联合国贸易发展委员会-金砖国家加强气候融资议程（英）-2025_35页_3mb

Summary of "A BRICS Agenda for Enhancing Climate Finance"

Core Content

This document outlines a comprehensive BRICS agenda aimed at enhancing climate finance for developing countries, emphasizing the need for a solidarity-driven, coordinated approach to address the current inadequacies in global climate funding. It highlights the growing strain on the global climate finance system, the limitations of private finance, and the challenges posed by declining development assistance and rising external debt. The report proposes a series of strategic actions to be led by BRICS countries, focusing on increasing the availability of climate finance, improving South-South coordination, building resilience to shocks, and advocating for broader global economic governance reforms.

Main Recommendations

1. Expand Affordable Climate Finance through BRICS Institutions

• Scale up the New Development Bank (NDB): Increase lending capacity, meet existing and raise new climate finance targets, and consider establishing a dedicated climate facility to support both mitigation and adaptation.
• Enhance credit enhancement and risk management: Introduce tools like a Guarantee Facility and expand the use of local currency lending to reduce financial costs.
• Strengthen BRICS-led public development banks: Align development models and policy frameworks with climate goals and improve the capacity of national institutions to deliver low-emission industrialization.
• Mobilize Sovereign Wealth Funds (SWFs): Use SWFs to support green transitions in BRICS and other developing countries through novel financing facilities, co-financing, and green technology development.

2. Strengthen South-South Coordination

• Create a BRICS Public Partnership Network: Facilitate collaboration among BRICS public development banks, climate finance institutions, and other entities in developing countries.
• Establish a BRICS Country Platforms Working Group: Support integrated, nationally-driven climate strategies and investment plans.
• Explore interoperability: Promote alignment of climate finance frameworks, taxonomies, carbon markets, and financial instruments across BRICS jurisdictions.
• Empower national and subnational development banks: Strengthen their capacity to serve as anchor institutions for implementation through technical assistance, concessional finance, and capacity building.

3. Build Resilience to Systemic Shocks

• Revitalize the Contingent Reserve Arrangement (CRA): Create a Rapid Crisis Response Facility for climate shocks, expand CRA membership, and remove its dependency on the IMF.
• Support shock-affected countries: Use NDB tools such as risk management, emergency support, debt suspension mechanisms, and reconstruction financing to assist vulnerable nations.

4. Advocate for Global Economic Governance Reform

• Align international financial institutions (IFIs) with climate, development, and social goals.
• Ensure the Global Financial Safety Net (GFSN) can meet the needs of developing countries.
• Support multilateral sovereign debt workouts: Help countries in debt distress achieve climate goals without being held back.
• Curbing illicit financial flows: Promote global efforts to redirect financial resources towards public goods and climate objectives.

Key Information

Global Climate Finance Status

• In 2022, global climate finance reached $1.46 trillion, far below the $7.4 trillion needed annually to meet Paris Agreement targets.
• The New Collective Quantified Goal (NCQG), agreed at COP29, aims for $300 billion per year from developed countries to developing countries by 2030, and $1.3 trillion by 2035.
• UNCTAD estimates that the NCQG target should be closer to $900 billion per year by 2025, and $1.46 trillion by 2030.

Challenges

• Private finance has not met expectations, with mobilized private finance representing only 19% of total climate finance from developed countries in 2022.
• ODA cuts have intensified financial strains on developing countries, with 14 of the 17 largest DAC donors reducing their budgets.
• Rising external debt and systemic uncertainty are crowding out financial flows to developing countries, reducing their capacity to invest in climate resilience.

BRICS Role

• BRICS countries are major players in climate finance, contributing significantly through domestic investments, bilateral support, and multilateral institutions.
• They are not legally bound by Article 9 of the Paris Agreement but are well-positioned to lead a more equitable and resilient climate finance system.

Strategic Pillars

1. Increase Climate Finance Availability: Through BRICS institutions like the NDB and SWFs.
2. Strengthen South-South Coordination: To overcome fragmentation and enhance effectiveness.
3. Build Resilience to Shocks: Using the CRA and NDB tools.
4. Advocate for Global Economic Governance Reform: To ensure a more just and inclusive financial system.

Conclusion

The BRICS agenda for climate finance is proposed as a transformative alternative to the current system, which has failed to deliver adequate and equitable support. By leveraging their collective strength and solidarity, BRICS countries can offer a more reliable and sustainable approach to climate financing, reducing dependence on Annex II countries and supporting the Global South in achieving its climate and development goals. This agenda is grounded in the principles of equity, CBDR-RC, and national sovereignty, aiming to create a more resilient and inclusive financial system for the future.