BRICS built 350 meetings' worth of climate cooperation this year, almost none of it comes with money
&imwidth=600&imheight=450&format=webp&quality=medium "BRICS built 350 meetings' worth of climate cooperation this year, almost none of it comes with money")
Photograph: (ANI)
BRICS’ expanded climate cooperation under India’s chairship has produced hundreds of meetings and sectoral agreements, but experts flag the lack of dedicated financing and binding commitments as the bloc’s key challenge in turning plans into projects.
BRICS arrives at its 18th summit in New Delhi with an expanded membership of 11 countries and 10 partners, together accounting for close to half the world's population and roughly 40 per cent of global GDP.
According to a briefing by the research group Climate Trends, over the past year, India's chairship has convened more than 350 meetings across 25 cities, producing around 20 sectoral agreements on energy, agriculture and urban planning. But the same briefing flags a consistent pattern behind those numbers: the outcomes are voluntary and non-binding, and none of them is backed by a dedicated financing mechanism — a gap that becomes harder to ignore against the New Development Bank's own reported climate-lending figures, which sit below the target the bank has set for itself.
On energy specifically, that BRICS has adopted guiding principles on energy storage and smart grids, and launched a Digital Centre of Excellence for Smart Grids and Energy Storage, with cooperation extending to hydrogen, biofuels, critical minerals and carbon capture. The bloc's membership spans both major energy producers and consumers, alongside countries holding significant renewable-energy capacity.
Dammu Ravi, former Secretary for Economic Affairs at India's Ministry of External Affairs, frames this as an opening for joint projects rather than parallel national ones. "No single country can do these energy projects alone," he said, citing China's capital, technology and critical-mineral capacity, India's renewable-energy investment base, Brazil's experience with flex-fuel biofuels and Russia's nuclear expertise, including small modular reactors. Combined, he said, these strengths could support what he called "gigawatt scale mega projects." He added that "political and bilateral issues" among members would still need to be resolved.
Beyond energy generation, the briefing lists BRICS principles on community-based climate adaptation and traditional and indigenous knowledge systems, along with initiatives on regenerative agriculture, digital farming and climate-resilient logistics, and a proposed urban mobility and research network aimed at building climate and disaster risk into city planning. It characterizes all of these as cooperation and knowledge-sharing platforms rather than binding commitments.
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On financing, according to the New Development Bank's own figures, it’s authorized capital of $100 billion, against $53.4 billion subscribed and roughly $42.9 billion in cumulative approvals across 139 projects. The Bank reported climate finance stood at $8.1 billion at the end of 2024, or 23 per cent of the Bank's portfolio, with mitigation lending far outpacing adaptation.
Ravi argues that renewable-energy models developed in India and China could be replicated in other parts of the Global South, particularly Africa, but says the missing elements are financing structures, incentives and mechanisms to reduce investment risk.
Experts also raise a technology question that BRICS has not yet addressed: rising electricity demand from data centres tied to AI and digital agriculture initiatives, in economies where additional power generation still relies significantly on coal.
On fossil fuels, the briefing notes that BRICS energy ministers have emphasized flexibility based on national circumstances and development priorities, and that the bloc continues to recognize a continuing role for fossil fuels alongside its just-transition language — a position it describes as consistent with the bloc's stance in prior years rather than a new shift.
Li Shuo, director of the China Climate Hub at the Asia Society Policy Institute, described the bloc's approach as "variable geometry" — cooperation where interests overlap even amid disagreement elsewhere. "Climate change is clearly one area where this diverse group has a shared interest," he said, pointing to falling clean-energy costs and mounting climate impacts as reasons for collective action.
The period after the summit is the real test of the chairship: whether the agreements reached this year convert into investment, technology partnerships and actual projects. With COP31 set to open in Antalya in November, that BRICS' positions on adaptation finance, just transition and carbon accounting could shape what a large share of the Global South brings into those negotiations.
