Green Climate Fund of $100 billion/year not enough to tackle climate change: India

India today said the commitment by some developed nations to generate USD 100 billion towards Green Climate Fund (GCF) every year by 2020 will not prove sufficient to tackle the climate change issues.

PTI| Last Updated: Jul 14, 2015, 19:44 PM IST

New Delh: India today said the commitment by some developed nations to generate USD 100 billion towards Green Climate Fund (GCF) every year by 2020 will not prove sufficient to tackle the climate change issues.

India, which is in the advanced stage of finalising its INDCs, also said pre-2020 actions to tackle climate change should be "ambitious", while stating that the countries which had pledged to cut carbon emissions should fulfil their commitment even if a new global pact is arrived at in Paris later this year, for post-2020 implementation.

INDCs (Intended Nationally Determined Contributions) are voluntary pledges that countries are making to cut carbon pollution ahead of UN climate meet in Paris at the end of the year. The meeting is supposed to come out with a new global climate agreement.

"We are at a fairly advanced stage of finalising our INDCs. We will submit our INDCs before the September deadline. Already, some 40 countries have declared their INDCs, " Environment Secretary Ashok Lavasa said at a FICCI event here.

Asserting that India believes in having "comprehensive" INDCs, Lavasa said that it (INDCs) should not confine to mitigation goals alone but reflect the developed countries' commitment towards mobilising finance and green technologies.

The Secretary further said that though some developed countries have committed to provide USD 100 billion per year towards the GCF by 2020, but certainly the funds are not enough to tackle the climate change issues.

"We all know that transfer of technology and R&D -- all requires capital resources. Certainly, USD 100 billion may not be enough to solve the problem of climate change," he said.

The GCF was set up under the framework of the United Nations Framework Convention on Climate Change (UNFCCC) in 2010 and developed countries had committed to raise USD 100 billion each year by 2020 to help developing countries deal with climate change.

Even at the Petersberg Climate Dialogue in May this year, India had sought clarity on ways to mobilise the targeted global climate fund saying the developed countries are "nowhere" near the goal and this raises question on the credibility of the commitment.

It had also said that all countries must know the quantum of international financial assistance as they are in the process of preparing INDCs.

"The new climate agreement to be finalised in Paris is

all about post-2020. If climate change is a real concern, one should be talking about today. We cannot overlook the fact that we need to continue to take actions between today and 2020," Lavasa said.

There is also a need to fulfil earlier commitments made by different countries under the Kyoto Protocol or voluntary actions, he said.

Lavasa further said that the developing nations have the right to development and that "space" should be created for them while finalising new global climate agreement later this year.

"In pursuit of development, developing countries' emissions will grow and they might take mitigation measures. However, the space for development should be created. We feel unless there is recognition of the right to development, there won't be able to have very balanced outcome in the Paris meeting," he said.

Highlighting measures taken to meet the challenge of climate change, Lavasa said that the government has initiated eight missions in specific areas of solar energy, enhanced energy efficiency, sustainable habitat, water, sustaining Himalayan Eco-system among others.

"More than specific missions, there are many other initiatives where industry have to play a part. The Ministry is working towards revising some of the norms related to various sectors to control emissions and improve water use efficiency," he added