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NewsDecode | Environment & International Relations | Mains Paper 3: Conservation, Environmental Pollution and Degradation, Environmental Impact Assessment
For Students:
From a UPSC perspective, focus on India’s climate policy, Paris Agreement commitments, and climate finance in international negotiations.
Why in the News?
Ahead of COP29, India has reaffirmed its stance on climate finance, advocating for developed countries to honor their financial commitments under the Paris Agreement. India is expected to underline these "red lines" as essential for achieving global climate goals and ensuring equity in climate action.
Key Issues and India’s Position on Climate Finance
Climate Finance Commitments: The Paris Agreement, signed in 2015, mandated developed nations to mobilise $100 billion annually in climate finance by 2020 to support developing countries in climate adaptation and mitigation efforts. This target has consistently been missed, leading to concerns over funding gaps for sustainable development.
India’s Call for Equity: India emphasises that climate action should align with principles of equity and Common but Differentiated Responsibilities (CBDR), meaning developed countries, historically responsible for high emissions, should bear a greater share of financial and technological support for climate action in developing countries.
Loss and Damage Funding: India also supports establishing a clear Loss and Damage framework, which would ensure funds for developing countries severely impacted by climate-induced disasters. This provision is crucial for climate resilience, particularly in vulnerable regions.
Push for Transparent and Predictable Funding: India advocates for