Global Stocktake should account for failures of developed nations: BASIC nations at COP28

Dubai: The BASIC grouping which includes India has pushed during annual climate talks here that the Global Stocktake should also account for the failures of the developed nations, sources said.

The Global Stocktake (GST) is a fundamental component of the Paris Agreement which is used to monitor its implementation and evaluate the collective progress made in achieving the agreed goals.

During the ongoing climate talks, the Global Stocktake is expected to take centre stage.

According to multiple delegates who were present in the preliminary negotiations which put forward their initial expectations, the BASIC grouping of Brazil, South Africa, India and China condemned fragmented multilateralism of the developed world.

“The grouping pushed that the GST should account for achievements and failures, including on the part of developed countries,” one of the delegates from the Pacific Islands, who was not authorised to speak to the media, told PTI.

Another delegate from Kenya also confirmed the demand of the BASIC nations and said the grouping also condemned unilateralism and trade protectionism.

When the Indian delegation was contacted, they confirmed the BASIC grouping demands but also underlined that these were the preliminary demands put forward before the negotiations started in full flow.

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 committed to act jointly at the Copenhagen climate summit, including a possible united walk-out if their common minimum position was not met by the developed nations.

Dubai is abuzz with activity as the highly anticipated annual climate talks, COP28, opened on Thursday.

Nearly 1,00,000 delegates from 198 countries are participating in the global conference which commenced on Thursday and will run through December 12.

Heads of state and governments, including Prime Minister Narendra Modi, King Charles III of England, and UK Foreign Secretary David Cameron were present at the climate summit.

The leaders engaged on December 1 and 2, taking part in the Global Climate Action Summit. Subsequent days will witness closed-door discussions among officials and experts, with significant high-level political decisions anticipated in the final days to shape the resolution.