Lima, Dec 14: India today hailed the outcome of the climate summit here, saying the deal reached has addressed the concerns of the developing countries and given them enough space to grow and take appropriate nationally determined steps to combat global warming.
"We are happy that the final negotiated statement at COP20 in Lima has addressed the concerns of developing countries and mainly the efforts of some countries to re-write the convention has not fructified," Environment Minister Prakash Javadekar said.
Negotiators today adopted a compromise draft for national pledges to cut global carbon emissions at marathon UN climate talks at the Peruvian capital here that addressed all of India's concerns and paved way for a new ambitious and binding deal to be signed in Paris next year.
Indian delegation led by Javadekar worked overnight, engaging with developed as well as developing nations to reach the deal taking into account India's concerns.
"We played a very pro active role. Last two nights we were awake and we remained actively engaged with developed as well as developing world," the minister said after hectic negotiations by officials from 194 countries for 14 days. "It (deal) gives enough space for the developing world to grow and take appropriate nationally determined steps," he said.
He said the final draft reached after the talks, which ran into two days of extra time, has paved the way for a Paris Agreement to be arrived next year on the basis of principles of equity and differentiated responsibility.
"The final draft also clearly mandated the developed world to take more firm financial commitments to scale it up to USD 100 billion per year from 2020. Developed world is also mandated to provide resources for technology development, transfer and capacity building," he said.
The developed world will have to take responsibility for action in technology and capacity building and to that end they will have to provide resources. On Green Climate Fund, he said the developed countries have given firm commitment.
"The financial treaty which was passed has more clarity. Now it is mentioned that they will provide and mobilise funds. So it will be aggressive public financing," Javadekar told PTI. "There is a greater role for public finance for Adaptation Funding," he said.