets through the BRICS Carbon Markets Partnership. For carbon market watchers, the key signal is that BRICS members remain open to carbon trading while opposing border taxes. The declaration also backs results based financing for tropical forests, so expect follow-up on implementation and funding details.