BASIC Countries at COP26 highlights climate financing crucial for enhanced mitigation and adaptation ambition for Net Zero Pledges

Taking the floor on behalf of BASIC (Brazil, South Africa, India and China), India delivered the BASIC group statement at the joint stock take plenary at COP26 underway at Glasgow.

pragya

Praggya Guptaa | November 9, 2021 | 09.11.2021


#BASIC (Brazil   #South Africa   #India and China)   #COP26   #climate financing  


 (Source: PIB)

India takes the floor on behalf of BASIC, comprising of Brazil, South Africa, India and China. We align ourselves with the Statement made by Guinea on behalf of G77 and China. The BASIC nations thank you and the secretariat for convening this stocktake and the work done so far. We convey assurances of our constructive support for the remaining part of the work in this coming week.

While delivering the statement, Richa Sharma, Lead Negotiator(India) and Additional Secretary, Ministry of Environment, Forest and Climate Change said that BASIC countries support strong , credible domestic mitigation actions by developed country parties without undue reliance on cheap offsets to maintain their high carbon , unsustainable lifestyles and towards this end, the grouping supports markets that are credible and have high environmental integrity and strong non market approaches as well.

Sharma highlighted that cover decisions of COP26 should remain within the confines of the UNFCCC and the Paris Agreement and be fully consistent with its guiding principles of equity and Common But Differentiated Responsibilities and Respective Capabilities(CBDR-RC) and stated that the planet will benefit from strong implementation of the Paris Agreement , particularly in this critical decade .We want to flag a continuing challenge that requires your attention. Access to the venue remains challenging, and we feel that the SEC is the least accessible COP venues in recent memory. 

Nations have responded to the ambition gap in mitigation with enhanced NDCs and net zero targets . Pledges and renewed commitments are on the table. We would not like to see the enhanced mitigation ambition meet the same fate as the pre 2020 climate finance ambition . It has been over a decade since the annual USD 100 billion pledge , and the world is still waiting for its mobilization and delivery . Trust in multilateralism and credibility of the process is at stake. Post 2020 mitigation ambition and net zero pledges require significantly enhanced climate finance. The exact magnitude of the new finance goal can be determined through a structured process, with clear timelines and milestones so that we have a new finance goal well before 2025. It is a simple ask from many developing country parties. Yet, what we are getting is more workshops and in session seminars to discuss the new goal. BASIC would like to warn that lack of a serious approach to climate finance will jeopardize the enhanced mitigation and adaptation ambition as well as net zero pledges of parties. In the interest of transparency and enhanced understanding, we also call for a mandate to SCF to work towards multilaterally agreed, operational definition of climate finance . BASIC nations would also like to stress that the responsibility for climate finance , as mentioned in the convention and PA, should be respected. The CF responsibility remains that of developed countries, towards developing countries.

Comments

 

Other News

Bank loan recovery in recent years has mirrored Hindu rate of growth

At the outset, for those who are not familiar with the nomenclature ‘Hindu Rate of Growth’, it refers to the low economic growth in post-independent India till the 1990s, when several economic liberalisation measures were undertaken. Till the 1990s, the growth rate was around 4%, which accelera

“Indian Navy needs more capabilities to build ships”

As India faces increasing threats from China and Pakistan on sea, Vice Admiral Ajendra Bahadur Singh, Flag Officer Commanding-in-chief (FOC-in-C), Western Naval Command, has said that the Indian Navy needs to scale up its capabilities and have more budgets allocated. Speaking to members of t

Mumbai issues strict guidelines for home quarantine of all international passengers

In view of the emerging threat of the new coronavirus variant, Omicron, the BrihanMumbai municipal corporation (BMC) Saturday issued strict guidelines for surveillance of all international travellers arriving in the metro and especially those from ‘at risk’ nations. Outlining SO

Omicron: Maharashtra revises travel guidelines

A day after the union health secretary wrote to it that its order on SOPs for air travellers was in divergence with guidelines issued by the MoHFW, GoI in view of the Omicron threat, the Maharashtra government on Thursday revised its guidelines for passengers arriving in the state. Issuing

Omicron: Centre asks Maharashtra to follow uniform guidelines

With the threat of Omicron, the new variant of the coronavirus, looming large, the union health ministry has written to the Maharashtra government to align orders issued by the state with the ministry’s guidelines for uniform implementation. The state government in its order dated Nove

Central Railways runs over 800 Kisan Railway trips

To ensure bigger access to farm produce and provide new markets with quick transportation and subsidy at 50%, the Kisan Rail has been bringing prosperity, joy, and hope to farmers of Maharashtra. On November 28, the Central Railway ran its 800th  trip of Kisan Rail from Sangola to Muzaffarpur.

Visionary Talks: Dr. Naresh Trehan, CMD Medanta Heart Institute with Kailashnath Adhikari



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter