Climate change: BASIC states ask developed countries to scale up financial aidhttps://indianexpress.com/article/india/climate-change-basic-states-ask-developed-countries-to-scale-up-financial-aid-5456396/

Climate change: BASIC states ask developed countries to scale up financial aid

The group, through a joint statement, urged developed countries to take urgent actions to close the pre-2020 implementation gaps by 2023 which they said can be a useful input for the first Global Stocktake (GST) — which they said should be conducted in light of equity and the best available science.

Ahead of the UN climate conference in Poland next month, the BASIC (Brazil, South Africa, India and China) group met to put pressure on developed countries to meet pre-2020 climate efforts, and to “progressively” and “substantially” scale up their financial support for future action.

The group, through a joint statement, urged developed countries to take urgent actions to close the pre-2020 implementation gaps by 2023 which they said can be a useful input for the first Global Stocktake (GST) — which they said should be conducted in light of equity and the best available science. “The GST process should be comprehensive, considering mitigation, adaptation, means of implementation, as well as including loss and damage and response measures, and reflecting equity.”

The GST refers to a proposed five-yearly-review of the impact of climate change action undertaken by countries. Under the Paris Agreement, each country has to present a climate action plan every five years.

The 27th BASIC meet was chaired by Union Environment Minister Harsh Vardhan, in which the ministers “reiterated that public finance is the fulcrum of enhanced climate ambition by developing countries and urged developed countries to fulfil their climate finance commitments of mobilising USD 100 billion per annum by 2020.” ens