Environment minister says clarity on climate finance and technology transfer will be sought from developed countries, while more aid will be offered to developing countries
Environment minister says clarity on climate finance and technology transfer will be sought from developed countries, while more aid will be offered to developing countries
Environment, Forest and Climate Change Minister Bhupendra Yadav said on Thursday that India will insist on “action” and a clear path that needs to be taken to provide long-promised finance to developing countries to adapt to the threats of climate change. should be followed, Bhupendra Yadav said on Thursday. The 27th edition of the United Nations Conference (COP) in Sharm-el-Sheikh, Egypt which is starting from 7 November.
“This should be a COP for action. We want clarity on climate finance, technology transfer and a clear definition of what constitutes climate finance. There are many claims being made on funding by the West but loans and grants are clearly separate. There should be. We will make a strong case for it this time,” Mr. Yadav told reporters.
Several world leaders, including US President Joe Biden and UK Prime Minister Rishi Sunak, are likely to attend the two-week-long summit. However, it is not clear whether Prime Minister Narendra Modi will attend. The summit of world leaders is expected to take place on 7 November.
$100 billion has been promised annually to developing countries since 2008 to adopt and mitigate climate change, but only a fraction has actually been provided, India and many other countries have maintained over the years.
This August, the Union Cabinet approved an update to India’s Nationally Determined Contribution (NDC), a formal communication to the United Nations, to prevent global temperatures from rising beyond 2 °C by the end. The steps to be taken by the country are spelled out. Of the century
Latest NDC says India committed to reduce emissions intensity of its GDP by 45% by 2030 from 2005 levels and achieve 50% cumulative electric power installed capacity by 2030 from non-fossil fuel-based energy resources Is. These are seen as a step towards achieving India’s long-term goal of reaching zero by 2070, the commitment made by Mr. Modi at the Glasgow, Scotland COP summit in 2021.
India will also support initiatives that provide technical assistance to developing countries to reduce losses and damages caused by the effects of climate change, and emphasize an institutional network to realize these.
Sharm-el-Sheikh will have an Indian pavilion based on Jeevan (Lifestyle for the Environment), often articulated by Mr. Modi. The environment ministry said in a statement that the pavilion will showcase India’s leadership and achievements on climate action and will have at least 50 organizations hosting side events.