Abstract
The Climate finance flows is far short to achieve the Paris Agreement goals. Developing countries face many hurdles in addressing issues related to affordable and adequate climate finance. More often than not, the reasons are external debt paying capacity and economic volatility. The paper discusses how BRICS nations could offer an alternative to decrease reliance on policy shifts and finance of Annex II nations and augment the climate resilient growth by solidarity driven agenda.
This paper performs Institutional analysis, explores how BRICS can promote climate finance and reduce reliance on Annex II countries. Particular attention has been given by the authors to the role of BRICS-led institutions like New Development Bank, sovereign wealth fund and contingent fund along with advocacy for inclusive growth by voting for external debt restricting of developing economies to allow fiscal room for green investment. The paper advocates that BRICS nations has the potential solution for an equitable development of the Global South.
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.