BRICS nations oppose EU carbon border tax at New Delhi meet

BRICS countries, meeting in New Delhi on Tuesday, unanimously opposed the European Union's Carbon Border Adjustment Mechanism (CBAM), calling it a "unilateral, punitive, discriminatory and protectionist" measure. The joint ministerial statement, adopted under India's BRICS chairship for 2026, expressed concern that such carbon border taxes undermine climate efforts by developing countries. Union environment minister Bhupender Yadav delivered the keynote address at the 12th BRICS environment ministers' meeting.

The Times of India reports that the BRICS statement also opposed any similar trade barriers not aligned with international law. The Hindu adds that the ministers called for a significant increase in adaptation finance from developed countries, urging them to triple such funding by 2035 as agreed at the 2025 UN climate conference. CBAM, which entered its definitive phase in January 2026, requires importers of carbon-intensive goods like steel, aluminium and cement to account for embedded emissions.

India has significant exposure to CBAM through its steel exports, with iron and steel making up about 90% of India's CBAM-covered exports to the EU, according to The Hindu. The BRICS meeting also adopted four outcome documents and unveiled knowledge compendiums on sustainable practices. The group, which now includes 11 members accounting for 40% of global GDP, will watch for further developments ahead of the COP31 climate conference in Turkey in November.