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 the tax The European Union
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 the IISD focuses on the
On 23 February 2021, the Department of Environment, Forestry and Fisheries (DEFF), Government of South Africa gave a presentation at the Portfolio Committee Meeting on the Operationalisation of the Carbon