The upcoming COP26 will put forth the need for Climate finance. Prime Minister Narendra Modi and Environment Minister Bhupender Yadav will attend the United Nations 26th conference of parties (COP 26) to be held in Glasgow. The share of contribution by the participating countries will be a subclause of discussion as well.
There will be an expected follow-up on the developed nations on their proposal of USD 100 billion per year to the developing countries. This amount will help developing economies to inculcate more sustainability and climate consciousness. It will also facilitate disaster mitigation, taking note of the current pandemic. Emergent nations received little to no compensation, despite being the worst-hit.
Asia has seen a peculiar rise in the number of floods and cyclones owing to greenhouse emissions and global warming. The Environment Secretary R P Gupta, citing these facts, said that since the developed economies are largely responsible for it, they must give compensation for it.
He further highlighted India's condition, that the carbon emissions of India, at 1.96 tons, has been way less than USA and China, yet it has suffered much more. India has committed to three of the major contributions under the Paris Agreement, which include cutting the emissions intensity of its GDP by 33-35 per cent from the 2005 - 2030 time period. The second is an increase in total cumulative electricity generation from renewable sources to 40 per cent by 2030 and create a surplus carbon drop of 2.5 to 3 billion tons through additional forest and tree cover.
Source: NDTV
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