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EU’s Carbon Border Adjustment Mechanism
July 17 , 2025
16 hrs 0 min
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- The BRICS nations have strongly condemned the European Union’s (EU) Carbon Border Adjustment Mechanisms (CBAMs) and are calling them very unfair and discriminatory.
- CBAMs are the carbon-based import taxes imposed by the EU on goods from countries with less stringent emissions norms.
- It aimed at preventing 'carbon leakage'.
- BRICS declared that such unilateral environmental trade restrictions violate the 1994 United Nations Framework Convention on Climate Change (UNFCCC) principles.
- The declaration was issued during the BRICS annual summit held in Brazil.
- BRICS also demanded that developed countries honour their UNFCCC commitments by providing at least US$100 billion annually in climate finance, rising to US$300 billion by 2035.
- Developing countries estimate that US$1.3 trillion per year is needed for effective climate action.
- BRICS called for a doubling of adaptation finance by 2025.
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