BRICS countries agree upon carbon markets partnership

MOSCOW, August 30. /TASS/. BRICS countries adopt the climate and sustainable development framework, the press service of the Russian Ministry of Economic Development said.
The document comprises all the main aspects of climate action – the fair transition, adaptation, carbon markets, finances, science, and business engagement.
The framework will enable BRICS countries to determine measures to counter the climate change without prejudice for economic well-being of countries, Minister Maxim Reshetnikov said.
“All the BRICS countries understand that developed nations must stop using unilateral measures of green protectionism. They hit the economy and trade chains of developing countries,” Reshetnikov said. “We urge developed countries to honor commitments undertaken on provision of climate financing to developing countries,” he noted.
The second document is the memorandum of understanding on BRICS partnership on carbon markets.
“BRICS countries will be able to discuss the whole range of issues related to trading in carbon units within the framework of the carbon markets partnership – approaches to infrastructure, methodologies, validation and verification procedures,” the minister added.