At the COP27 summit beginning today, November 6, India will seek clarity on the definition of climate finance and nudging developed countries to enhance supply of technology and finance needed to address climate change and resulting disasters.
More than 45,000 registered COP27 participants and over 120 heads of states and governments will attend the summit today, including US President Joe Biden, UK PM Rishi Sunak, and French President Emmanuel Macron.
Prime Minister Narendra Modi will not travel to Egypt for the summit, while the Indian delegation will be led by Union Environment Minister Bhupender Yadav to the 27th Session of Conference of Parties of the UNFCCC (COP 27) from November 6 to 18. Yadav has arrived in Egypt's Sharm El-Sheikh on Saturday.
Here's a 10-point guide on India's agenda at COP27 summit
1) According to the Union Environment Ministry, India looks forward to substantial progress on the discussions related to climate finance and clarity on its definition, as officials from 200 nations gather on Sunday for the COP27 summit.
2) In an official statement, the Environment Ministry said, “As it is a saying that 'what gets measured gets done', 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."
3) Yadav said that the absence of a definition allows developed countries to greenwash their finances and pass off loans as climate-related aid, as per PTI reports.
4) Developing countries, including India, will also push rich countries to agree to a new global climate finance target - also known as the new collective quantified goal on climate finance (NCQG) -- which they say should be in trillions as the costs of addressing and adapting to climate change have grown.
5) RR Rashmi, Distinguished Fellow, TERI, and former climate negotiator under UNFCCC said that any consensus on an enhanced scale of financial mobilization could be a welcome takeaway from COP27.
6) "The figure of USD 100 billion for developing countries was agreed upon much before the Paris Agreement was signed. Based on the Nationally determined contributions (NDCs), the total cumulative financing requirements of the developing world is anything in the range of USD 5.8-5.9 trillion till 2030," Rashmi stated.
7) At the meet, India will also discuss the mantra of Lifestyle for Environment (LiFE), coined by Prime Minister Narendra Modi, according to the news agency ANI.
8) The environment ministry also stated that the discussion on NCQG in the ad-hoc working group must focus on the quantity of the resource flow and its quality and scope, PTI reported.
9) "Issues relating to access and suggestions for improvement in the function of the financial mechanisms are also important. Besides, an improvement in transparency to ensure appropriate oversight of the quantum and direction of flows is imperative," the ministry added.
10) At the UN climate conference, India will also emphasise 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.
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