Glasgow: a gap that is highly marked in labor in climate finance, India on behalf of basic countries – Brazil, South Africa, India and China – at the UN Climate Conference (COP26) here on Monday warned that “a lack of serious approach to climate finance It will endanger mitigation ambitions and enhanced adaptation and net zero promises “from developing countries.
Clearly connecting further progress in mitigation (emission cuts) with actual finance on the table, the group said responsibility for climate finance, as mentioned in the UN and Paris Convention Agreement, must be respected.
“Fixed Climate Financial Responsibilities that developed countries, towards developing countries,” said Richa Sharma, India’s main negotiator, while taking the upper floor, aligning themselves with other negotiation groups – G70 and China – on financial problems.
Basic intervention As long as the job requirements conducted so far in COP26 clearly reflecting concerns of all developing countries that highlight how rich countries only mobilize almost $ 80 billion in climate finance despite making promises to mobilize $ 100 billion per year from 2020 per year to support the state Developing countries take steps to deal with climate change challenges.
In fact, the planned financial delivery of the climate recently postponed three years.
“We do not want to see the enhanced mitigation ambitions fulfill the same fate as the Pre-2020 climate financial ambition.
It’s more than a decade since the promise of $ 100 billion, and the world is still waiting for mobilization and childbirth.
Trust in multilateralism and credibility of the process is at stake.
Ambition Post-2020 mitigation and clean-zero appointments require significantly increased climate financing, “Sharma said.
Even Indian Prime Minister Narendra Modi while giving a state speech during the leader summit in COP26 last week highlighting the gap and said that pressure must be placed in countries that were not in accordance with their promises made on their promises.
Take such concerns, basic groups – groups of negotiations are important for the process of climate talks – on Monday called for “strong domestic mitigation actions and credible by developed countries” non-dependency parties should not maintain their high carbon, no lifestyle sustainable.
Towards this goal, the group pitched to support the credible market and had a high environmental integrity and a strong non market approach.
On the need to improve Post-2025 finances considering the increasing cost of adaptation, Sharma, additional secretaries in Indian environmental services, said, “The magnitude of new financial goals can be determined through a structured process, with a clear schedule and milestone that we have new financial goals before 2025.
This is a simple request from many developing countries.
However, what we get is more workshops and in the session seminar to discuss new goals.
“The basic group also underlines that countries must now focus on implementation instead of just taking the frequency of updates Higher ambition.
“We can shift focus on implementation if we stop the element of the negotiations of the Paris Agreement (PA), such as those who bear the responsibility to provide resources, or how often the parties (countries) need to review their NDC.
This is a problem under PA, or “Sharma said.