The BRICS countries have adopted their first climate finance framework to formulate a unified position for COP30.

Foreign Media: BRICS Countries Form Joint Position for the First Time on Climate Financing Framework

The BRICS group (Brazil, Russia, India, China, South Africa) has, for the first time on May 29, passed a joint framework for climate financing. This is the most coordinated action taken by the organization in addressing the issue of climate change funds, and it has formulated a unified position for the first time for the United Nations Climate Conference (COP30), which will be held in Belém, Brazil in November.

This non-binding framework was reached at the High-Level Meeting on Climate Change and Sustainable Development, focusing on reforming multilateral development banks, expanding concessional financing, mobilizing private capital, and other aspects, aiming to support climate actions in the Global South countries. This framework will be submitted to the BRICS leaders for review in July.

Officials from the Brazilian Ministry of Finance stated that this document will guide the collective actions of BRICS countries in the field of climate financing for the first time, marking the group's transition from a defensive stance to proactive coordination in international negotiations. Although informal collaboration among member states has occurred in the past, this is the first time they have formally proposed specific climate finance solutions as a negotiating bloc.

Source: https://www.toutiao.com/article/1833515107695748/

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