What to Expect From the BRICS Summit in Brazil
... alternative fund through the BRICS New Development Bank; protecting the right to fossil fuels; criticizing EU carbon taxes as “neocolonialism,” and proposals for alternative carbon credit schemes (for example, through BRICS). Russia, Saudi Arabia, Iran, and China will insist on a gradual phasing out of oil and gas rather than strict bans. Brazil may emphasize the issue of compensation for Amazon conservation. There may be disputes between China and nations advocating for a rapid phase-out of coal, as well as between India and Arab states concerning the pace at which oil is relinquished,...