\n<\/p>\n
BRICS Nations Oppose EU’s Carbon Border Tax<\/strong><\/p>\n In a significant development, the BRICS nations have voiced their opposition to unilateral trade measures like the European Union’s (EU) carbon border adjustment mechanism (CBAM). This move is seen as detrimental to the efforts of developing countries striving to tackle the effects of climate change.<\/p>\n During a recent meeting, the BRICS members acknowledged the importance of reducing greenhouse gas emissions to meet climate objectives. However, they stressed the necessity of separating punitive actions from the collective goal of climate action. They advocated for a balanced energy approach that recognizes the ongoing role of fossil fuels alongside renewable energy and nuclear power, especially for emerging and developing economies.<\/p>\n The CBAM, which became operational on January 1, is a system designed to impose a tax on carbon-intensive imports\u2014such as iron, steel, aluminum, and cement\u2014entering the 27 EU nations. BRICS leaders have consistently criticized this measure since its inception, arguing that it unfairly burdens businesses in developing countries that are already managing embedded emissions in their products. In their New Delhi Declaration, they labeled such measures as \u201cpunitive, discriminatory, and protectionist,\u201d emphasizing that they violate international law.<\/p>\n While reaffirming their commitment to the Paris Agreement’s climate goals, the BRICS countries called for more equitable actions based on the United Nations’ principle of common but differentiated responsibilities. They acknowledged that different countries face different circumstances when it comes to climate challenges.<\/p>\n Additionally, they underscored the importance of enhancing energy security by ensuring market stability and maintaining steady energy supplies from a variety of sources, including fossil fuels. Notably, several BRICS members, including Russia, Saudi Arabia, Iran, and the UAE, are key players in the global fossil fuel market. <\/p>\n As the world prepares for COP31 in Turkey this November, BRICS nations have urged all countries to reaffirm their commitments to combat climate change and expressed their belief in the strength of multilateral cooperation in addressing this global issue.<\/p>\n\n","protected":false},"excerpt":{"rendered":" BRICS Nations Oppose EU’s Carbon Border Tax In a significant development, the BRICS nations have voiced their opposition to unilateral trade measures like the European Union’s (EU) carbon border adjustment mechanism (CBAM). This move is seen as detrimental to the efforts of developing countries striving to tackle the effects of climate change. During a recent<\/p>\n","protected":false},"author":1,"featured_media":43139,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[28],"tags":[2081,16486,1750,1980,33962,56842,2080,471,2055,2078,2079],"class_list":["post-43138","post","type-post","status-publish","format-standard","has-post-thumbnail","category-india-news","tag-breaking-news","tag-brics","tag-climate-change","tag-developing-countries","tag-energy-security","tag-eu-carbon-border-tax","tag-google-news","tag-india","tag-india-news","tag-india-news-today","tag-today-news"],"_links":{"self":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts\/43138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/comments?post=43138"}],"version-history":[{"count":0,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/posts\/43138\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/media\/43139"}],"wp:attachment":[{"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/media?parent=43138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/categories?post=43138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indiabulletinusa.com\/wordpress\/wp-json\/wp\/v2\/tags?post=43138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}