News excerpt

BASIC nations urge Global Stocktake to assess developed nations' failures in COP28 climate talks.

About the news:

• During COP28, BASIC nations condemned developed nations' fragmented multilateralism in climate actions.
• BASIC nations emphasize Global Stocktake (GST) should evaluate both achievements and failures, including those of developed nations.
• The GST is expected to take centre stage, with preliminary demands from the BASIC group for accountability.
• India confirms BASIC's demands, emphasizing they are preliminary, condemning unilateralism, and trade protectionism.

BASIC countries:

• The BASIC countries (also Basic countries or BASIC) are a bloc of four large newly industrialised countries — Brazil, South Africa, India and China — formed by an agreement in 2009.
• The four countries committed to act jointly at the Copenhagen Climate Summit, including a possible united walkout if their common minimum position was not met by the developed nations.
• These nations have a broadly common position on reducing greenhouse gas emissions and raising the massive funds that are needed to fight climate change. 

COP28:

• The 28th Conference of the Parties (COP) to the UN Framework Convention on Climate Change(UNFCCC) is taking place in Dubai, United Arab Emirates, from 30 November to 12 December 2023.
• Since the inception of the initial UN climate agreement in 1992, the conference has been convened on an annual basis.
• The primary purpose of COP conferences is to facilitate governmental consensus on policies aimed at mitigating global temperature increases and adapting to the climate change impacts.