🧃 BRICS Steps Up: The Power of Friendship

Welcome to The Strawman, the daily climate newsletter that's trying to bridge more gaps than a friendship bracelet at summer camp. Today, we're diving into how BRICS is stepping into the climate leadership vacuum—though the road ahead is anything but smooth.

The New Climate Contenders

With the US pulling back from climate leadership, BRICS nations are looking to fill the void. They made a bold move at the COP16 talks in Rome last month, proposing a draft text that unlocked billions in funding to protect ecosystems. This success has positioned BRICS as potential "bridge builders" between the Global South and a rising tide of right-wing governments in countries like the US, Italy, and Argentina.

But ambition alone won’t cut it. South Africa, holding the G20 presidency, and Brazil, gearing up to host COP30, are keen to show BRICS can lead. The question is whether the group can move from symbolic victories to sustained leadership in global climate negotiations.

Money Talks, Divides Walk

Despite their recent win, BRICS nations are grappling with internal rifts—especially over who pays for climate action. The group is resisting pressure from developed nations to share more financial responsibility, a stance that's likely to cause friction in upcoming climate and development finance talks.

In 2022, nearly three-quarters of biodiversity funding came from just five sources: the EU, France, Germany, Japan, and the US. BRICS countries, with their growing economies, have largely stayed on the sidelines when it comes to footing the bill. But this position may be hard to defend as they push for a greater say in global climate funding mechanisms.

Bridging the Global Gap

Beyond finance, divergent national interests could derail BRICS' climate ambitions. Russia, still reliant on fossil fuel exports, isn’t exactly eager to speed up decarbonisation. Brazil, on the other hand, is championing faster climate action as it prepares to host COP30. It's a classic case of “same table, different menus.”

Key moments are on the horizon. A meeting in Bonn this June will test whether BRICS can present a united front. Plus, the upcoming Financing for Development conference in Spain could shape the group's influence over global financial systems.

Short-term, BRICS is pushing for more sway over the Global Environment Facility, which channels much of the world's biodiversity finance. Yet, as developing countries cut spending and up their defence budgets, the struggle over who pays for environmental protection will only intensify.

Takeaway

BRICS wants to be the climate leader the world needs, but overcoming deep divides on finance and politics is a tough ask. If they can align, they could reshape global climate talks—but for now, it's a high-stakes balancing act.