BRICS Nations Challenge EU's Carbon Tax Measures
By Editor • August 18, 2026 • 1 min read
In a strong show of unity, BRICS nations have voiced their opposition to the European Union's Carbon Border Adjustment Mechanisms (CBAMs), labeling them as "unilateral, punitive, discriminatory and protectionist". This declaration was made during the 12th BRICS Environment Ministers’ Meeting in New Delhi, held under India's leadership on August 18, 2026.
The CBAMs, which came into full effect on January 1, require importers of carbon-intensive goods, including iron, steel, and cement, to account for the carbon emissions linked to their production. The EU has defended the measures as necessary to prevent "carbon leakage," where production shifts outside the EU due to differing climate policies.
India, a significant player in the global steel market, has been particularly affected by these regulations, with iron and steel representing around 90% of its exports to the EU that fall under the CBAM framework. Recent research highlighted that Indian steel firms with higher emissions have seen a drop in exports to the EU, while those with lower emissions maintained their levels.
In their joint statement, BRICS ministers called for an urgent boost in international funding to aid developing countries in adapting to climate change. They emphasized that support should be "new, additional, predictable, adequate and accessible," aiming to meet the commitment made at the 2025 UN climate conference to triple adaptation finance by 2035.
The need for accessible adaptation finance is crucial as countries face increasing climate impacts, and the issue remains unresolved ahead of the upcoming COP31 summit in Turkey this November. The BRICS nations insist that the delivery and effectiveness of such support must be closely monitored to ensure it reaches those in need.
Source: www.thehindu.com
