New Delhi: The United Nations’ climate change summit opened in Egypt on Sunday with India hoping for substantial progress in discussions on climate finance.
The 27th edition of the Conference of Parties (COP) to UNFCCC will see India seeking clarity on the definition of climate finance — whether it is grants, loans or subsidies — and nudging developed countries to enhance the supply of technology and finance needed to address climate change and resulting disasters.
The absence of a definition of climate finance allows developed countries to greenwash their finances and pass off loans as climate-related aid. Officials said India will counter any effort to classify loans as climate finance.
India will also emphasise that it is one of the few countries which has met the 2015 climate goals set in Paris, and stress on climate justice and sustainable lifestyles through Prime Minister Narendra Modi’s LIFE movement which stands for “Lifestyle for Environment”. At this year’s conference, developed countries are expected to push developing nations to further intensify their climate plans.
On the other hand, the developing countries would seek commitment to finance and technology needed to address climate change and resulting disasters.
