The Basic group of countries (India, China, Brazil and South Africa) on Tuesday projected solidarity on key issues emerging at Doha climate talks with Brazil and South Africa getting important duty to iron out differences on existing climate treaty, Kyoto Protocol and long term finance between
different geo-political groups.
South Africa and Sweden would hold ministerial discussions from Wednesday on the key issue of finance, which has divided the rich and the development on the issue of commitment.
Rich nations are not willing to upscale its commitment to provide US$100 billion dollars for climate finance by 2020 whereas developing countries threaten to stall the negotiations if they are forthcoming.
Sweden has provided US$4 billion to commitment of the rich nations to give US$30 billion by 2012 for fast track climate finance whereas South Africa is spearheading the demand of African continent to upscale the finance flow from developed world by 2020.
Brazil and Norway would engage with other ministers on the issue of second commitment period for Kyoto Protocol, where differences have emerged on the level of ambition. The developing world wants the rich countries part of the protocol to increase their emission mitigation targets whereas the rich nations are not willing to do so.
Brazil has also come out with a compromise proposal allowing rich nations another six months to increase their mitigation targets to bridge the emission gap with the second commitment period coming into force from January 1, 2013.
Officials say the proposal could be agreeable to European Union which has refused to increase its ambition to 30 % reduction in emissions as against promised 20 % by 2020.
It also provides for existing clean development mechanism to continue in its present format with baseline price for selling credits.
Price of carbon credits has plummeted to 0.60 Euros with speculation that existing carbon credits would not be allowed to be carried over to the second commitment period of the protocol.
The two ministerial groups indicate at the important role the United States is playing in driving the negotiations at Doha by allowing a window to keep talk alive on contentious issues even next year as it wants the new Barack Obama administration to work out its priorities.
"Finance is our major concern," said Chinese chief negotiator Xie Zenhua, outlining the key issues for the Basic group. "The developed world should commit on finance for medium term (2013-15) if they cannot promise for 2020," he added, a view held by other Basic countries also.
An Indian negotiator was later hopeful that differences would be sorted out and there would be a deal at Doha.
"There are still four more days left and as you know more work is done in night hours than during the day," he said, adding that the ministerial groups would be able to sort out the differences.