From oil shocks to resilience: What BRICS’s new agenda needs to address

Source: The Hindu Business Line | Original Published At: 2026-09-29 02:00:00 UTC

Key Points

• The 18th BRICS Summit adopted the New Delhi Declaration, setting out positions on energy security, clean technology cooperation, and global governance reform.
• BRICS endorsed a photovoltaic Industry Working Group action plan, a Solar PV Cooperation Roadmap, smart grid and energy storage principles, and cooperation on low-emission hydrogen standards.
• BRICS fossil fuel importers faced substantial added costs after disruptions to energy flows through the Strait of Hormuz, with China and India accounting for large shares of the extra bill.
• BRICS renewable energy additions reached record levels, but new coal, oil, and gas capacity also increased, leaving the transition uneven.
• Grid bottlenecks and curtailment in India, Brazil, and China show that renewable capacity must be matched with transmission, storage, and market reforms.
• The article argues that BRICS energy security depends less on securing oil imports and more on reducing dependence on imported fossil fuels.