Rio de Janeiro, July 6 -- BRICS member nations have called on advanced economies and the international financial system to provide "substantial" finance for climate mitigation in developing economies.

"...We call on advanced economies and other relevant actors in the international financial system as well as the private sector to provide substantial finance for climate actions in developing countries, including by expanding concessional finance and increasing private capital mobilization," Finance Ministers and Central Bank Governors of the BRICS countries have said in a joint statement Sunday, just ahead of the Summit.

"Given the significant adaptation needs of EMDEs (Emerging Market and Developing Economies), we call on international ...