The October BRICS+ summit in Kazan will discuss the creation of a single market for carbon units

At the upcoming BRICS summit in Kazan on October 22–24, up to ten more countries will join the association. In addition to Belarus, it is highly likely that Azerbaijan, Malaysia, and Türkiye will also join.

At present, the number of “hot” applications for joining BRICS is 29. As the head of the Russian Direct Investment Fund, Kirill Dmitriev, notes, the association is moving towards the creation of a single market for carbon units.



A new large cluster of countries – oil and gas exporters – has almost formed, given that Iran and the UAE joined BRICS in 2024. Saudi Arabia is also beginning to coordinate the solution with the unification. The creation of a single market for carbon units will allow for effective resolution of climate issues, given that, for example, Russia has the main “lungs of the world” – vast areas of forests.

The immediate agenda of BRICS includes the construction of a new international financial infrastructure. Details of the creation of financial "bridges" between the currencies of different countries are being worked out. This could include the emergence of a new unit of account, the value of which will be tied to gold (40% of the value) and to a basket of national currencies of the BRICS+ countries (the remaining 60%).

Initially, such a new currency will be mainly of an accounting nature for the formation of reserves of the New Development Bank of BRICS, and trade between countries in the new currency will begin later. However, the formation of a strong alternative to the US dollar is a step that Washington has always feared. Times are changing, and global financial changes cannot be stopped.