BASIC calls for roadmap on climate financing by rich nations

The group of BASIC countries, including India, today called on the developed world to define a clear roadmap for providing USD 100 billion by 2020 to developing nations to tackle climate change.
A statement issued by China on behalf of BASIC countries in the plenary extended support for an 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.
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.

Noting that there is a gap in support provided to developing nations, the BASIC countries - Brazil, South Africa, India and China - said that the second commitment period of Kyoto Protocol is an important step and instrument to implement the convention ahead of the agreement.
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.