BRICS Summit ends with an invitation to finance climate mitigating

The leaders of the BRICS team of developing nations completed their Summit in Rio de Janeiro on Monday, asking rich countries to take responsibility for funding climate mitigation efforts in the world.

In his initial observations, Brazilian President Luiz Inácio Lula da Silva, who will host the United Nations Summit for Climate in November, condemned the refusal of climate change and unilaterally, indirectly criticizing the previous US President Donald’s previous decision.

“Today, denial and unilateral disagreement eroded past achievements and harm our future,” Lula said. “The world south is able to lead a new model of growth without repeating the mistakes of the past.”

On Sunday, Trump responded to criticism BRICS accusing the block of “anti-American policies” and threatening its members with an additional 10%invoice. BRICS leaders rejected the comments and confirmed their commitment to a large world order.

In his address, Lula demanded a worldwide transition away from fossil fuels, the main drivers of climate change. However, a joint statement published by BRICS leaders acknowledged the continued importance of oil, especially for developing economies – highlighting internal divisions in the ever -increasing BRICS alliance.

“We live in a moment of many contradictions around the world.

The joint announcement stressed that climate funding is the responsibility of developed countries to develop them-a long-term position among emerging economies in global climate negotiations.

In addition, BRICS leaders expressed support for a new Brazilian initiative, Forever Facility Forests, a fund aimed at protecting threatened forests and offering an additional route for the development of spaces to contribute to the relief climate

China and the United Arab Emirates reported their intention to invest in the fund, according to two sources familiar with discussions held last week between their officials and Brazilian Finance Minister Fernando Haddad.

The BRICS statement also strongly criticized the recent European Union policies, such as carbon border taxes and disorientation regulations, pointing out “protective measures that introduce discrimination” disguised as environmental guarantees.