On finance and technology transfer, India intervened to include “provision of finance mainly from public sources, ensuring the scale, scope and speed of climate finance, also ensuring that such finance was predominantly in the form of grants or concessional loans and not loans per se and must be guaranteed to not increase the debt burden of developing countries,” the ministry said.
For technology transfer, repeated references were made by the Indian delegation that it was an integral part of means of implementation of various mitigation and adaptation measures.
At the end of the negotiations, which took place between March 13 and 19, and was attended by government representatives from 195 countries, India noted that the actual space devoted to important issues in IPCC’s synthesis report was quite limited and did not address the issues of equity and justice in the context of global mitigation and adaptation efforts, burden sharing, and the provision of means of implementation (finance, technology transfer and capacity building).
“While there was resistance to referencing the $100 billion commitment of developed countries to developing countries, there were huge efforts, especially by Germany, Luxembourg, the US, Switzerland, Norway, France, Japan, and Australia to include language on aligning financial flows with ambitious climate action,” the TWN said in its briefing. It means that developed countries sought to make climate finance conditional to mitigation efforts of developing countries.
Overshooting 1.5°C warming will lead to irreversible impacts and risks for human and natural systems, all growing with the magnitude and duration of overshoot, the IPCC’s synthesis report released on March 20 said. The 1.5°C goal will be breached within next few years even in the lowest emissions scenario, the report said.
Source- Hindustan Times.