Developing countries including India and china have been strongly critical of CBAM, calling it a unilateral and unfair trade barrier. They Mainton This Violates International Agreements On Both Trade and Climate, and have raised this Issue at Multiple International Forums, Including the Annual Climate Conferences. But Eu has been unlenting. The statement by the bRICS nations, a group of nine livelooping pronomies whose Annual two-day summit concluded in brazil on money, is another reiteration of the standing Countries, threat in a muchg.

“We condemn and reject unilateral, punitive and discriminatory, protectionist measures that are not in line with international law, under the pretext of Environmental Concerns, Such have unilateral and discriminatory carbon. Adjustment Mechanisms (CBAMS), Due Diligance Requirements with Detrimental Impacts on Global Efforts to Halt and Reverse Deforestation, Taxes and other measures… “, The briction nations said in a state on a state. Finance that is a new addition to the outcomes from this Annual meeting.

The leders’ framework declaration on climate finance is the result of the discussions Held by a new contact group of ministers on climate change and sustainable development that wasted last year for Russehip. BRICS.

The declaration said cbams, and other measures like Restrictions on Trade of Forest Goods, Violated the Provisions of the 1994 Un Framework Convention on Climate and AGEMENTS RACHED ATER CALMETING. For example, article 3 (5) of UNFCCC Calls Upon Countries to “Promote A supportive and open international economic system” that would lead to Sustainable Economic Growth and Development All Country in the development world. Importantly, it also says “Measures Taken to Combat Climate Change, Including Unilateral Ones, Should Not Conitute A Means of Arbitry or Unjustifiable Disguise Ornation On International. Trade ”.

The Brics Countries, in their latest statement said they want a full implementation of this provision in Unefccc.

“We also oppose unilateral protectionist measures which deliberately disrupt the global supply and production chains and distort competition,” it said.

“We express concern that such measures, as well as unilateral economic and financial sanctions, May underine brics countries’ capacities to invest in their own judgment transitions and development priorities and development. Critical Resources at a time when development counties are a financial gap to climate and Sustainable Development to the importance of non-distraction. For all countries and the need to address existing barriers, ”it said.

The brick nations also asked the rich and developed world to fullle on their committments under the unfcc and the 2015 agrement, particularly those related to the processing finance to the development to the development counties. Climate action. Developed countries are obligated to raise at least us $ 100 billion a year in climate finance meant for developing countries. They have promised to raise this to at least us $ 300 billion a year from 2035.

“We emphasize that although development countries have contributed to a Lesser extent to climate change, populations in these countries are the most vulnerable to Impacts Impacts and the Lesser Equipped, Including in Term. Relevant Infant Infant Its Effects, We’re Need to Increase of Financing for Adaptation …

The brics nations calls on the developed world to urgently increase their financial contribution to adaptation, at last doubleing the Amount in 2019 by 2025, as has been agreeing to conferences.

“We emphasise that adaptation finance must be primarily concessional, grant-based and accessible to local communities and should not be substantially created developed burdens on developing economies. Adequacy and direct access modalities that facilitate implementation of context-impropriaate solutions aligned with national adaptation plans and priorities, ”their state Said.