Pressuring richer countries to increase investments in funds for low income ones to combat climate change is a key priority for the Brazilian presidency of BRICS, as the bloc’s foreign ministers met on April 28 and 29 in Rio de Janeiro.
As the host of the 30th United Nations Climate Change Conference in 2025 (COP30), Brazil aims to place climate change financing at the forefront of BRICS discussions.
One of the proposals is the establishment of the Tropical Forests Forever Fund (TFFF), designed to promote low-carbon economies. Wealthier nations, with a much longer history of pollution, would be expected to contribute more resources to sustain the fund.
Ambassador Mauricio Carvalho Lyrio, Secretary for Economic and Financial Affairs at the Ministry of Foreign Affairs and Brazil’s Sherpa to BRICS, said “We are currently negotiating a declaration for BRICS leaders on financing efforts to combat climate change.”
“We have discussed the TFFF, but the revision of the model, which allows some countries to formally fund the energy transition while others contribute voluntarily, is not on the agenda. This distinction is crucial. Brazil stands in solidarity with emerging countries, as the Paris Agreement requires wealthier nations—those historically responsible for the most pollution—to assume a financial obligation in the fight against climate change,” he added.
Source: Eurasian Review, Apr 29, 2025.
https://www.eurasiareview.com/29042025-tariffs-environmental-fund-on-agenda-of-brics-foreign-ministers/
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