The statement said that BASIC will work pragmatically with all other parties for an equitable and balanced climate agreement.
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). It asserted that differentiation should be there in each element of the Paris agreement.
Noting that there is a gap in support provided to developing nations, the BASIC countries said the second commitment period of Kyoto Protocol is an important step and instrument to implement the convention ahead of the agreement.
Developed nations should honour their commitments, made at the Copenhagen climate change conference in 2009, to provide USD 100 billion annually by 2020 and ensure that there will be no funding gaps from 2013 to 2020, it said.
Developed nations should also fulfil their pledge to offer USD 30 billion in "fast-start funding" to developing nations in order to help them address climate change, the statement said.
The BASIC countries committed to act jointly at the Copenhagen summit, including a possible united walk-out if their common minimum position was not met by the developed nations.
The Paris 2020 negotiations should have all aspects of the Kyoto Protocol and adhere to differentiation of the developed and the developing countries, the statement said.
British charity Oxfam issued a study saying the poorest half of the world's population -- 3.5 billion people -- is responsible for just 10 per cent of carbon emissions, despite being the most threatened by the catastrophic storms, droughts and other severe weather shocks linked to climate change.
"Rich, high emitters should be held accountable for their emissions, no matter where they live," Oxfam climate policy head Tim Gore said on the second day of the climate talks.
"But it's easy to forget that rapidly developing economies are also home to the majority of the world's very poorest people and while they have to do their fair share, it is rich countries that should still lead the way," he said in a statement.
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