Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ News / World/  Developing nations hit out at Glasgow climate narrative
BackBack

Developing nations hit out at Glasgow climate narrative

Historical responsibility of developed countries in climate crisis cannot be ignored
  • LMDCs said that developed countries occupied 60% of the carbon space with only 18% of the world population
  • Photo: ReutersPremium
    Photo: Reuters

    GLASGOW : A day before the Glasgow climate change conference is to end, the Like Minded Developing Countries (LMDC) made a proposal to COP26 Presidency calling for recognition of historical responsibility and limited carbon space in the cover decision.

    The proposal mainly focuses on the state of the global climate system, and that Annex I countries (developed countries) have overused their domestic carbon space and must leave the remaining atmospheric space for developing countries. It also states that developed countries should achieve full decarbonization with a real and immediate reduction of emissions within this decade. LMDC has 20 member countries, including India and China.

    In a press conference on Thursday, LMDC pointed out that the draft text is reinventing the terms of the Paris Agreement, which they don’t agree with.

    They said developed countries occupied 60% of the carbon space with only 18% of the world population and the historical responsibility of developed countries in causing the climate crisis could not be ignored.

    “The Paris Agreement has a delicate balance, which we cannot rewrite. There should be differentiation in climate action and ambition. There should also be a recognition of the pre-2020 ambition gap. If we go ahead with the proposal of net zero by 2050 for all countries, the developing world will be trapped. We do not have the technological, financial means to achieve such targets. This narrative will allow the developed world to control the world with carbon colonialism. Developing countries will be ethically, financially condemned for not complying," said Diego Pacheco, lead negotiator of Bolivia on behalf of LMDC, at a press conference on Thursday.

    India, on behalf of the BASIC grouping of nations, said that balance was lacking in the draft texts, and the mitigation section offered a highly “prescriptive" approach due to proposals such as revising NDCs by 2022, annual ministerial roundtables on mitigation and updating long-term strategies but that the same approach was not reflected in finance, a member of the Indian delegation said. BASIC comprises Brazil, South Africa, India, and China.

    Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

    Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
    More Less
    Published: 11 Nov 2021, 11:53 PM IST
    Next Story footLogo
    Recommended For You
    Switch to the Mint app for fast and personalized news - Get App