Strengthening BRICS Cooperation for a Sustainable Future

26 Apr Strengthening BRICS Cooperation for a Sustainable Future

This article covers “Daily Current Affairs” and the Topic of the Strengthening BRICS Cooperation for a Sustainable Future

SYLLABUS MAPPING:

GS-03- Environment: Strengthening BRICS Cooperation for a Sustainable Future

FOR PRELIMS

The Role of BRICS in global climate governance.Group contribute to achieving climate action goals

FOR MAINS

Significance of the BRICS in global climate governance and there key challenges.

Why in the News? 

India has called on the BRICS group to unite behind the “Baku to Belem Roadmap” to mobilize $1.3 trillion annually by 2035 for climate action goals. At the 11th BRICS Environment Ministers’ Meeting in Brasilia, India emphasized the need for stronger climate financing mechanisms and urged developed nations to fulfill their commitments. Highlighting shared environmental challenges like desertification and biodiversity loss, India called for collective action within BRICS. India also reiterated its leadership in conservation through initiatives like the International Big Cat Alliance, positioning itself as a key advocate for global climate governance at forums like COP30.

BRICS &  Governance: 

BRICS, representing Brazil, Russia, India, China, and South Africa, is an influential economic and political bloc with growing significance in the global arena. These nations represent over 40% of the world’s population and nearly 25% of global GDP. Their governance model, characterized by mutual respect, cooperation, and the pursuit of common goals, aims to tackle key global challenges. BRICS has grown in prominence in the context of addressing economic disparities, geopolitical tensions, and environmental crises like climate change.

BRICS 2 Meeting: A Milestone in Cooperation

1.Purpose and Significance: The BRICS 2 meeting, held in [insert year], marked a pivotal point in strengthening cooperation between these emerging markets. The bloc continued to promote a collective vision for a multi-polar world order, asserting its relevance in a rapidly changing global landscape.
2. Key Objectives: The primary goal of the BRICS 2 meeting was to enhance economic collaboration, improve trade, and tackle global issues like climate change and sustainable development. Leaders emphasized the need for better coordination and shared investments across the BRICS nations.
3. Reaffirmation of Core Principles: The meeting reaffirmed the founding principles of BRICS—sovereignty, equality, and non-interference in the domestic affairs of member countries. This approach reflects BRICS’ desire to challenge the dominance of Western powers in global governance.
4. Economic Development Focus: One of the key topics discussed was economic resilience in the face of global uncertainties. The BRICS nations recognized the need for increased trade within the bloc and the importance of mutual investment in infrastructure development.
5. Geopolitical Context: The BRICS 2 meeting underscored the rise of multipolarity and how the bloc can contribute to maintaining global peace and stability. The members recognized the growing importance of South-South cooperation in maintaining peace.
6. Climate Change Agenda: The BRICS countries agreed to promote clean energy and implement climate-resilient practices. In 2021, Brazil, Russia, India, China, and South Africa collectively accounted for over 40% of global carbon dioxide emissions, making their cooperation essential in addressing climate change.
7. Expansion of BRICS: BRICS also discussed the possibility of expanding the group to include more nations, particularly those from the Global South, in a bid to increase the representation of developing countries in global decision-making forums.

Key Highlights of the Meeting

1. Strengthened Economic Ties: BRICS members agreed to increase intra-BRICS trade. The bloc’s collective share of global trade reached $6.5 trillion in 2020, which constitutes about 16% of world trade. Efforts were made to enhance cooperation in infrastructure, finance, and trade.
2. Sustainability and Green Energy: One of the major outcomes was a commitment to accelerate the transition to green energy. The BRICS nations pledged to reduce their collective carbon footprint and invest in renewable energy sources such as wind, solar, and hydropower. China, for instance, has become a leader in solar energy, investing over $100 billion in clean energy projects in 2020 alone.
3. Addressing Global Inequality: The BRICS meeting reaffirmed the commitment to combat poverty and inequality. The group’s New Development Bank (NDB), which has lent more than $30 billion to various projects across member countries, plays a crucial role in financing projects aimed at reducing inequality.
4. Strengthened Political Dialogue: The BRICS bloc emphasized that dialogue, not confrontation, is key to solving global political issues. The countries are committed to fostering peace and security, particularly in areas like the Middle East and Africa.
5. COVID-19 Recovery: In response to the COVID-19 pandemic, BRICS countries committed to an equitable distribution of vaccines, with India playing a pivotal role in vaccine production. India, for instance, has provided more than 60 million COVID-19 vaccine doses to over 70 countries through its “Vaccine Maitri” initiative.
6. Digital Economy and Innovation: With a focus on technology, the BRICS nations agreed to work together on digital infrastructure, cybersecurity, and fintech. China’s role in e-commerce, particularly with companies like Alibaba, was recognized as a key driver for economic growth in the region.
7. Crisis Response Mechanisms: The BRICS 2 meeting also discussed strengthening emergency response mechanisms for unforeseen global events, such as pandemics and natural disasters. The BRICS Contingent Reserve Arrangement (CRA), established in 2015, has already provided valuable financial assistance to member countries in times of economic stress..

India’s Leadership Role at BRICS Meeting

1. Championing Economic Cooperation: India’s leadership at the BRICS meeting has been pivotal in advocating for better economic cooperation, particularly in enhancing trade between BRICS members. India’s trade with other BRICS countries has grown significantly, reaching $100 billion in 2020.
2. Sustainability Advocate: India pushed for greater attention to sustainable development. As one of the largest polluters globally, India is committed to achieving net-zero emissions by 2070. India has also undertaken large-scale renewable energy projects, such as the International Solar Alliance (ISA).
3. Promoting Inclusivity: India highlighted the importance of an inclusive global order, emphasizing that developing nations must have more say in global decision-making. This is reflected in India’s consistent support for reforming the United Nations Security Council (UNSC).
4. Strengthening Global South Collaboration: India played a crucial role in enhancing ties between BRICS and other developing nations. India’s commitment to South-South cooperation is evident in its leadership of initiatives like the Indian Technical and Economic Cooperation (ITEC) program, which has benefited over 150 countries.
5. Countering Geopolitical Tensions: India used its leadership position to call for peaceful resolutions to conflicts, particularly in the Indo-Pacific region. India has long advocated for a “free, open, and inclusive Indo-Pacific” through regional dialogue mechanisms such as the Quad.
6. Innovation and Digital Economy: India emphasized the importance of technology and innovation in driving economic growth. The Digital India initiative, which aims to empower citizens through technology, was highlighted as a model for other BRICS countries.
7. Crisis Management: India called for stronger collective action in times of crises. Its role in providing COVID-19 vaccines globally through the “Vaccine Maitri” initiative was particularly highlighted during the BRICS meeting

Global Climate Governance & BRICS Role

1. Collective Climate Action: The BRICS nations, accounting for over 40% of global carbon emissions, acknowledged their shared responsibility in combating climate change. Their collective efforts are crucial in achieving global climate goals such as those set under the Paris Agreement.
2. Investment in Green Technologies: The BRICS countries agreed to boost investments in clean energy and green technologies. China’s leadership in solar energy production and Brazil’s vast hydroelectric potential were cited as important examples of the group’s efforts to transition to greener energy systems.
3. Sustainable Development Goals (SDGs): BRICS reaffirmed its commitment to the UN’s SDGs, particularly Goal 13 on climate action. They have pledged to integrate climate change mitigation into their national development plans and policies.
4. Climate Financing: The New Development Bank (NDB), established by BRICS, plays a key role in climate financing. In 2021, the NDB announced its intention to provide $5 billion in funding for renewable energy projects across BRICS countries and other developing nations.
5. Support for Developing Countries: BRICS countries have committed to supporting climate adaptation and mitigation in the Global South, where the impact of climate change is most severe. The NDB has already provided significant loans to projects aimed at enhancing climate resilience in Africa and Latin America.
6. Regional Climate Initiatives: The BRICS nations have promoted regional cooperation to address climate impacts. For example, India and South Africa have collaborated on water management projects to combat droughts and floods in their respective regions.
7. Policy Alignment: BRICS leaders agreed to align their national climate policies with international frameworks, such as the Paris Agreement, to ensure coordinated action and maximize the impact of their efforts.

Challenges to Mitigate Global Warming

1. Resource Constraints: Many BRICS countries face budget constraints, limiting their ability to invest in large-scale climate projects. For example, Brazil has struggled to balance deforestation efforts with the economic needs of its agribusiness sector.
2. Political Will: Political instability in some BRICS countries, such as Brazil’s fluctuating stance on environmental policies, makes it difficult to implement long-term climate strategies.
3. Balancing Economic Growth and Sustainability: The need for rapid economic growth in many BRICS nations often conflicts with the long-term goals of environmental sustainability. For instance, China’s reliance on coal for energy production poses a challenge in meeting carbon reduction targets.
4. Climate Adaptation Needs: The BRICS nations, especially those in Africa and South Asia, face significant challenges in adapting to the impacts of climate change. Rising sea levels in Bangladesh and extreme weather events in South Africa are just some examples.
5. Global Cooperation: Despite the best efforts of BRICS, global cooperation on climate change remains fragmented. The reluctance of some developed nations to commit to climate financing is a major hurdle.
6. Technological Gaps: While BRICS countries are making strides in green technologies, there are still significant gaps in areas like energy storage, carbon capture, and low-carbon manufacturing processes.
7. Short-term vs Long-term Goals: Many BRICS nations prioritize short-term development goals over long-term climate objectives, leading to delays in the implementation of critical climate action plans.

Way Forward

1. Strengthen Green Financing:  BRICS should increase green investments, particularly through the New Development Bank (NDB). In 2020, the NDB issued its first green bond, raising $1.25 billion for clean energy projects.
2. Increase Technological Cooperation: By fostering greater technological collaboration, BRICS can bridge the gap in clean technologies and scale up renewable energy projects.
3. Enhanced Global Dialogue: BRICS should continue advocating for the inclusion of the Global South in global climate negotiations to ensure that the needs of developing nations are met.
4. Local Action and Policy Implementation: BRICS countries must implement more stringent climate policies at the national level, such as carbon taxes, to incentivize green innovation and reduce emissions.
5. Public Awareness and Education: Promoting sustainability and climate action at the grassroots level through public education campaigns will be essential to achieving long-term climate goals.
6. Regional Cooperation: BRICS must enhance regional cooperation, particularly in climate adaptation, by sharing knowledge and resources on mitigating climate risks in vulnerable areas.
7. Promote Circular Economy: A shift towards a circular economy, which prioritizes reducing waste and reusing materials, can significantly contribute to climate mitigation. BRICS nations should champion this approach in their industrial sectors.

Conclusion

The BRICS nations hold a crucial role in global governance, particularly in addressing global challenges like climate change. Through cooperative efforts, the BRICS bloc has the potential to drive meaningful progress in sustainable development, green energy transitions, and climate action. However, this requires enhanced financial commitment, stronger multilateral collaboration, and the fulfillment of existing climate financing promises, particularly by developed nations. The group’s shared responsibility in tackling environmental issues like desertification, biodiversity loss, and pollution can pave the way for innovative solutions and collective action. Ultimately, BRICS has the opportunity to lead the way in forging a resilient, sustainable, and equitable global future

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