Fossil fuel subsidies (USD, billions):
Fossil fuel subsidies with externalities (% of GDP):
Brazil, Russia, India, China and South Africa may strongly oppose the proposed Carbon Border Adjustment Mechanism (CBAM) by the European Union at the 13th BRICS Summit on Thursday as the five developing countries will likely be the biggest losers from its implementation. In a veiled reference to CBAM, BRICS trade ministers last week cautioned that any measure to tackle climate change must be in conformity with multilateral trading rules and shouldn’t put arbitrary restrictions on international trade.
Unpopular among the bloc’s trading partners, countries are seeking exemptions to the carbon levy, as Brussels hints alternatives to pricing may be considered to dodge
Perhaps one of the few areas where a consensus is crystallizing across the major powers of the global economy is on the urgency of advancing
The BRICS—Brazil, Russia, India, China and South Africa—are both influencing and being influenced by global energy markets and the clean energy transition. This report by
A major challenge facing the Republic of Buryatia, subject of the Russian Federation, is how to balance the task of protecting Lake Baikal – a