Institute for Economics of Natural Resources and Climate Change at the XIII Annual Conference on the World Economy

From 3 to 5 December 2025, the Faculty of World Economy and International Affairs at HSE University hosted the XIII Annual Conference on the World Economy, “BRICS and Rethinking the Global Economic Order”. Staff members of the Institute for Economics of Natural Resources and Climate Change at HSE University took part in the conference, presenting a number of academic papers.

© WE&IA

Igor Makarov, Director of the Institute for Economics of Natural Resources and Climate Change at HSE University, delivered a presentation at the session For a Common Goal: BRICS and a 'Just Green Transition'. In his remarks, he stressed that BRICS countries are well placed to play a leading role in shaping shared principles for a just energy transition, which could be formalised in a joint declaration. According to him, such a declaration could be based on seven key principles: aligning climate policy with other Sustainable Development Goals; technological neutrality; a balance between mitigation and adaptation measures; developing dialogue between exporters and importers of fossil fuels; strengthening dialogue between exporters and importers of carbon-intensive products; accounting for consumption-based emissions alongside production-based emissions; and prioritising emissions reductions in sectors where they are economically efficient.

Igor Makarov

WE&IA

Elizaveta Smolovik, Junior Research Fellow at the Laboratory for Climate Change Economics, presented a paper entitled Revising BRICS Countries’ National Contributions: Ambition and Prospects for Achieving the Sustainable Development Goals beyond 2030. Her presentation assessed the ambition of the Nationally Determined Contributions (NDCs) of BRICS countries under the Paris Agreement up to 2030 and 2035. Planned emissions reductions were compared across several base years, taking into account projected GDP and population growth rates. The IPAT model was used to evaluate ambition, allowing the analysis to determine whether additional reductions in GDP carbon intensity would be required to meet the stated targets. The paper concluded that the NDCs of many BRICS countries lack ambition and require revision.

Elizaveta Smolovik (at the centre)

WE&IA

Egor Muravev, Expert at the Laboratory for the Economics of Climate Change, presented a paper entitled Trade in Low-Carbon Technologies among BRICS Countries: Barriers and Paths to Liberalisation. His presentation outlined key trends in trade in low-carbon goods essential for reducing greenhouse gas emissions and identified factors constraining this trade. These include a sharp increase in trade barriers since 2015, as well as the more active use of green industrial policy instruments, including localisation requirements. This trend is also evident in trade among BRICS countries. The closure of markets in developed economies—traditionally the main export destinations for BRICS countries—has forced exporters to seek alternative markets in developing and least developed economies, where markets are also becoming increasingly competitive and protected. Taken together, these factors raise the costs of the energy transition and slow the reduction of greenhouse gas emissions.

Egor Muravev (second on the left)

WE&IA

More detailed information, including the conference programme and speakers’ presentations, is available on the Conference webpage via the link.