<p>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. <br /><br />A global legally binding emission cut agreement is urgently needed to replace the Kyoto protocol. <br /><br />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.</p>
<p>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. <br /><br />A global legally binding emission cut agreement is urgently needed to replace the Kyoto protocol. <br /><br />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.</p>