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The BASIC grouping countires has said during the COP-28 here that the Global Stocktake should also account for the failures of the developed nations.
The Global Stocktake (GST) is a fundamental component of the Paris Agreement.
GST 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.
BASIC countries
The BASIC countries are a bloc of four large newly industrialised countries 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.
Nearly 1,00,000 delegates from 198 countries are participating in the global conference which commenced on Thursday and will run through December 12.
The BASIC countries are Brazil, South Africa, India and China.
They collaborate on issues of common interest, such as climate change, energy security, and sustainable development.
The acronym BASIC stands for the first letters of the four countries.
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