New Delhi, Apr 8 (PTI) BASIC countries on Thursday urged developed nations to revisit their climate change mitigation targets and fulfil their commitments of providing support to developing nations.
In a joint statement issued by Brazil, South Africa, India and China (BASIC), their ministers expressed deep concern over the "insufficiency and inadequacy" of the support provided by developed countries to date.
The 30th BASIC Ministerial Meeting on Climate Change, organised virtually on April 7 and April 8, was hosted by India and chaired by Union Environment Minister Prakash Javadekar.
The group urged developed countries to "revisit their targets on mitigation under the United Nations Framework Convention on Climate Change (UNFCC) and the Kyoto Protocol, and fulfil their commitments of providing support to developing countries".
The UNFCC is the primary multilateral treaty governing actions to combat climate change through adaptation and mitigation efforts directed at controlling the emission of greenhouse gases that cause global warming.
"The ministers emphasised the necessity for the Glasgow Conference to deliver a breakthrough on financing for developing countries, particularly at a time when developing countries are facing multiple developmental challenges and the devastating impacts of the COVID-19 pandemic," the statement said.
The scale and speed of climate finance from developed countries has to increase considerably, it said.
The group urged developed countries to present at COP26 a clear roadmap on their existing obligations to mobilise USD 100 billion per year from 2021 to 2025 and to urgently initiate the process of setting the new collective quantified goal on finance as soon as possible.
The BASIC ministers said commitments made by developed countries in the pre-2020 period must be honoured even though "we have moved into the post-2020 era".
"The substantial gaps in mitigation, adaptation and support provided by developed countries to developing countries in the pre-2020 period must be counterbalanced by ambitious climate change action by developed countries in the post-2020 period," the statement read.
It noted that India has made rapid strides in decoupling its economic growth from greenhouse gas emissions.
"India has already achieved its pre-2020 voluntary target with a reduction of 24 per cent in emission intensity of GDP in 2016 as compared to 2005 levels," the group said.
India is implementing one of the largest renewable energy expansion programmes with a target of achieving 175 gigawatts (GW) of renewable energy capacity by 2022 and 450 GW by 2030.