At their July 2025 summit, BRICS nations—Brazil, Russia, India, China, South Africa, and several new members—demanded that wealthy countries provide $1.3 trillion each year by 2035 to support climate action in developing economies.

They argue that richer nations, responsible for most historic emissions, should pay for climate solutions elsewhere. BRICS leaders want this money as grants or low-interest loans, not regular loans that add debt.

Their plan includes new funds for protecting forests and rejects trade barriers like carbon border taxes. Their development bank has already invested $40 billion in climate projects since 2023, but this is far below the huge target.

However, the global landscape has shifted. The United States, under President Trump, has dismissed large-scale climate finance as a “scam,” cut funding, left climate agreements, and threatened tariffs on countries that support BRICS’ climate positions.

The U.S. now puts its own economic interests first and refuses to pay for climate action abroad. Current projections show global climate finance will reach only about $300 billion a year by 2035, far short of the BRICS goal.

BRICS’ $1.3 Trillion Climate Request Shows Disconnect with New Global Reality. (Photo Internet reproduction)

Other developed countries have also pulled back, leaving BRICS’ demands with little support. The group’s call for more money and influence does not match the new reality, where the world’s biggest economies are unwilling to fund what they see as others’ responsibilities.

This standoff highlights a major shift in global priorities. BRICS wants more say over financial flows and climate rules, but the U.S. and others have moved on.

As the next climate summit approaches, the gap between BRICS’ demands and what developed countries will deliver has never been wider. The future of climate finance now depends on whether BRICS can adapt to this new global order.