Environment minister to lead Indian delegation at COP27

India looks forward to substantial progress on discussions related to climate finance and clarity on its definition. More clarity is needed on the definition of climate finance for the developing countries to be able to accurately assess the extent of finance flows for climate action

Swati Luthra
First Published4 Nov 2022, 05:24 PM IST
Environment minister to lead Indian delegation at COP27. (Photo: Bloomberg)
Environment minister to lead Indian delegation at COP27. (Photo: Bloomberg)

New Delhi: Union Minister for Environment, Forest and Climate Change, Bhupender Yadav, will lead Indian delegation to attend the 27th session of Conference of Parties of the UNFCCC (COP 27) scheduled to be held in Egypt from 6-18 November, 2022.

“India is fully engaged with the process and is supportive of the efforts by Government of Egypt for substantive outcomes at COP 27,” the ministry of Environment, Forest and Climate Change said in a press release.

In the 56th Session of the Subsidiary Bodies held in June 2022 in Bonn, developing countries made it clear that UNFCCC is the centre of the collective and multilateral response to the issue of climate change.

“India looks forward to substantial progress on the discussions related to climate finance and clarity on its definition. More clarity is needed on the definition of climate finance for the developing countries to be able to accurately assess the extent of finance flows for climate action. While the Standing Committee on finance will submit a report on the various definitions, we hope to have good deliberations on this to arrive at a common understanding. The interpretation of the term must be in line with the commitments made by the countries on climate finance in the Convention and its Paris Agreement,” the ministry added.

The goal of $100 billion per year of climate finance by 2020 and every year thereafter through till 2025 is yet to be achieved. Due to lack of common understanding, several estimates of what has flown as climate finance are available.

While the promised amount must be reached as quickly as possible, there is a need now to substantially enhance the ambition to ensure adequate resource flow under the new quantified goal post-2024.

“Strengthening of the financial mechanisms of UNFCCC and its operating entities is imperative to meet the climate finance delivery goals. There needs to be a greater discussion on this as resources available to them should be utilized well. The SCF could also play an important role in assessing the shortcomings and may suggest appropriate measures to address them,” the ministry said.

The Egyptian Presidency of COP27, which is also a member of the Like-Minded Developing Countries, has rightfully named COP 27 as the COP of “Implementation”.

“India welcomes this step as over the last twelve months the world has seen the widening gap between the statements by developed countries at COP 26 in Glasgow and the reality of their actions. India will support the Egyptian Presidency, for a plan of action that answers the needs of developing countries. Adaptation and loss and damage are two issues at the centre of attention, and a progress on these two issues will complement each other,” the ministry added.

On the Global Goal on Adaptation, there needs to be significant progress on actions, indicators and metrics. There must not be any hidden agenda of mitigation, especially in the form of nature-based solutions, in the name of co-benefits.

“India will emphasize again on its invitation to all countries to join the LiFE movement – Lifestyle for Environment, a pro-people and pro-planet effort that seeks to shift the world from mindless and wasteful consumption to mindful and deliberate utilization of natural resources. India is committed to both domestic action and multilateral cooperation on climate change, and will continue to fight all global environmental concerns in the call to protect humanity’s planetary home,” the ministry said.

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First Published:4 Nov 2022, 05:24 PM IST
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