After a meeting of four emerging economies—Brazil, South Africa, India and China (BASIC)—in Tianjin on Monday, the BASIC countries said the outcome in Cancun should pave the way for a legally binding outcome in South Africa next year.
A global legally binding emission cut agreement is urgently needed to replace the Kyoto protocol.
However, since emission reduction impacts the economy, framing a global agreement is not an easy job as the road ahead is strewn with policy landmines.
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