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Multilaterally agreed definition of finance to be India’s main focus at Climate Change Conference

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New Delhi, Nov 01: The failure by the wealthy countries to keep the $100 billion pledge to help poorer countries deal with the climate crisis is one of the key issues that would be discussed at the UN Climate Change Conference in Sharm El Sheikh, Egypt from November 16 and 18.

Multilaterally agreed definition of finance to be India’s main focus at Climate Change Conference

The 18 member Indian delegation would be led by Union Environment Minister Bhupendra Yadav. He will address the conference on November 7. Confirmation on when Prime Minister Narendra Modi will attend the summit is awaited.

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A Hindustan Times report said that India's focus will be on the multilaterally agreed definition of finance, a new collective goal on finance beyond 2025. India would also focus on the assessment of commitment to providing $100 billion annually for climate finance.

Around 90 heads of state and nation are expected to speak at the summit. The BBC reported that UK Prime Minister Rishi Sunak may attend the summit if there is sufficient progress made on the preparations for the autumn budget. The Presidents the United States and France will be attending the summit.

"The responsibility and obligation of richer nations like the United States are clear, as they have caused the majority of the heat-trapping emissions to date that are driving these climate extremes," a letter following a Climate Action Network press briefing on Monday read.

It also added that the US in particular is responsible for nearly a quarter of the cumulative carbon dioxide emissions since the Industrial Revolution began. "Yet the US's negotiating posture on Loss and Damage has been recalcitrant, creating a major obstacle to meeting the urgent needs of climate-vulnerable countries and causing great harm to our nation's reputation on the world stage, including most recently at COP 26 in Glasgow last November and at the climate conference in Bonn this June."

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