BRICS Nations Unite to Accelerate Global Green Transition Amid Challenges

BEIJING: The BRICS countries are intensifying their collective efforts to combat climate change, leveraging their expanded membership to enhance contributions to the global green transition. This initiative is particularly crucial in the realms of climate finance and technology, where BRICS nations possess significant capabilities.

Recent international developments have underscored the importance of BRICS cooperation. The OECD reports that U.S. aid cuts led to the largest decline in foreign aid on record in 2025, coinciding with a slowdown in global climate finance. Additionally, in June, the World Bank abandoned its target of ensuring that 45% of its financing yields climate co-benefits, a decision widely attributed to U.S. influence.

This context highlights the necessity for practical South-South cooperation in global green finance and technology. The New Development Bank (NDB), established by BRICS, serves as a vital institutional framework for mobilizing resources, boasting a robust pipeline of projects. The NDB was conceived during the negotiations of the Paris Agreement and became fully operational in 2016, the same year the agreement took effect, marking a significant milestone in international climate finance.

Looking ahead, BRICS nations are expected to convene for further discussions on enhancing their collaborative efforts in green finance and technology. This cooperation is essential not only for addressing climate challenges but also for fostering economic resilience among member states.