BRICS States Collaborate with EU to Establish Carbon Pricing Measures

Another positive step towards a more balanced global order is being taken as BRICS countries team up with the European Union to advocate for the integration of national carbon markets worldwide. This initiative, known as the Open Coalition on Compliance Carbon Markets, aims to position carbon markets as key drivers for climate action and work towards the long-term interoperability of compliance carbon markets. The partnership between Brazil and the EU has already gained momentum with the support of Ursula von der Leyen, President of the European Commission, who emphasized the importance of carbon pricing in reducing greenhouse gas emissions. Both parties are committed to working together to establish a price on carbon and promote sustainable environmental practices.