BASIC Says Financing, Adaptation Pressing Priorities for COP 17

Financing and adaptation are urgent tasks in the Conference of the Parties (COP17) to the United Nations Framework Convention on Climate Change (UNFCCC), said BASIC countries including Brazil, South Africa, India and China on Monday.

COP 17 officially kicked off in Durban on Monday morning.

"We reaffirm our continued full support to South Africa to make Durban Conference a success in an open, transparent, inclusive and party-driven process. We believe that the Durban Conference should achieve a comprehensive, fair and balanced outcome to enable the full, effective and sustained implementation of the Convention and its Kyoto Protocol," China said in a statement on behalf of the BASIC countries.

BASIC countries underscore that financing is one of the pressing priorities for COP17.

They urged the Durban Conference to take immediate steps for operationalization of the Green Climate Fund.

"This should include its capitalization from public funding by developed countries with accountability to and under the guidance of COP," the statement said.

The BASIC countries regard adaptation as another urgent task for developing countries in COP 17, supporting the African Group's position on prioritizing this issue in Durban.

"We call for immediate operationalization of the Adaptation Committee, which should contribute to adaptation policy development and implementation of adaptation actions in developing countries following the requests of developing countries and respecting a country-driven approach," the statement added.

The BASIC countries have promised to consolidate and strengthen the unity of G77 and China and appreciate the role played by South Africa as the incoming presidency and its efforts to achieve a successful outcome in Durban.

The BASIC countries are formed by an agreement on Nov. 28, 2009, with the grouping committed to act jointly at the Copenhagen climate summit, including a possible united walkout.