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TMI BlogIndia's new climate targets to reflect limited resourcesX X X X Extracts X X X X X X X X Extracts X X X X ..... India's new climate targets to reflect limited resources X X X X Extracts X X X X X X X X Extracts X X X X ..... ntributions (NDCs), or climate plans, for the 2031-2035 period this year. With many countries, including India, expected to miss the February 10 deadline, UN climate chief Simon Stiell on Thursday urged them to submit their plans by September at the latest. An official source told PTI that India has not yet finalized its new NDCs. "India's new NDCs will have targets achievable with the means av ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ailable. "Mitigating climate change requires financial and technological support, along with other enablers. Developed countries are unwilling to provide this support. Why should countries that did not cause climate change continue to suffer," the source asked. The collective aim of these climate plans is to limit global temperature rise since the start of the industrial revolution to 1.5 degree ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s Celsius, the key goal of the 2015 Paris Agreement. According to the United Nations Framework Convention on Climate Change (UNFCCC), adopted in 1992, high-income industrialised nations, which have historically been responsible for most of the greenhouse gas emissions driving climate change, are required to provide finance, technology and capacity-building support to developing and low-income eco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nomies to help them cope with a warming world. These countries include the US, the UK, Canada, Japan, Australia, New Zealand, and European Union member states such as Germany and France. In 2009, developed nations pledged to provide USD 100 billion annually by 2020. However, this target was only met in 2020, with about 70 per cent of the funds given as loans. In 2009, they pledged to provide US ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... D 100 billion per year by 2020. However, this pledge was only met in 2020, with around 70 per cent of the funds coming in the form of loans. Developed countries were required to deliver a new and ambitious financial package to support climate action in the developing world at the UN climate conference in Azerbaijan last year. However, they offered a paltry USD 300 billion by 2035, a mere fractio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n of at least USD 1.3 trillion needed annually from 2025. India had called the sum "too little, too distant", "paltry" and "an optical illusion". The government's Economic Survey 2024-25 tabled in Parliament in January said the lack of funding from developed countries to mitigate climate change in the Global South may prompt developing countries to "rework" their climate targets. India's Chief ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Economic Advisor V Anantha Nageswaran said that domestic resources will be the key to climate action amid the lack of support from developed countries. The government informed Parliament on Thursday that India has so far received USD 1.16 billion for climate projects through the financial mechanism of the United Nations Framework Convention on Climate Change (UNFCCC). This amount includes USD 80 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3.9 million from the Green Climate Fund, USD 346.52 million from the Global Environment Facility (for climate change focal area), and USD 16.86 million from the Adaptation Fund, according to a written reply in the Rajya Sabha by Union Environment Minister Bhupender Yadav. However, the majority of India's climate actions have been financed through domestic resources, he said. According to an anal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ysis, conducted by the UK-based think tank ODI and the Zurich Climate Resilience Alliance last year, India contributed USD 1.28 billion in climate finance through multilateral development banks in 2022 alone, surpassing the contributions of many developed countries. Only 12 developed countries provided their fair share of international climate finance in 2022, including Norway, France, Luxembourg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , Germany, Sweden, Denmark, Switzerland, Japan, the Netherlands, Austria, Belgium and Finland. PTI GVS ZMN X X X X Extracts X X X X X X X X Extracts X X X X
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