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- BASIC countries namely Brazil, South Africa, India and China has held its 28th Ministerial meeting on Climate Change in Sao Paulo,Brazil.
- During the meeting,BASIC countries have jointly urged developed countries to fulfill their climate finance commitments under Green climate fund.
- Green Climate Fund(GCF) mechanism provides that the developed countries are expected to jointly mobilize $100 billion per year by 2020, from a variety of sources to address the mitigation and adaptation needs of developing countries.
- The BASIC countries also stated the importance of responsible, comprehensive, urgent and ambitious actions against climate change, including in the urban environment.
- The BASIC countries is a group of Brazil, South Africa, India and China.It was formed as the result of an agreement signed by the four countries in 2009.
- The four countries committed to act jointly at the Copenhagen climate summit.These nations have a broadly common position on reducing greenhouse gas emissions and raising the massive funds that are needed to fight climate change.
