Recently, the 29th meeting of environment ministers from the BASIC nations (Brazil, South Africa, India and China) was held in Beijing, China.
A statement was issued calling for a comprehensive implementation of the Paris Agreement (2015).
Apart from laying emphasis on Paris agreement, the group of ministers also called on the developed nations to deliver on their commitment to provide $100 billion climate finance to the developing countries.
The developed world under the Copenhagen Accord (established during the 2009 United Nations Climate Change Conference (COP-15) had promised $100 billion per year from 2012 to 2020.
This fund is known as the Green Climate Fund.
Green Climate Fund aims to help the developing and least developing countries to mitigate climate change issues as the Paris agreement comes into effect.
However, only about $10-20 billion has been contributed so far.
The meeting is in accordance with the principles of equity, common but differentiated responsibilities and respective capabilities (CBDR-RC).