BRICs: Changing Landscape of Global Energy Governance Reforms

  1. Abstract: BRICs are at infancy stage to took the stance and remained’ irresponsible stakeholders’. Therefore, the governance gap remains a moot point in the global energy politics.                             

    The bloc of emerging economies of BRICs has flaxen their muscle to take leadership of global energy policy. But the irony blurred the capacity to lead it against rivaling the economies and co-ordination of European countries
    with the US. However, this transition of international order is murky and casted doubts to grab opportunity and questions the global energy governance reforms. This question has impregnated with the accountability on major grounds and thus suspicious for practical implications.


    There are primarily two major reasons behind the curtain of ‘existing threat’ to contemporary international order, with reference to global energy governance leadership and proposition. The first reason in this regard is ‘global energy governance gap exists’. And the two key events allow all barrels of guns against the west to harmonize BRICs – though still in infancy stage to cater the needs of globe for peaceful transition. There is not deniable fact exists and questions the potential of china. Particularly, China joined hands with India, took challenges for ramification of energy woes to utilize energy efficiently with syndication to gas energy grid. This employed as an edge to savor the globe from the future dark periods without taking refugee from the OECD countries after the crisis of oil imports in 1990’s.  Another reason in this regard is redundancy of drive to take proactive role as well as capacity to develop energy architecture. BRICs are not immune from the vacuum of reforms and power to enforce the agenda rigorously.


    The mosaic of ‘global governance’ leader is opaque and intended to rely on the BRICs due to many rationales. Among the prominent one include the’ strengthening and synergizing cooperation’ among the BRICs countries. Brazil and Russia has been acting as the commodity exporter and India & china as the ‘commodity importer’ economies of the world. The significant event had observed in 2015, when the china for the first time overtakes the global leader – US, in the race of GDP.


    The plenty of events and their key positions allow the BRICs to hoist the flags of their country on the successful global strategic decision making institutions. BRIC initiated it journey in 2001 and within short span of time catalyze its agenda across the promising economies. An eye-opener event of ‘initiative to introduce AIIB, now renamed as new development bank (NDB) lauds the consensus among the group members co-operation to rival the IMF. Another prominent global interplay and felicitation of china to lead the G 20 group in the US with the assistance of India. However, these events did not clear the stance itself. Whether the BRICs will lead the doctrine for the expounded potential to reshape the international system or not? What are the apprehensions of bloc itself or communiqué it jointly or one country will extricate this condone of global energy governance agenda.

     
    The seismic shift in the energy landscape canvassed the problems associated with global energy governance. The interlude of problems to take the reform agenda by the BRICs casts shadow due to historical, political and economic distrusts on each other. Nevertheless, in current order interest meets expectations to chalk out difference and co-habitation. But, the political disputes were grim among china with Russia and India. Hence, future contours of global energy markets are being shaped in Asia and the Middle East. Analyst’s belief Brazil is set to become a major exporter of oil and is aspired to be the world’s sixth largest producer by 2035. This ignites contest and vie in the ideology of capitalisms between authoritarian and democratic capitalism. As a result to these controversies, china certainly strengthens the BRIC grouping and enhances its legitimacy as a global coalition.


    Overall, BRICs is losing relevance because the difference in their strategic interests is so great. Therefore, the BRICs have been able to force small changes as piecemeal in the existing order. However, the abyss of lacking has the skill of leadership as bloc- BRICs to drive fundamental reform.
    This left regional countries in despondent due to failure to brace up differences. Another, stakeholder can explicitly drive the global energy governance agenda as its own, the only ‘China’ the economic giant. This attracts new dimension of the stance for not favoring and staging the role owing to ‘unwillingness’ to take on the responsibilities of participating in the existing international orders. Rather than investing on the energy infrastructure for globe, china is only interested to clamor for greater global influence rather than partaking steps to drive the reforms. For this objective, it founded SCO in 2001, whose members include Russia and Kazakhstan – the energy rich regions of the world.


    Lastly, none of the BRICs countries are members of the most prominent international energy institution, the IEA. Hence, in the viewpoints of scholars, BRICs are at infancy stage to took the stance and remained’ irresponsible stakeholders’. Therefore, the governance gap remains a moot point in the global energy politics.                             

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