New Delhi: Amid disruptions to global energy supplies, Brics leaders have called for uninterrupted flows of energy from diverse sources and stronger protection of critical energy infrastructure, including cross-border infrastructure, while stressing the continuing role of fossil fuels in the global energy mix.They also called for greater cooperation on smart grids, energy storage and critical minerals, recognising their growing importance to energy security and the transition to cleaner energy.The emphasis comes at a time of heightened risks to major global energy supply routes, with disruptions around Strait of Hormuz and possible disruption of another key route, Bab el-Mandeb, by Iran-backed Houthis, affecting oil and gas flows and raising concerns over energy security and prices.Brics leaders said energy security was a “crucial foundation for social and economic development, national security and the welfare of all nations” and called for greater stability in energy markets.“We highlight the need to enhance energy security by ensuring energy market stability and maintaining undisrupted flows of energy from diverse sources,” the declaration said. It also stressed the need to “maintain smooth flow of global trade, supply chains and energy, in accordance with applicable international law”.Brics also recognised the continuing role of hydrocarbons, saying “fossil fuels will still play an important role in the world’s energy mix, particularly for emerging markets and developing economies”, while stressing the need to reduce greenhouse gas emissions in line with climate goals.
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The declaration also recognised the role of renewables, fossil fuels, nuclear, hydropower, hydrogen, low-carbon technologies and energy storage in ensuring energy security and sustainable development.Brics countries backed greater cooperation on smart grids and energy storage to modernise power systems and integrate more renewable energy, while highlighting the role of AI and data analytics in improving grid management and efficiency. The declaration also welcomed the “Brics Guiding Principles on Smart Grids and Energy Storage” and India’s initiative to set up a digital centre of excellence in the area.The bloc also stressed the need for reliable, diversified and resilient critical mineral supply chains, recognising their role in zero- and low-emission energy technologies and energy security. It said resource-rich countries should retain sovereign rights over their mineral resources and the ability to adopt measures needed to pursue legitimate public policy objectives.
