India has emphasised that “fast-start finance” was a vital part of any “balanced agreement” at the UN climate talks in Cancun. It also voiced disappointment over the American contribution of only $1.8 billion so far as part of a $30-billion pledge aimed at helping the poorest countries fight global warming.Talking to reporters after his arrival in Cancun, Environment Minister Jairam Ramesh underlined that one of the reasons that the BASIC countries — Brazil, India, China and South Africa ‘ had agreed to the Copenhagen Accord with the United States was the fast-start finance. Ramesh also expressed concern over Japan's announcement that it will not be part of a potential second commitment period under the Kyoto Protocol after its first commitment period expires in 2012.Under the first period, rich nations committed to cut emissions by an average 5 per cent over 1990 levels. Japan wants emerging economies like India and China to take legally binding emission cuts. The Indian minister, however, signalled optimism that some key decisions can be made in the week ahead.