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The 2024 BRICS Summit is expected to focus on integrating new members and defining the role of 'partner countries' rather than further expansion. Key economic goals include increasing trade in local currencies to reduce dollar reliance and streamlining payments via the BRICS Cross-Border Payments Initiative. The document highlights opportunities for coordination between BRICS, the G20, and the G7, particularly with Brazil and South Africa holding leadership roles in 2025. On climate, BRICS is expected to reaffirm support for the Paris Agreement and a just transition that allows for the continued use of fossil fuels for energy security, while potentially introducing a new framework for sustainable development and carbon market projects.

The document argues that a prolonged conflict between Russia and Ukraine increases the risk of nuclear and conventional escalation, necessitating flexible, region-specific arms control mechanisms. It identifies critical risks—including the security of the Zaporizhzhia Nuclear Power Plant, potential Russian nuclear testing, and the deployment of nuclear weapons in Belarus—as catalysts for urgent multilateral risk reduction. The authors suggest that provisional 'inter-bellum' frameworks, such as no-fly zones in Eastern Europe or naval limits in the Black Sea, could eventually evolve into permanent treaties following a decisive Ukrainian victory.

The Russian coal sector provides a negligible contribution to the national GDP but remains politically significant due to regional employment and historical stability concerns. While the Russian government continues to anticipate growth in coal exports, particularly to Asia, the report argues that this is unrealistic given the global low-carbon transition, the obsolescence of Russia's coal-fired power fleet, and the increasing competitiveness of renewable energy. The document highlights that the sector is heavily reliant on indirect government subsidies, such as reduced rail tariffs. It proposes a three-part just transition framework consisting of social re-employment programmes, regional economic diversification (especially in the Kuzbass region), and the implementation of a domestic carbon price to internalize environmental costs.