For years, the global energy transition has often been framed as a race to replace one set of fuels with another. The BRICS New Delhi Declaration offers a more grounded proposition: for developing economies, sustainability cannot be separated from affordability, energy security or economic development. That is an important shift, and one that could make BRICS a consequential platform for shaping the next phase of the global energy transition.
The declaration recognises a reality that climate debates sometimes underplay. Emerging economies need cleaner energy systems, but they also need reliable power, stable fuel supplies and enough energy to support industrialisation, jobs and rising living standards. By reaffirming universal access to affordable, reliable, sustainable and modern energy while calling for a just and inclusive transition, BRICS has placed development at the centre of its climate strategy.
This is not an argument for slowing decarbonisation. It is an argument for making decarbonisation durable. A transition that raises energy costs sharply, leaves grids vulnerable or depends excessively on concentrated supply chains will struggle to retain political and public support. The declaration’s emphasis on stable energy markets, diversified sources and resilient critical infrastructure therefore deserves attention. Sustainability is ultimately not only about how energy is produced, but also whether the system can withstand geopolitical shocks, supply disruptions and sudden swings in demand.
The most important test, however, will be finance. BRICS has correctly identified access to affordable capital as one of the central constraints facing developing economies. Renewable generation, storage, transmission networks, cleaner fuels and new industrial technologies all require large upfront investments. Yet the cost of capital is often significantly higher in emerging markets than in advanced economies. The declaration’s call for predictable, accessible, low-cost and concessional finance must now move from diplomatic language to investable projects. Without cheaper capital, a just transition will remain more aspiration than strategy.
BRICS also has an opportunity to reshape clean-energy supply chains. The declaration gives critical minerals a prominent place, recognising their importance for low- and zero-emission technologies and calling for reliable, diversified and sustainable supply chains. This matters because the energy transition cannot simply replace dependence on imported fossil fuels with dependence on a narrow set of mineral suppliers, processing centres or technologies. Resource-rich developing countries must also capture more value through processing, manufacturing and downstream industries rather than remaining exporters of raw materials.
For India, this approach fits an increasingly complex energy challenge. The country must expand clean power rapidly while preserving affordability and reliability for households and industry. That means the transition cannot be built around renewable capacity alone. Storage, stronger grids, flexible generation, transmission, sustainable fuels, energy efficiency and new technologies will all have to advance together. The BRICS emphasis on technological neutrality provides space for countries to choose different combinations according to their resources and development needs rather than follow a single prescribed pathway.
The declaration’s recognition that fossil fuels will continue to play a role, particularly in emerging and developing economies, will attract criticism. But the more useful question is what happens alongside that continued use. If fossil-fuel dependence becomes an excuse to delay investment in cleaner systems, BRICS will weaken its sustainability credentials. If, instead, countries use the transition period to scale renewables, storage, cleaner fuels, grids and lower-emission technologies while steadily reducing the carbon intensity of growth, the approach could prove more realistic and politically sustainable.
