Developed nations did not meet yearly $100 bn support goal: India at COP26

Developed nations have not only failed to meet the USD 100 billion goal per year of support to developing nations since 2009 but also continue to present it as the ceiling of their ambition all the way to 2025, Union Environment Minister Bhupender Yadav said at the international climate conference COP 26 here.

Key Highlights

• Yadav, who is representing India at the UN Climate Change Conference, made the statement on behalf of the BASIC group of countries – Brazil, South Africa, India and China – at the opening plenary session of the Conference of Parties (COP 26).
• At the plenary, the environment minister also highlighted that even though COP 26 has been delayed by a year, parties have already commenced implementation of their nationally determined contributions (NDCs) and therefore, it is crucial that the Paris Agreement Rulebook is concluded at COP 26.
• Yadav underlined that developing countries must be accorded time, policy space and support to transition towards a low emissions future.

• The minister mentioned that COP 26 must aim for higher global ambition on climate finance and adaptation as well, along with recognition of parties’ differing historical responsibilities and the developmental challenges faced by developing countries, compounded by the COVID-19 pandemic.

• In the statement, Yadav recalled the bottom-up nature of the Paris Agreement and the freedom of parties to determine their NDCs and progressively update them based on the outcomes of the global stocktake cycle and call of science.

SOURCE: Business Standard

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