BASIC Countries underline climate finance goal


  • Recently, Union Minister for Environment, Forest and Climate Change delivered the statement on behalf of the BASIC countries, comprising Brazil, South Africa, India and China at the UN Climate Change Conference underway at Glasgow.

Key Observations 

  • He highlighted that even though COP 26 has been delayed by a year, Parties have already commenced implementation of their Nationally Determined Contributions (NDCs) and therefore, it is crucial that Paris Agreement Rulebook is concluded at COP 26.
  • In doing so, full effect must be given to implementation of the principles of Equity and Common but Differentiated Responsibilities and Respective Capabilities (CBDR-RC) and, recognition of the very different national circumstances of Parties.
  • The Environment Minister mentioned that COP 26 must aim for higher global ambition on climate finance and adaptation as well, along with recognition of Parties’ differing historical responsibilities and the developmental challenges faced by developing countries, compounded by the COVID-19 pandemic.
  • With regard to the long-term temperature goal, he affirmed that the latest available science makes it clear that all Parties need to immediately contribute their fair share, and achieving this would require developed countries to rapidly reduce their emissions and dramatically scale-up their financial support to developing countries.
  • Developed countries have not only failed to meet the $100 billion goal per year of support to developing countries each and every year since 2009, but they also continue to present the 2009 goal as the ceiling of their ambition all the way to 2025. In a context where developing countries, including BASIC countries, have massively stepped up their climate actions since 2009, it is unacceptable that there is still no matching ambition from developed countries on the enabling means of implementation on climate finance support.
  • COP 26 needs to be remembered as the COP where a step-change in financial support for developing countries from developed countries was initiated.
  • Along with finance, technology development and transfer and capacity-building are critical enablers of climate actions in developing countries.

Back to Basics

About BASIC Countries

  • The BASIC countries (also Basic countries or BASIC) are a bloc of four large newly industrialized countries Brazil, South Africa, India and China.

    BASIC Countries
    Credit: Wikipedia
  • It was formed by an agreement on 28 November 2009.
  • The four committed to act jointly at the Copenhagen climate summit, including a possible united walk-out if their common minimum position was not met by the developed nations.
  • This emerging geopolitical alliance, initiated and led by China, then brokered the final Copenhagen Accord with the United States.

About Copenhagen Accord

  • The Copenhagen Accord is a document signed at COP 15 to the UNFCCC on 18 December 2009.
  • The Accord states that global warming should be limited to below 2.0 °C (3.6 °F).
  • It does not specify what the baseline is for these temperature targets (e.g., relative to pre-industrial or 1990 temperatures).
  • In January 2010, the Accord was described merely as a political agreement and not legally binding, as is argued by the US and Europe.
  • It is not legally binding and does not commit countries to agree to a binding successor to the Kyoto Protocol, whose round ended in 2012.
  • According to the UNFCCC, these targets are relative to pre-industrial temperatures.

Source: Outlook India

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