BRICS Climate Finance: A Five-Pillar Transformation

The BRICS initiative is aimed at reforming global climate finance. This initiative, detailed in a Technical Note prepared under Brazil's 2025 presidency, outlines a five-pillar framework to address challenges emerging economies face in accessing climate funding. The pillars propose reforming multilateral development banks, improving access to concessional finance, advancing country-led investment platforms, developing innovative private sector mobilisation strategies, and strengthening regulatory frameworks. The overarching goal is to mobilise at least USD 1.3 trillion annually by 2035 for developing nations, aligning with the Baku to Belém Roadmap and emphasising South-South cooperation in climate action.