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The BASIC Countries- Brazil, South Africa, India, and China are calling out the double standards of rich nations at UN climate talks COP27 at Sharm el-Sheikh, Egypt.
BASIC countries have said there has also been a significant increase in the in the consumption and production of fossil fuels in the past years by developed countries, even as they continue to press developing countries to move away from the same sources.
The Ministers of the four countries met to strategize their common stand and send a strong political message ahead of a crucial round of negotiations that result in the final outcome of the COP27 in the next three days.
"Such double standards are incompatible with climate equity and justice,” said BASIC countries' ministers.
"BASIC countries are gravely concerned that developed countries are still not showing leadership or responding with a matching progression of effort. There has been backtracking on finance and mitigation commitments and pledges by developed countries,” said their joint statement
The ministers have also expressed their concerns over the issue of finance, saying climate finance provided by developed countries continues to fall short of the $100 billion per year commitment, as it has every year since the goal was set in 2009, and despite the deep regret expressed at COP26 in Glasgow, UK last year.