The world has witnessed how BRICS energy meetings have gathered remarkable momentum over the past year. Agreeing on a joint roadmap, a functioning ministerial process, coming to same page on smart grids and hydrogen value chains are all indicative of that positive progress we are making.

How do we concretise it in terms of meaningful cooperative action that leads to accelerates the energy transition, beyond joint communiqué, is the real question? One way of turning that momentum into something more concrete is a practical market cooperation approach. It means using the bloc’s combined weight in energy demand, production, manufacturing and resources to help shape markets that actually speed up the global transition.

If we think deeper, we will see that not many coalitions have this kind of scale across the whole energy system. Here, major oil, gas producers are at the same table as major importers, alongside the world’s largest clean-tech manufacturers.

Some of its fastest-growing clean-tech markets, and several members that are sitting on the critical material deposits that power prosperity growth and this transition runs on.