COP29: BASIC countries ask rich nations to honour commitments
Baku: BASIC countries, including India, have asked developed countries to honour their commitments to provide climate finance rather than “diluting obligations” and rejected attempts by the rich nations to shift their financial responsibilities during negotiations at the ongoing COP29 here.
As the annual climate change summit entered the fourth day on Thursday, Brazil, South Africa, India and China (BASIC) also reiterated the need for full and effective implementation of the Paris Agreement 2015, a legally binding international treaty.
The Paris Agreement aims at substantially reducing global greenhouse gas emissions to hold global temperature increase to well below 2 degrees Celsius and pursue efforts to limit it to 1.5 degrees Celsius above pre-industrial levels (with a baseline 1850-1900).
India, Egypt, and the Independent Alliance of Latin America and the Caribbean (AILAC) also called for clear pathways to convert financial pledges into binding contribution agreements.
Throught the negotiations on Wednesday and Thursday, the G-77/CHINA grouping that also includes India called for a balanced New Collective Quantified Goal (NCQG) on climate finance that is responsive to developing countries’ needs.
The grouping also sought a technology implementation programme supported by the operating entities of the Financial Mechanism.
The developed countries have emphasised the importance of increasing global climate ambition and have called for all
nations, including emerging economies, to enhance their net-zero targets and implementation efforts.
However, these rich nations are facing criticism for not fully delivering on their own commitments, particularly regarding climate finance and support for developing countries.
In response, India, along with Brazil, South Africa and China as part of BASIC bloc, reiterated the need for full and effective implementation of the Paris Agreement.
“The BASIC bloc rejected attempts by developed countries to shift their financial responsibilities,” multiple negotiators confirmed to PTI.
The poor, developing countries also asked rich, developed countries to honour
their commitments to provide climate finance rather than “diluting obligations”, a negotiator from Brazil
told PTI.
