BRIC nations have called the EU’s Carbon Pricing Schemes “discriminatory”, aligning themselves with India who took a stand against the carbon tax. These nations – Brazil, Russia, China and South Africa – have released statements opposing the EU’s plans to stand with India.
The EU’s plan would tax foreign carbon imports as if they were made in the EU. As a result, this would massively restrict world trade, especially from nations with less carbon legislation.
BRIC nations have opposed the EU’s plan, but are working on the reduction of emissions jointly. As well as working on carbon emissions, BRIC nations are also looking at water and air pollution in urban areas.
The major climate change conference, COP26, is coming up in November. This conference provides a massive opportunity for BRIC nations to make their ideas heard and possibly affect future carbon legislation. As well, legislation could be introduced to reduce air and water pollution in addition to biodiversity loss.
BRIC nations realize that climate change is an urgent matter. India’s environment minster Bhupender Yadav outlined the impending danger of climate change saying the world faces a “now or never” situation. The recent IPCC report has provided the BRIC nations a reason to act. Collective global actions will need to be taken to stop climate change.