BRICS urges wealthy nations to fund global climate transition

Leaders of the BRICS group of developing nations addressed the shared challenges of global warming on Monday, the final day of their summit in Rio de Janeiro, demanding that wealthy nations fund mitigation of greenhouse gas emissions in poorer nations.

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In his opening remarks, Brazilian President Luiz Inacio Lula da Silva, who will host the United Nations climate summit in November, also blasted denialism of the climate emergency, indirectly criticising US President Donald Trump's decision to pull his country out of the 2015 Paris Agreement.

"Today, denialism and unilateralism are eroding past achievements and harming our future," he said.

"The Global South is in a position to lead a new development paradigm without repeating the mistakes of the past."

Trump took issue on Sunday with veiled criticism from the BRICS group, accusing the bloc of having "anti-American policies" and threatening them with extra 108 tariffs.

However, according to a source familiar with the matter the Trump administration does not intend to immediately impose a new 108 tariff against members of the developing nation BRICS bloc, but will proceed if individual countries take so-called “anti-American” policy actions.

"A line is being drawn. If policy decisions are made that are anti-American, then the tariff will be charged," said the source, who requested anonymity because they are not authorized to speak on the matter.

BRICS members brushed off his accusation and reaffirmed their commitment to a multilateral world.