BASIC Environment Ministers Meet
Why in News
- 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).
- The Group also underlined the importance of a full, effective and sustained implementation of the UNFCCC, its Kyoto Protocol (1997-2012) and its Paris Agreement.