This article is from Contemporary China and World (Chinese Edition), 2022, no. 1.
BRICS Energy Cooperation and Global Energy Governance
MaTao ChenXi
Abstract: Energy is one of the important areas where the BRICS countries can work together to achieve practical results. Multilateral strategic cooperation on energy governance policy among the BRICS countries has assumed increasing urgency, with their collective share in the global energy market - and hence their importance - rising. Cooperation has thus far been mostly bilateral. Meanwhile, the BRICS countries are paying more and more attention to promoting low-carbon economy and sustainable development. Challenges abound, not the least the need to address the inadequacies in the existing global energy governance structure, not sufficiently responsive to their development needs, to navigate disagreements with developed countries over issues concerning carbon emissions, and to deal with the pressure of rising financial risks on energy governance. This calls for a coordinated response and a multilateral strategy on energy security, scientific and technological cooperation, and financial and legal issues. Active participation by the BRICS countries in the development of new global energy governance rules is also essential. Strengthened multilateral cooperation among the BRICS countries and their participation in global energy governance will bring more development opportunities to all countries.
Keywords: BRICS, energy cooperation, energy governance, challenge, strategy
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