| By Jianlu Bi |

The recent BRICS Summit in Rio de Janeiro, marked by the “Joint Declaration of the 17th BRICS Summit” and its 126 commitments, firmly established the bloc as a leader in global governance reform. This historic agreement, covering finance, health, AI, and climate change, reflects deep coordination and a vision for a fairer international order. BRICS’s commitment to multilateralism, defending international law, and championing increased participation of developing countries is crucial given current geopolitical tensions, economic shifts, and unilateral actions.

Redefining Global Power Dynamics

The BRICS expanded mechanism, now comprising 11 member nations and 10 partner countries, commands immense demographic and economic weight. Representing over 40% of the world’s population and accounting for approximately 40% of global GDP, BRICS’s collective voice is becoming increasingly influential. This substantial footprint underscores the bloc’s potential to drive positive change and challenge existing power imbalances.

The summit’s declaration explicitly calls for the increased participation of developing countries, especially those in Africa, Latin America, and the Caribbean, in global decision-making processes. This is a direct challenge to the historical dominance of Western nations in international institutions. The emphasis on multipolarity is key, as BRICS believes it creates opportunities for developing countries and emerging markets to realize their constructive potential and benefit from inclusive economic globalization. This perspective directly contrasts with the “zero-sum game” mentality often perceived in traditional global governance structures.

A Comprehensive Agenda for Change

The Summit was not merely about grand statements; it produced concrete commitments across a diverse range of strategic areas, showcasing a comprehensive approach to global challenges.

In the financial realm, BRICS underscored the urgent need to increase the IMF quotas and World Bank shareholding of emerging and developing countries. This move aims to ensure that these crucial global financial institutions truly reflect the relative positions of countries in the global economy, rather than maintaining an outdated power structure. This direct call for IMF quota realignment to benefit developing countries demonstrates BRICS’s determination to reform global financial governance.

Health emerged as another priority, with the bloc acknowledging the interconnectedness of global health challenges. The launch of the Partnership for the Elimination of Socially Determined Diseases is a significant step, signaling BRICS’s commitment to addressing the root causes of health disparities, such as poverty and social exclusion, and promoting health equity on a global scale. This initiative underscores a proactive approach to global public health, ensuring no country is left behind in achieving health-related Sustainable Development Goals.

For the first time, AI governance featured prominently on the BRICS agenda, reflecting a shared Global South perspective on this transformative technology. The leaders recognized AI’s potential for progress but stressed the need for global AI governance to mitigate risks and meet the needs of all countries, particularly those in the Global South. The call for a “collective global effort” to establish AI governance that upholds shared values, builds trust, and ensures broad and inclusive international collaboration and access is a testament to BRICS’s forward-thinking approach to emerging technologies.

On climate change, the summit delivered a clear message ahead of COP30, to be held under Brazilian leadership. The recognition of the Tropical Forest Forever Fund (TFFF) as an innovative financing mechanism for tropical forest conservation and the charting of a Climate Framework Declaration for the next five years highlight BRICS’s collective resolve to mobilize resources for climate action. This proactive stance aims to strengthen their capacity to combat the climate crisis while promoting stronger and fairer economies.

Advocating for Peace and Stability

Beyond specific sectoral reforms, a core pillar of the Rio Declaration is its strong commitment to peace, security, and international stability. The leaders expressed deep concern over ongoing conflicts, the rising trend of global military expenditures at the expense of development financing, and the current international order’s polarization. They advocated for a multilateral approach that respects diverse national perspectives, emphasizing sustainable development, hunger and poverty eradication, and global climate action over attempts to link security with the climate agenda.

Notably, the BRICS declaration took firm positions on key global conflicts, condemning the recent US and Israeli bombardments of Iran as a “blatant breach of international law” and voicing strong support for the creation of a Palestinian state. This stance underscores BRICS’s willingness to speak out against actions that undermine international law and human rights, even when it involves powerful nations.

Furthermore, BRICS voiced serious concerns about the rise of unilateral tariff and non-tariff measures, deeming them distortive to trade and inconsistent with WTO rules. This direct, albeit indirect, critique of protectionist policies, particularly those threatened by figures like President Donald Trump, demonstrates BRICS’s commitment to upholding the multilateral trading system.

The 17th BRICS Summit was held under complex circumstances, including intensified US pressure on the mechanism. Yet, its successful convening and the achievement of pragmatic outcomes underscore its growing resilience and pivotal role in shaping global development. The summit’s adoption of a simplified, efficient, and practical approach, focusing on key priority areas, ensured tangible results. By reaffirming the “BRICS spirit” of mutual respect, sovereign equality, solidarity, democracy, openness, inclusion, collaboration, and consensus, the bloc has solidified the foundation for future cooperation within its expanded framework.

As BRICS continues to expand and deepen its cooperation across political, economic, financial, cultural, and people-to-people spheres, it is increasingly demonstrating its capacity to lead the Global South. The establishment of initiatives like the China-BRICS New Quality Productive Forces Research Center and the BRICS New Industry Golden Egret Excellence Scholarships further exemplify the bloc’s commitment to talent cultivation and innovation-driven development.

The Rio Declaration is more than just a document; it is a roadmap for a more just, equitable, efficient, and well-ordered global governance system. By upholding independence, demonstrating a sense of responsibility, and building consensus, BRICS is indeed striving to be the pioneering force in advancing global governance reform, working towards a better world for all.

Jianlu Bi is a Beijing-based award-winning journalist and current affairs commentator. His research interests include international politics and communications. He holds a doctoral degree in communication studies and a master’s degree in international studies. He also writes for the SCMP, Foreign Policy In Focus, TRT World, Eurasia Review, International Policy Digest, IOL, the Citizen and others.