After Dubai, the race against the climate crisis
1 year ago

After Dubai, the race against the climate crisis

Hindustan Times  

The Climate Conference of Parties is over — until the next one. Although the loss and damage fund was operationalised on the very first day, the sums pledged represent around 0.2% of the annual losses faced by developing countries due to the climate crisis. The final text refers to transitioning away from fossil fuels in a just, orderly and equitable manner, phase-down of unabated coal power, and makes references to the role of transitional fuels. Whereas the final text outlines comprehensive adaptation targets across sectors, it has no specific measures to fill the adaptation funding gap and makes assistance from rich countries a voluntary commitment. Smaller but more frequent inter-sessional meetings should focus on key pillars of action: Mitigation with equity at its core; climate adaptation and building resilience; finance ; technology co-development with the Global South ; delivery and tracking mechanisms; and most importantly, accountability.

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History of this topic

India’s stand against inadequate climate finance at COP29
4 weeks ago

India’s stand against inadequate climate finance at COP29

Hindustan Times  

The Conference of Parties 29 climate summit in Baku, Azerbaijan, ended on a dramatic note as negotiators announced a pledge to triple annual climate finance to $300 billion by 2035, with an aspirational target of $1.3 trillion. Therefore, we oppose the adoption of this document.” India’s rejection of the climate finance package came in the face of celebration by developed …

What’s the controversial $300 billion COP29 climate deal? Why has it angered India, other developing nations?
4 weeks, 1 day ago

What’s the controversial $300 billion COP29 climate deal? Why has it angered India, other developing nations?

Firstpost  

The tumultuous COP29, the UN climate summit, concluded in Azerbaijan’s Baku after talks continued until early Sunday. Developed nations forced a deal agreeing to provide $300 billion a year to the developing world from 2035 in climate finance. Developed nations forced an agreement promising to put together $300 billion a year from 2035 in climate finance. Mukhtar Babayev, COP29 President, …

COP29 raises climate finance to $300 billion a year, India says 'optical illusion'
4 weeks, 1 day ago

COP29 raises climate finance to $300 billion a year, India says 'optical illusion'

India Today  

After a complex negotiation at the climate finance in Baku during COP 29, countries adopted a $300 billion a year global finance target on Sunday to help poorer nations cope with the impacts of climate change. As per the final official draft by UNFCC, the central focus of COP 29 was on bringing together nearly 200 countries in Baku and …

COP29: $300 billion climate deal pushed through despite stiff opposition
1 month ago

COP29: $300 billion climate deal pushed through despite stiff opposition

New Indian Express  

BAKU: The United Nations climate summit in Baku on Sunday concluded amidst high drama with the adoption of a controversial agreement to triple climate finance for developing countries to $300 billion annually by 2035. Chandni Raina, adviser to the Department of Economic Affairs and part of India’s negotiating team, criticised the agreement for failing to address the urgent needs of …

Climate finance: Deploy the Loss and Damage Fund with care
1 month ago

Climate finance: Deploy the Loss and Damage Fund with care

Live Mint  

The urgency of climate adaptation has never been more apparent. By aligning L&D resources with the National Action Plan on Climate Change, India can enhance its ability to manage and disburse global investments effectively. L&D funding could significantly bolster India’s financial capacity for climate action, fostering resilience and supporting its transition to a low-carbon economy. India must secure commitments from …

India pitches for $1.3 trillion in annual climate support for developing nations
1 month, 1 week ago

India pitches for $1.3 trillion in annual climate support for developing nations

Live Mint  

Intervening on behalf of like-minded developing countries, India said that developed countries need to commit to provide and mobilise at least $1.3 trillion every year in the New Collective Quantified Goal till 2030. Developing countries require up to $1.5 trillion a year for their unique climate needs and net zero transition, according to various estimates. Also Read: COP29 stresses global …

India's push for $1 trillion in climate finance to take centre stage at COP29
1 month, 2 weeks ago

India's push for $1 trillion in climate finance to take centre stage at COP29

India Today  

With just days left until the United Nations Climate Change Conference begins in Azerbaijan, negotiators have yet to clearly outline a deal for a new climate finance goal. India has emphasised that developed nations need to provide at least $1 trillion annually for climate finance, as stated in the G20 New Delhi Declaration. The new financing goal will support developing …

At COP28, much talk but incremental gains
1 year ago

At COP28, much talk but incremental gains

Hindustan Times  

As the climate crisis talks underway in Dubai under the 28th Conference of Parties to the UNFCCC enter the second week of negotiations, all eyes are set on the ministers who have arrived to make national statements. Usually, the climate crisis negotiations do not make much headway in the first week as this period is spent mostly on developing options …

Equity and climate justice must be basis of climate action: India at COP28
1 year ago

Equity and climate justice must be basis of climate action: India at COP28

The Hindu  

India firmly believes that equity and climate justice must be the basis of climate action and this can be ensured only when the developed countries take the lead in combating climate change, Environment Minister Bhupendra Yadav said in Dubai at the COP28 on December 9. Delivering the national statement at the high-level segment during the ongoing annual climate conference, Mr. …

Raise domestic financing to fund climate action projects: IMF’s Georgieva
1 year ago

Raise domestic financing to fund climate action projects: IMF’s Georgieva

Live Mint  

New Delhi: Developing economies need to do more domestically to raise financing and deepen domestic capital markets to participate and invest in climate action, said International Monetary Fund managing director Kristalina Georgieva in an interview held during the climate summit in Dubai. As part of the plan, the IMF will start a new programme with the World Bank on tax, …

COP28: How India plans to set the agenda at crucial climate summit in Dubai
1 year ago

COP28: How India plans to set the agenda at crucial climate summit in Dubai

India Today  

The World Climate Action Summit, the high-level segment of the COP28, is set to witness the presence of world leaders in Dubai. Addressing a special briefing on PM Modi's visit to the UAE, Foreign Secretary Vinay Mohan Kwatra on Thursday said the PM Modi will also attend an event related to the Green Credits Initiative. If you recall, it was …

Climate funding is in short supply. So some want to rework the financial system
1 year ago

Climate funding is in short supply. So some want to rework the financial system

NPR  

Climate funding is in short supply. Enlarge this image toggle caption Ina Fassbender/AFP via Getty Images Ina Fassbender/AFP via Getty Images Developing countries need a lot more money for climate change Industrialized countries like the United States built their wealth producing and using fossil fuels. Sponsor Message "That $100 billion is a very important symbol of trust" between wealthy countries …

Fund to compensate developing nations for climate change is unfinished business at COP28
1 year, 1 month ago

Fund to compensate developing nations for climate change is unfinished business at COP28

Associated Press  

NEW DELHI — Sunil Kumar watched helplessly in July as his home and 14 others were washed away by intense monsoon rains lashing the Indian Himalayas. Developing nations had long sought to address the problem, and finally broke through with an agreement at last year’s annual United Nations climate talks, known as COP27, to create what’s known as a loss …

COP28: Why India's role is pivotal in climate justice and finance
1 year, 2 months ago

COP28: Why India's role is pivotal in climate justice and finance

Firstpost  

India, along with other developing countries, is pushing for a new global climate finance target, acknowledging the growing costs of addressing and adapting to climate change India’s stance at COP28, the United Nations Climate Change Conference, centres around the importance of adaptation and equity in addressing climate change. Over the past two years, developed economies have also collaborated with major …

India slams rich nations' climate inaction; calls for focus on pre-2020 gaps, equity in Global Stocktake
1 year, 2 months ago

India slams rich nations' climate inaction; calls for focus on pre-2020 gaps, equity in Global Stocktake

The Hindu  

India has said that the first-ever Global Stocktake outcome should prioritise addressing pre-2020 gaps, capture equity as an overarching concern and acknowledge the serious lack of ambition among developed nations in combating climate change. The Global Stocktake outcome must promote global climate action within the context of poverty eradication, sustainable development, economic diversification efforts, and closing gaps in social and …

India's vision for climate justice: COP28 and beyond
1 year, 4 months ago

India's vision for climate justice: COP28 and beyond

Hindustan Times  

As the world confronts the pressing reality of the climate crisis, the need for robust climate financing has never been more urgent. Notably, the establishment of the National Adaptation Fund for Climate Change and the National Clean Energy Fund serve as shining examples of India's commitment to promoting clean energy and supporting climate-resilient infrastructure. The Climate Finance Working Group's estimation …

Over-emitting nations owe India $1,446 per capita until 2050 as climate compensation: study
1 year, 6 months ago

Over-emitting nations owe India $1,446 per capita until 2050 as climate compensation: study

The Hindu  

Economically developed countries such as the U.S. and Germany are responsible for 90% of the excessive carbon dioxide emissions and could be liable to pay a total of $170 trillion as compensation to low-emitters like India to ensure climate change targets are met by 2050, says a a new study. `Net zero’ by 2050 The researchers, from the University of …

UAE defends Big Oil’s role at UN climate summit it will host
1 year, 6 months ago

UAE defends Big Oil’s role at UN climate summit it will host

Associated Press  

BERLIN — A senior United Arab Emirates official says the Gulf nation wants the U.N. climate summit it’s hosting later this year to deliver “game-changing results” for international efforts to curb global warming, but doing so will require having the fossil fuel industry at the table. “We need to have oil and gas, we need to have industry, we need …

‘Adapting to climate change to cost India ₹85.6 lakh crore by 2030’
1 year, 7 months ago

‘Adapting to climate change to cost India ₹85.6 lakh crore by 2030’

The Hindu  

The cumulative total expenditure for adapting to climate change in India is estimated to reach ₹85.6 lakh crore by 2030, the Reserve Bank of India’s Department of Economic and Policy Research estimated in its Report on Currency & Finance 2022-23. India’s green financing requirement is estimated to be at least 2.5% of GDP annually till 2030 to address the infrastructure …

Are rich and poor countries divided on COP27 outcomes? - The Hindu
2 years ago

Are rich and poor countries divided on COP27 outcomes? - The Hindu

The Hindu  

November 25, 2022 08:35 pm | Updated 08:35 pm IST Another climate change summit has ended- COP27 in Egypt’s Sharm el Sheikh nearly ended last weekend without a deal. But on Sunday, it came out with progress on a long-pending agreement to set up a loss and damages fund to help the world’s most vulnerable countries hit by climate change. …

India @COP27: Why Development & Not Climate Finance Should Be Govt's Top Agenda
2 years ago

India @COP27: Why Development & Not Climate Finance Should Be Govt's Top Agenda

The Quint  

The relevant decision text notes that the Conference of Parties ‘establish a fund for responding to loss and damage whose mandate includes a focus on addressing loss and damage.' To further restrict the recipient of the Fund, COP agreed to establish the new funding arrangements “for assisting developing countries that are particularly vulnerable to the adverse effects of climate change”. …

Can poor countries afford to go green?
2 years ago

Can poor countries afford to go green?

The Hindu  

The 27th United Nations Climate Change Conference concluded on November 20 in Sharm el-Sheikh Egypt. Nearly 200 countries pledged to set up a ‘loss and damage fund’ to help vulnerable countries affected by climate change. How can poor countries weigh the cost of climate change against the economic cost of cutting down on fossil fuel use? COP27 | India hails …

COP27 | India hails ‘Loss and Damage’ compensation fund approved at U.N. climate summit
2 years, 1 month ago

COP27 | India hails ‘Loss and Damage’ compensation fund approved at U.N. climate summit

The Hindu  

India on Sunday called as historic the U.N. climate summit in Egypt for securing an agreement on establishing a fund to address ‘Loss and Damage’ due to climate change-induced disasters, saying “the world has waited far too long for this”. He welcomed the inclusion of "transition to sustainable lifestyles and sustainable patterns of consumption and production in our efforts to …

COP27 establishes ‘Loss and Damages’ fund for climate reparations
2 years, 1 month ago

COP27 establishes ‘Loss and Damages’ fund for climate reparations

The Hindu  

Delegates at the U.N.’s climate conference in Sharm el-Sheikh, Egypt thrashed out an agreement on Sunday to establish a ‘Loss and Damages’ fund to compensate the most vulnerable countries for damages from climate-linked disasters, after nearly 40 hours of negotiation beyond the prescribed Friday deadline. Crucial questions — such as who will manage this fund, whether contributions are expected from …

No proposal on loss and damage funding in draft COP27 climate deal document
2 years, 1 month ago

No proposal on loss and damage funding in draft COP27 climate deal document

The Hindu  

A first formal draft of the U.N. climate summit deal in Egypt was published on November 18, 2022, yet again leaving out India's call for phase down of all fossil fuels and without any proposal on loss and damage funding. The draft reaffirms that limiting global warming to 1.5°C requires rapid, deep and sustained reductions in global greenhouse gas emissions, …

Distinct attempt being made to forget rich nations' historical contribution: India at COP27
2 years, 1 month ago

Distinct attempt being made to forget rich nations' historical contribution: India at COP27

The Hindu  

The progress on key issues at the ongoing U.N. climate summit has not been good due to the divergence of views on some fundamental approaches to climate issues, India said on Wednesday. Union Environment Minister Bhupender Yadav said there is a distinct attempt to "forget or overlook" historical contributions and responsibilities of developed nations. Mr. Yadav said India is co-leading …

Fears UK will break climate crisis pledge for poor nations after failure to reveal funding
2 years, 1 month ago

Fears UK will break climate crisis pledge for poor nations after failure to reveal funding

The Independent  

Ministers have been told to come clean on suspicions the UK will break promises to fund climate crisis help for poorer nations, after failing to set out what money is being provided. Campaigners said Rishi Sunak, as he arrives in Egypt, must reveal how much is being provided in so-called “international climate finance”, to help developing countries cope with the …

COP27 | India insists on higher global climate finance target by 2024
2 years, 1 month ago

COP27 | India insists on higher global climate finance target by 2024

The Hindu  

Developing countries require substantive enhancement in climate finance from the floor of $100 billion per year to meet their ambitious goals and rich countries need to lead the mobilisation of resources, India has stressed at the ongoing UN climate summit COP27. At COP15 in Copenhagen in 2009, developed countries had committed to jointly mobilise $100 billion per year by 2020 …

Climate emergency: Will polluting rich nations pay reparations?
2 years, 1 month ago

Climate emergency: Will polluting rich nations pay reparations?

Al Jazeera  

At COP27, negotiators and civil society groups will lobby not just for more money on the table, but also new avenues for capital to make a faster impact. Oxfam calculates a gap of up to $33bn over the past five years, a number dwarfed by the cost of “loss and damage” after recent disasters such as the 2021 Europe floods, …

Climate Change: Show us the money, say developing countries
2 years, 1 month ago

Climate Change: Show us the money, say developing countries

Live Mint  

The UN Secretary General, António Guterres said it quite succinctly a few days ago: “We need a global surge in adaptation investment to save millions of lives from climate carnage. Every year, the impacts of the climate crisis—from wildfires to droughts to disastrous flooding and superstorms—are increasing manifold, and in order to cope with this reality, countries need to urgently …

Addressing Climate Change: Policy Interventions And Sustainable Financing In India
2 years, 4 months ago

Addressing Climate Change: Policy Interventions And Sustainable Financing In India

Live Law  

According to the Global Risks Report, 2022 published by the World Economic Forum, climate action failure is amongst the top three most severe environmental risks and amongst the five most critical long-term threats to the world as well as the most potentially damaging to people and planet over a 10-year horizon. A 2021 assessment report by the Intergovernmental Panel on …

Climate finance: India's effort has exposed exaggerated claims by developed countries, says government
2 years, 4 months ago

Climate finance: India's effort has exposed exaggerated claims by developed countries, says government

Firstpost  

Union minister Ashwini Kumar Choubey said India has also been in the lead in calling for clarity in the definition of climate finance, and in clarifying the importance of scale, scope and speed in the delivery of such finance New Delhi: India has been taking the lead in raising the issue of climate finance and its efforts have exposed exaggerated …

Work towards a robust climate action now
2 years, 8 months ago

Work towards a robust climate action now

Hindustan Times  

We are in the middle of a global climate emergency that affects every aspect of our lives and civilisation. As greenhouse gas emissions continue to rise despite widely promised climate action by the world’s biggest carbon polluters, a global warming increase of 1.5°C above pre-industrial levels, a target set by world leaders when the Paris Agreement was signed in 2015, …

The climate crisis worsens
2 years, 9 months ago

The climate crisis worsens

Hindustan Times  

The Intergovernmental Panel on Climate Change ’s report, Climate Change 2022: Impacts, Adaptation and Vulnerability, released on Monday, is an unvarnished account of the expanding footprint of the climate crisis on the world. Mass mortality events on land and ocean; first climate-driven extinctions; loss of hundreds of local species; death and disease due to extreme heat are some of the …

The developed world and its climate goals
2 years, 10 months ago

The developed world and its climate goals

Hindustan Times  

India’s energy needs are expected to double in 20 years and denying people this energy would be the equivalent of denying life to millions, Prime Minister Narendra Modi said on Wednesday at the World Sustainable Development Summit. At the Conference of the Parties in Glasgow in November 2021, PM Modi announced that India’s non-fossil energy capacity will reach 500GW by …

What will it take for India to show more climate ambition?
3 years ago

What will it take for India to show more climate ambition?

Live Mint  

Nearly a month since the COP26 climate summit began in Glasgow, England, many unanswered questions remain. For starters, it’s now quite clear that Prime Minister Narendra Modi’s announcements at the COP have not been converted into India’s new NDC towards mitigating climate change. In early September, the Bloomberg LP-led Climate Finance Leadership Initiative India was formed to channel private investment …

The numbers game: The Hindu Editorial on COP26 United Nations climate meeting at Glasgow
3 years, 1 month ago

The numbers game: The Hindu Editorial on COP26 United Nations climate meeting at Glasgow

The Hindu  

The 26th United Nations Conference of Parties in Glasgow, Scotland may not have a significant outcome as yet in sight. Prior to the summit, there was a frantic attempt by leaders of western countries, particularly the United States and summit host the United Kingdom, to have most countries agree on a mid-century net zero goal, or when emissions dip to …

India demands $1 trillion as ‘climate finance’
3 years, 1 month ago

India demands $1 trillion as ‘climate finance’

The Hindu  

India has demanded a trillion dollars over the next decade from developed countries to adapt to, and mitigate, the challenges arising from global warming, and has kept this as a condition for delivering on climate commitments made by Prime Minister Narendra Modi, a senior official who is part of ongoing climate agreement negotiations in Glasgow told The Hindu. India’s five-fold …

COP26 draft says climate finance is insufficient
3 years, 1 month ago

COP26 draft says climate finance is insufficient

The Hindu  

A draft document of the agreement that countries, including India, are negotiating in Glasgow, Scotland underlines that the promised climate finance by the developed countries is “insufficient to respond to the worsening climate change impacts in developing countries” and urges the developed countries to “urgently scale up.” The provision of finance for mitigation and adaptation of the impact of global …

COP26: As climate damage mounts, poor nations press wealthy to pay up
3 years, 1 month ago

COP26: As climate damage mounts, poor nations press wealthy to pay up

India Today  

Poor nations are pressuring their wealthy counterparts at the U.N. climate summit to pay up for the mounting damage being caused by global warming, pointing to increasing powerful storms, cyclones, droughts and floods afflicting their people. A study commissioned by development agency Christian Aid, meanwhile, estimated that climate damage could cost vulnerable countries a fifth of their gross domestic product …

Climate justice for climate change: How Narendra Modi stole the march over his peers at COP26
3 years, 1 month ago

Climate justice for climate change: How Narendra Modi stole the march over his peers at COP26

Firstpost  

The prime minister was successful in showcasing to the world that unlike the duplicitous West, India has been at the forefront of both climate mitigation and climate justice On climate change and environment, India has strongly spoken on the need for critical enablers for galvanising global climate action which includes commensurate, long-term, concessional climate finance, access to affordable and sustainable …

BASIC nations underline climate finance goal
3 years, 1 month ago

BASIC nations underline climate finance goal

Hindustan Times  

Brazil, South Africa, India, and China -- nations that form the ‘Basic’ grouping -- are seeking a fresh long-term climate finance goal at the COP26 summit in Glasgow, according to a statement presented by India’s environment minister, Bhupender Yadav, on behalf of the bloc. Environment minister Bhupender Yadav Yadav said during the opening of COP26 that the grouping endorsed for …

Rich countries need to do more on climate change : Jaishankar
3 years, 2 months ago

Rich countries need to do more on climate change : Jaishankar

The Hindu  

External Affairs Minister S. Jaishankar suggested that rich countries needed to do more in terms of their climate commitments and allow developing countries the space to grow. He criticized rich countries’ $100 billion per year commitment to finance climate action in developing countries. “Compare the ‘rescue the planet package’ of 100 billion for which we are still struggling to raise …

Acting on climate change, a $11 trillion opportunity for India: Report
3 years, 3 months ago

Acting on climate change, a $11 trillion opportunity for India: Report

The Hindu  

India must act now to prevent the country from losing $35 trillion in economic potential over the next 50 years due to unmitigated climate change, a new report from the Deloitte Economics Institute has said. The report, titled 'India's turning point: How climate action can drive our economic future', also reveals how the country could gain $11 trillion in economic …

India’s economy can lose $35 trillion without climate action
3 years, 3 months ago

India’s economy can lose $35 trillion without climate action

Live Mint  

When it comes to tackling climate change by drastically slashing CO2 emissions, cold, hard figures can sometimes work as incentives for governments to act. The report, India’s Turning Point, How Climate Action Can Drive Our Economic Future, states that India must act decisively to decarbonise now, or risk losing almost $35 trillion in economic potential over the next 50 years, …

How India can be a $11 trillion economy by 2070 from positive climate action
3 years, 4 months ago

How India can be a $11 trillion economy by 2070 from positive climate action

Hindustan Times  

India can gain $11 trillion in economic value over the next 50 years by limiting rising global temperatures and realising its potential to ‘export decarbonisation’ to the world, a new study by Deloitte Economics Institute shows. India could use the transition to a low-emission footing to restructure its economy towards growth in advanced industrial sectors, leveraging lower cost clean energy …

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