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India slams developed countries over climate finance 

India has aligned its stance with the views expressed by the Like-Minded Developing Countries (LMDCs), the Arab Group and the African Group of Negotiators (AGN)…reports Asian Lite News

At the ongoing COP29 climate conference in Azerbaijan, India expressed dissatisfaction on the insistence of developed countries to expand the scope of the Mitigation Ambition and Implementation Work Programme (MWP) from what was agreed upon in past. 

On Saturday, India delivered a statement in the closing plenary of the Subsidiary Bodies on the ‘Agenda on Sharm el-Sheikh Mitigation Ambition and Implementation Work Programme (MWP)’, at the COP29, being held in Baku, Azerbaijan. 

India made its statement reacting to the interventions by developed countries, asking for including mitigation paras from Global Stocktake at COP28 into the MWP. 

India has aligned its stance with the views expressed by the Like-Minded Developing Countries (LMDCs), the Arab Group and the African Group of Negotiators (AGN). 

India expressed serious concern about the progress the CoP29 made during the week. 

India’s statement mentioned, “We have seen no progress in matters that are critical for developing countries. Our part of the world is facing some of the worst impacts of climate change, with far lower capacity to recover from those impacts or to adapt to the changes to the climatic system for which we are not responsible.” 

The statement further read, “We notice a tendency to ignore the decisions taken in the past – related to the Sharm el-Sheikh mitigation ambition and implementation work programme at CoP27 and the context of the Global Stocktake in the Paris Agreement, where it informs the parties for undertaking climate actions.” 

India stressed that the MWP was established with a specific mandate that it shall be operationalized through focused exchanges of views, information and ideas, noting that the outcomes of the work programme will be non-prescriptive, non-punitive, facilitative, respectful of national sovereignty and national circumstances, while taking into account the nationally determined nature of nationally determined contributions and will not impose new targets or goal. 

Expressing frustration on the unwillingness to engage on this issue by the Developed countries during the past week, the statement by India read, “If there are no means of implementation, there can be no climate action. How can we discuss climate action, when it is being made impossible for us to act, even as our challenges in dealing with the impacts of climate change are increasing?” 

India asserted that those with the highest capacity to take climate action have continuously shifted goalposts, delayed climate action, and consumed a highly disproportionate share of the global carbon budget. 

The lead negotiator stated, “We now have to meet our developmental needs in a situation of increasingly depleting carbon budget and increasing impacts of climate change. We are being asked to increase mitigation ambition by those who have shown no such ambition, either in their own mitigation ambition and implementation, nor in providing the means of implementation.” 

As expected, India continued to be vocal about climate finance arrangements, primarily from the developed countries that are huge carbon emitters. Climate finance typically refers to any financing that seeks to support mitigation and adaptation actions that will address climate change. 

The 29th Conference of the Parties (COP) kick-started in Azerbaijan’s capital of Baku on November 11 and will continue till November 22. 

At COP26 held in 2021, India committed to an ambitious five-part “Panchamrit” pledge. They included reaching 500 GW of non-fossil electricity capacity, generating half of all energy requirements from renewables, and reducing emissions by 1 billion tonnes by 2030. 

India as a whole also aims to reduce the emissions intensity of GDP by 45 per cent. Finally, India commits to net-zero emissions by 2070. Green energy for climate mitigation is not just a focus area for India, but globally it has gained momentum.  

India’s CO2 emissions to rise by 4.6% 

India accounts for per cent of the global total carbon dioxide (CO2) emissions, and it is expected to increase by 4.6% in 2024, according to a new report.  

The report by Global Carbon Project, involving an international team of more than 120 scientists, showed that global carbon emissions from fossil fuels have reached a record high in 2024 — 37.4 billion tonnes in 2024, up 0.8% from 2023 levels. 

The report led by the University of Exeter showed “there is ‘no sign’ that the world has reached a peak in fossil CO2 emissions”. This is despite the urgent need to cut emissions to slow climate change. It showed that emissions from coal are expected to rise by 0.2%; oil by 0.9%; and gas by 2.4%. 

China’s emissions — which account for 32% of the global total — are projected to marginally increase by 0.2%, while US emissions (which account for 13% of the global total) are projected to decrease by 0.6%. Notably, emissions from the European Union (accounting for 7% of the global total) will decrease by 3.8%. 

Emissions in the rest of the world (accounting for 38% of the global total) are projected to increase by 1.1%, said the report, published in the journal Earth System Science Data. 

Currently, more than 40 billion tonnes of CO2 emissions are released each year. This is increasing the level of CO2 in the atmosphere — driving increasingly dangerous global warming. 

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IMF Chief: G20 Must Lead By Example On Climate Financing

IMF has so far secured USD 40 billion to support vulnerable countries through Resilience and Sustainability Trust to build climate resilience…reports Asian Lite News

G20 members must lead by example in delivering on the promises on financing they made for the cause of climate mitigation, besides supporting the strengthening of Multilateral Development Banks, said International Monetary Fund (IMF) Managing Director Kristalina Georgieva.

Speaking at the concluding session of the G20 Leaders’ Summit in New Delhi on Sunday, the IMF chief said it has so far secured USD 40 billion to support vulnerable countries through Resilience and Sustainability Trust to build climate resilience.

Climate finance typically refers to any financing that seeks to support mitigation and adaptation actions that will address climate change.

At the 15th Conference of Parties (COP15) in Copenhagen in 2009, developed countries had collectively committed to mobilising USD 100 billion per year by 2020 for climate action in developing countries. The goal was formalised at COP16 in Cancun, and at COP21 in Paris, it was reiterated and extended to 2025.

“Our one and only earth is threatened by existential climate change. Ahead of COP28, we must raise ambition to decisively reduce emissions to prevent grave risks to economic wellbeing and macro-financial stability,” she said. Excerpts of her statement were made available on IMF website.

She further noted that transforming the ambition into reality will require large investments both from the international community and the private sector, as well as an appropriate price for carbon.

“G20 members must lead by example in delivering on the promises of USD 100 billion per year for climate finance, supported by strengthening the Multilateral Development Banks,” Georgieva  said.

The IMF Director said she requested countries to mobilize domestic resources to finance and manage the green transition through tax reforms, effective and efficient public spending, and strong fiscal institutions.

Dancing to Odiya folk song

Georgieva arrived in Delhi on Thursday. On her arrival at the New Delhi airport, she was welcomed with tunes of Odisha’s famous Sambalpuri folk songs.

On hearing the melody of the Sambalpuri song and watching the artist’s dance performance, Georgieva could not stop herself from shaking a leg and joining in with the Sambalpuri artists.

Union Minister Dharmendra Pradhan shared a video of the event on X, expressing his pride in Odia culture.

“Difficult to resist Sambalpuri beats . MD International Monetory Fund, K Georgieva, arrives in India for the G20 summit to a Sambalpuri song and dance welcome. Odia Pride,” Pradhan wrote in a post on X.

Presidents of various countries, Prime Ministers, and heads of international organizations are arriving in India to attend the G-20 meeting, which is being held under the chairmanship of India from September 9 to 10. (ANI)

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Green development, climate finance among key issues on agenda

With about one week to the Summit, the beautification work is being fast-tracked in Delhi with cleaning, sanitation, green makeover, and other work in full swing…reports Asian Lite News

The G20 Summit in India is all set to commence on September 9 in the national capital. The summit will be held for two days and will be joined by representatives of member nations as well as guest nations who will engage in discussions about diverse economic reforms.

The summit will be concluded on September 10 with the adoption of a G20 Leaders’ Declaration. The declaration will consist of priorities and other points discussed and agreed upon during the meetings. As the national capital gears up to host the international summit next month, know all about the G20 Summit.

The G20 Summit will be held in New Delhi at ‘Bharat Mandappam’ at the ITPO Convention Centre, Pragati Maidan. The event will be held on September 9 and 10. In addition to the primary summit location, foreign delegates are also set to visit key venues of the national capital like Rajghat, IARI Pusa, and NGMA (Jaipur House).

To avert any hostages during the G20 summit in Delhi, a total of 69 explosive detection dogs from the police K9 squad will be strategically placed at critical locations across the New Delhi district. The team includes 13 trained dogs that were acquired from the Indian Army’s RVC (Remount and Veterinary Corps) unit.

With about one week to the Summit, the beautification work is being fast-tracked in Delhi with cleaning, sanitation, green makeover, and other work in full swing.

Some of the leaders who will attend the event in New Delhi include US President Joe Biden, British Prime Minister Rishi Sunak, Chinese President Xi Jinping, French President Emmanuel Macron, and Australian Prime Minister Anthony Albanese. Russian President Vladimir Putin will not be able to attend it.

During its G20 Presidency, India intends to prioritize the following issues:

1) Green Development, Climate Finance and LiFE

2) Accelerated, Inclusive and Resilient Growth

3) Accelerating Progress on SDGs

4) Technological Transformation and Digital Public Infrastructure

5) Multilateral Institutions for the 21st Century

6) Women-led Development

The theme of the international summit is “Vasudhaiva Kutumbakam” or “One Earth · One Family · One Future.” It is derived from a famous ancient Sanskrit text, Maha Upanishad. The theme, which gives the message of global unity, is a perfect slogan for the international grouping.

It also highlights the concept of LiFE and signifies environmentally sustainable and responsible choices. These choices are pertinent not only at the individual level but also at the national level.

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India calls for continued work on increased climate finance

Led by its Additional Secretary, Environment, Forest, and Climate Change, Richa Sharma, a delegation of 10 officials from India are currently at Bonn for the negotiations, said a ministry official…reports Asian Lite News

India, on behalf of BASIC countries, on Tuesday called for continued work on Loss & Damage, and the Global Goal on Adaptation and Climate Finance at the joint opening Plenary of the 56th Session of Subsidiary Bodies at Germany’s Bonn, ahead of the COP27 in November at Egypt’s Sharm-el-Sheikh.

Implementation of the Paris Agreement 2015 is the main theme for such climate negotiations. Under the United Nations Framework Convention on Climate Change (UNFCCC), it is an agreement for combined efforts at reducing emissions to restrict global temperature rise to 1.5 degrees Celsius compared to the pre-industrial era.

The Paris Agreement had reaffirmed the 2013 Warsaw International Mechanism for Loss and Damage (used just as ‘Loss & Damage’ in climate parlance) as the main vehicle under the UNFCCC process to avert, minimise and address loss and damage associated with climate change impacts, including extreme weather events and slow onset events, especially crucial for developing nations.

Led by its Additional Secretary, Environment, Forest, and Climate Change, Richa Sharma, a delegation of 10 officials from India are currently at Bonn for the negotiations, said a ministry official.

“Adaptation finance should be equal to mitigation finance. The developed nations do not want to invest in adaptation because the return on investments is low. But adaptation is a matter of existence for island nations and many developing countries. Going forward, finance for adaptation and Loss & Damage will be very important and India will take this forward,” the official said here.

Asserting that developed nations should deliver on finance, he said: “They will push for operationalising Article 6 but the finance for it has not yet come. Also, the Clean Development Mechanism (CDM) credits have not been counted yet.”

As it was agreed at last year’s climate change negotiations conference (COP26) at Glasgow that a document, ‘From Glasgow to Sharm-el-Sheikh’, will be prepared, the official said: “We are trying to ensure that these issues are part of this document.”

India also highlighted the importance of intra-generational equity along with inter-generational equity between and within nations.

Asked about the updated NDC – the nationally determined contribution as part of each nation’s actions for combating climate change – the official said: “India would submit the updated NDC under Paris Agreement before the designated time.”

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Yadav reiterates Modi’s demand of $1 trillion climate finance

The Minister also appreciated the efforts of the Third World Network (TWN) for its support to LMDC and expressed the need to ensure resources to TWN, the release added…reports Asian Lite News.

Calling upon the Like Minded Developing Countries (LMDC) to work closely to protect the interests of developing countries, Union Minister for Environment, Forests and Climate Change, Bhupender Yadav urged that climate finance cannot continue at the levels decided in 2009 and it should be at least $1 trillion to meet with the goals of addressing climate change.

The Environment Minister was speaking at the Ministerial meeting of the LMDC on the sidelines of COP26 in Glasgow. The meeting was presided by the Bolivian President, Luis Alberto Arce Catacora and the participating countries in the meeting included India, China, Cuba, Nicaragua and Venezuela.

Underlining the unity and strength of LMDC as fundamental in the United Nations Framework Convention on Climate Change (UNFCCC) negotiations to preserve the interest of the global south in fight against climate change, Yadav highlighted that recognition of the current challenges being faced by developing countries required intensified multilateral cooperation, not intensified global economic and geopolitical competition and trade wars, a release from the Ministry said.

The Environment Minister underscored that under the dynamic and visionary leadership of Prime Minister Narendra Modi, India is working on ambitious climate actions in line with sustainable development priorities. He requested the LMDC members to join hands with India to support the global initiatives it has pioneered, including the International Solar Alliance (ISA), Coalition for Disaster Resilient Infrastructure (CDRI) and the Leadership Group for Industry Transition (LeadIT).

The Minister also appreciated the efforts of the Third World Network (TWN) for its support to LMDC and expressed the need to ensure resources to TWN, the release added.

Yadav called upon the LMDC countries to work closely to protect the interests of developing countries, including the need to ensure a balanced outcome with equal treatment to all agenda items, including finance, adaptation, market mechanisms, response measures, and decisions on delivery of transfer of environment friendly technologies.

The countries collectively underscored that it needs to be ensured that the voices of the LMDC countries are heard loud and clear. The outcomes of COP26 must respect the fundamental principles of Convention, including equity and Common But Differentiated Responsibilities and Respective Capabilities (CBDR-RC).

The developed countries must provide means of implementation to developing countries in terms of climate finance, technology transfer and capacity building. They highlighted the empty promises of the developed countries and inability to deliver the $100 billion per year by 2020. They also called upon the speedy finalization of the Paris Rulebook.

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