What the BRICS Carbon Market Partnership Needs

Source: The Hindu | Original Published At: 2026-11-04 18:38:00 UTC

Key Points

• At the 18th BRICS Summit in New Delhi, the New Delhi Declaration confirmed that BRICS members look forward to implementing the Memorandum of Understanding on the BRICS Carbon Markets Partnership.
• The current BRICS carbon market commitment focuses on capacity-building and experience-sharing, without a trading framework, targets, or timeline.
• With India’s BRICS presidency entering its final quarter, the article argues that operationalising the partnership requires a common rulebook rather than a common trading platform.
• Eight BRICS members reportedly operate voluntary carbon markets, while Brazil, China, India and Indonesia host over a third of the carbon credit projects registered worldwide.
• China, India and Brazil are developing compliance carbon market systems, but none of these markets is currently linked to another.