The BRICS Power Play: Competing Interests in Global Energy Governance

The document argues that the energy transition within the expanded BRICS bloc is a contest of power between incumbent fossil-industrial interests and emerging green regimes. It identifies a 'grey space' of hybrid compromise where ambitious climate rhetoric masks continued fossil fuel expansion. To navigate this, the authors introduce the BRICS Climate and Energy Compass and a strategic action plan focusing on financial architecture reform, investment in hard-to-abate sectors, and the localisation of climate finance.

• The expanded BRICS bloc, consisting of 10 members, is a critical arena for global climate politics, accounting for over 42% of global greenhouse gas emissions, 50% of the world's population, and approximately 43.6% of global oil production.
• The energy transition in BRICS is characterized by a 'grey space' of hybrid compromise, where ambitious climate goals are stated in Nationally Determined Contributions (NDCs) but are contradicted by continued fossil fuel investment and the rebranding of conventional lending as transition finance.
• BRICS members are divided into five functional actor groups with conflicting postures: the 'structural pivot' (China), 'normative entrepreneurs' (South Africa, Brazil), 'swing states' (India, Indonesia), 'incumbent guardians' (Russia, Iran, UAE), and 'adaptation-centred members' (Egypt, Ethiopia).
• There is a significant gap in governance and ownership models that determine whether green innovations displace or are absorbed by the incumbent fossil-industrial complex. Six high-potential niches identified include community-owned renewables, green hydrogen industrialisation, critical minerals beneficiation, transition finance mechanisms, indigenous knowledge, and BRICS financial architecture reform.
• The 2026 Iran conflict and the closure of the Strait of Hormuz, which disrupted about 25% of seaborne oil trade, have increased incentives for importers like China and India to accelerate domestic renewable buildout to reduce hydrocarbon dependence.
• The document proposes three strategic financial priorities: systemic reform of global and internal BRICS financial architecture (including the New Development Bank), catalysing investment in hard-to-abate sectors like steel and cement, and localising climate finance to build sub-national capacity.

APA

CLOETE, D., JENTEL, L., MWAGIRU, N., & BENKENSTEIN, A. (2026). The BRICS Power Play: Competing Interests in Global Energy Governance. South African Institute of International Affairs. https://saiia.org.za/wp-content/uploads/2026/05/SAIIA_PI_174_BRICSPowerPlay-002.pdf

Chicago

CLOETE, DEON, LETITIA JENTEL, NJERI MWAGIRU, and ALEX BENKENSTEIN. The BRICS Power Play: Competing Interests in Global Energy Governance. South African Institute of International Affairs, 2026. https://saiia.org.za/wp-content/uploads/2026/05/SAIIA_PI_174_BRICSPowerPlay-002.pdf.

Wikipedia

{{cite report |last1=CLOETE |first1=DEON |last2=JENTEL |first2=LETITIA |last3=MWAGIRU |first3=NJERI |last4=BENKENSTEIN |first4=ALEX |title=The BRICS Power Play: Competing Interests in Global Energy Governance |publisher=South African Institute of International Affairs |date=May 2026 |url=https://saiia.org.za/wp-content/uploads/2026/05/SAIIA_PI_174_BRICSPowerPlay-002.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{cloete2026brics, author = {CLOETE, DEON and JENTEL, LETITIA and MWAGIRU, NJERI and BENKENSTEIN, ALEX}, title = {{The BRICS Power Play: Competing Interests in Global Energy Governance}}, institution = {South African Institute of International Affairs}, year = {2026}, month = may, url = {https://saiia.org.za/wp-content/uploads/2026/05/SAIIA_PI_174_BRICSPowerPlay-002.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }