BASIC nations harden stand on climate talks | india | Hindustan Times
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BASIC nations harden stand on climate talks

india Updated: Aug 08, 2014 21:18 IST
Chetan Chauhan

The group of emerging economies collectively called BASIC -- Brazil, South Africa, India and China -- has hardened its stand on a new climate deal being pushed for approval by 2015, saying rich nations need to "significantly" enhance and introduce "transparency" in their mitigation action so that the new agreement is equitable.

The new climate deal -- to replace the existing Kyoto Protocol after 2020 -- aims to put the emerging economies in a different bracket than other developing world with a higher commitment to fight climate change.

A meeting of environment ministers from BASIC countries on Friday, chaired by environment minister Prakash Javadekar, was significant as a joint strategy for the meeting in Peru this winter was drawn.

In a strongly-worded statement, the BASIC ministers asked rich nations to provide finance, technology and capacity building support for the developing world to meet the emerging challenges of climate change.

The ministries also said that all signatories to the climate convention should communicate intended nationally determined contributions (INDCs) quickly and it should include quantified economy-wide emission reduction targets for rich countries apart from provision of finance and technology support for the developing world.

The rich countries had assured to provide US$100 billion per year for the fund by 2020 but there was no "clear roadmap" on how the money would be provided.

What's BASIC
Collective name of the group of emerging economies -- Brazil, South Africa, India and China

What's its demand
Rich nations must enhance their mitigation action and introduce transparency so that the new climate agreement is equitable

When is the new pact due
To be signed by 2015; it will replace the Kyoto Protocol after 2020