Brazil Proposes to Bring a Joint BRICS Position to the Climate Summit
Brazilian President Lula da Silva (L) during the announcement that COP30 will be held in Para, Belem.
February 21, 2025 Hour: 1:23 pm
The BRICS proposal will be presented at the 30th United Nations Climate Change Conference (COP30).
On Friday, Brazilian Ambassador Mauricio Lyrio said that his country would suggest to the BRICS emerging economies forum that it design a joint proposal to finance the fight against climate change in the poorest countries.
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Starting next week, this proposal will be negotiated in Brasilia to be presented at the 30th United Nations Climate Change Conference (COP30), which will be held in the Amazonian city of Belem at the end of the year.
The BRICS group was founded by Brazil, Russia, India, China, and South Africa and has recently accepted new members, including Egypt, the United Arab Emirates, Ethiopia, Iran, Indonesia, and Saudi Arabia, although the latter has yet to formalize its membership.
Diplomat Lyrio stated that Brazil aims to strengthen climate change-related financing for the poorest countries, especially after what he described as the “insufficient” outcome of COP29, held in Baku in 2024. He emphasized that the consensus to set climate financing at $300 billion per year is “far from ideal” to contain the global warming process.
The meeting in Brasilia will be the first BRICS forum of the year and will serve as a starting point for preparing the leaders’ summit, scheduled for July 6 and 7 in Rio de Janeiro. Beyond concerns about climate change, Lyrio said that emerging economies will continue discussions that have been ongoing for years regarding reducing the costs of trade transactions between member countries.
In this context, he explained that Brazil will advocate for mechanisms that facilitate trade payments in local currencies and other alternatives. However, this does not mean that BRICS is discussing the creation of a common currency—an idea that led U.S. President Donald Trump to recently threaten tariffs on emerging economies that abandon the U.S. dollar.
“That has not been discussed and is not being discussed,” Lyrio insisted, stressing that the creation of a new currency would be “an overly complex process” and is currently not on the BRICS agenda. The meetings in Brasilia are also expected to host delegates from BRICS-associated states, including Bolivia, Cuba, Belarus, Kazakhstan, Malaysia, Thailand, Uganda, Uzbekistan, and Nigeria.
teleSUR/ JF
Source: EFE
