COP21: BASIC countries push for roadmap on climate finance

Climate Finance

The members of the leading emerging countries bloc BASIC, including India, have stressed on the need for the developed world to define a clear roadmap for providing USD 100 billion by 2020 to developing countries to tackle climate change. The divided negotiators in COP21 in Paris are trying to reach a pact acceptable to all. 

The statement that was issued by China on behalf of BASIC countries in the plenary extended support for a transparent and party driven process at the COP21 and said that BASIC will work pragmatically with all other parties for an equitable and balanced climate agreement.  According to the statement, it said that the agreement should be as per all the principles and provisions of the UN Framework Convention on Climate Change (UNFCCC) especially equity and common but differentiated responsibilities (CBDR) even as it asserted that differentiation should be there in each element of the Paris agreement. 

Underlining that there is a gap in support provided to developing nations, the members of BASIC said that the second commitment period of Kyoto Protocol is an important step and instrument to implement the convention ahead of the agreement. They insisted that the Paris 2020 negotiations should have all aspects of the Kyoto Protocol and adhere to differentiation of the developed and the developing countries.

Stating that the previous climate treaty, the 1997 Kyoto Protocol, divided the world into developed and developing countries, it only required the developed countries to cut their greenhouse gas emissions.  India and many other developing countries want the Paris agreement to state clearly that the developed countries have a bigger responsibility to fight global warming.

India’s leading negotiator at the COP21 Ajay Mathur said India remains committed to working with all parties for a “just and sustainable” deal.  He reiterated that India wanted developed nations to commit to more progressive targets on emission reductions.

India’s Prime Minister Narendra Modi has warned against any unilateral steps that will become a hurdlein the battle against climate change. Mr Modi had hoped that the developed countries would mobilise USD 100 billion annually by 2020 for mitigation and adaptation. “The principles of equity and common but differentiated responsibilities must remain the bedrock of our collective enterprise,” Mr Modi said. 

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