from Sputnik News:
The leaders of the BRICS nations addressed the 15th Summit on the second day of the event. What’s the essence of the leaders’ message?
The historic BRICS 2023 Summit has been taking place since August 22 in Johannesburg, South Africa, being seen as the largest-ever BRICS gathering in terms of foreign participants.
TRUTH LIVES on at https://sgtreport.tv/
As the second day of the event wraps up, Sputnik has summarized the main topics and pressing issues raised by the group leaders on Wednesday.
Cyril Ramaphosa: BRICS Increasing Use of Local Currencies
South African President Cyril Ramaphosa expressed concerns about the increasing weaponization of the global financial system and payment mechanisms for geopolitical purposes.
“We are concerned that global financial and payment systems are increasingly being used as instruments of geopolitical contestation. Global economic recovery relies on predictable global payment systems and the smooth operation of banking, supply chains, trade, tourism, as well as financial flows,” Ramaphosa said.
The South African president noted that BRICS leaders will continue to consider “practical measures” to facilitate trade and investment flows through “the increased use of the local currencies.”
Ramaphosa also singled out the climate change problem, stressing that the transition to clean energy must be fair and “it must be able to take into account the different circumstances that prevail in all countries.”
The South African leader’s remarks reflected the woes of the continent suffering from energy poverty and negative climate impact of high-polluting wealthy countries.
The Global South continues to reap the whirlwind of environmental disasters despite accounting for just a fraction of greenhouse emissions. At last year’s COP27 African leaders argued that they could use their rich gas deposits as a “transition fuel” and called upon industrialized states to fund the creation of gas and electricity infrastructure on the continent. However, at the time US President Joe Biden’s climate czar John Kerry said that the West opposes investments in long-term gas projects in Africa since they contradict the net-zero targets.
“In line with this objective, BRICS nations need to advance the interests of the Global South and call for industrialized countries to honor their commitments to support climate actions by developing economic progress. The commitments of support that have been made – that have not yet been lived up to – need to be followed through,” stated Ramaphosa.
He further lamented swirling conflicts across the world, which must be resolved through diplomacy, dialogue, negotiation and adherence to the principles of the United Nations, according to the South African president.
