BRICS reaffirm cooperation on carbon markets and reject carbon border adjustment mechanisms (CBAMs)

At the 18^th BRICS Summit in New Delhi on 12 September 2026, the ten member states agreed to strengthen collaboration on carbon markets while restating their rejection of carbon border adjustment mechanisms (CBAMs).

The New Delhi Declaration points to progress on a BRICS Carbon Markets Partnership, a cooperative mechanism intended to back members' domestic climate strategies, support their mitigation work and help unlock funding. The declaration also opens a new dialogue aimed at linking carbon markets to climate adaptation, an area that has traditionally sat outside emissions-focused carbon market discussions.

On trade, the declaration reiterates a position BRICS had already sharpened earlier in the year at the bloc's Environment Ministers' meeting, that carbon border measures imposed…