INDIA AND COP 27
In COP 27, every country has to submit its long-term strategy document that was released at the climate change meeting tracing out how it plans to reach the net zero targets. Developed countries have to reach net zero status by 2050,China decided by 2060 and India by 2070.Net zero refers to the balance between the amount of greenhouse gas produced and the amount removed from the atmosphere. We reach net zero by reducing emissions and implementing methods of absorbing carbon dioxide from the atmosphere. India, as an important step, pushed for a deal to phase down all fossil fuels - oil, gas, and coal. Though the biggest oil and gas producers like US and Saudi Arabia initially remained silent about the deal but later US agreed to the deal essentially because of the wording "phase down " not 'phase out' in the deal. Unfortunately even that could not find a place in the draft circulated in the conference, despite study Report released in the climate conference showed emissions from coal gas and oil are set to reach record levels by the end of 2022.China and USA are the top two polluters whereas interestingly European Union's contribution is declining and India's share is rising. According to the NASA study from the year 2000, 19 years recorded highest temperatures with the exception of the year 1998 before it since 1980.
As per Article 4.19 of Paris Agreement at COP 27, India also released a plan for long-term Low Carbon Emissions Development Strategy (LT LEDS).The document outlines the action plan India proposes to take towards low carbon development taking stock of existing policies and traces what government would like to do under each of these heads including Bio fuels, green hydrogen to power and India's low carbon growth broadly under 7 heads- 1.low carbon electricity systems consistent with development and integrated efficient and inclusive low carbon transport systems. India is expanding renewables and strengthening Grid.2.Integrated efficient and inclusive low carbon transport systems encouraging improved fuel efficient transition to cleaner fuels with less pollution. 3.Energy and material efficiency in buildings and sustainable urban development. 4.Decoupling growth from emissions and developing an efficient low emissions industrial system. 5.Carbon dioxide removal and related engineering solutions.6. Enhancing forest cover that is consistent with socio-economic and ecological considerations. 7. Increasing climate resilience in poverty eradication and employment creation. In any case low cost climate finance is essential to achieve low carbon development finance linkages to international trade and new multilateral mechanism to support innovation and technology development.
In COP 27, India stands by her commitment to equity and climate justice. Our growth paradigm sees development and climate action as complementary to each other.With a long coastline, vulnerabilty to monsoon disruptions, high dependence on agriculture for livelihood and possible impact on water systems ,.India is likely to bear considerable added development burden.Global surface temperature is directly proportional to cumulative eemissions, and limiting it requires global GHG emissions to be kept within a specific limit called the global carbon budget. Disproportionately, a largepart of the carbon budget has been utilized by developed countries. According to UNEP's recent Adaptation Gap Report Adaptation could cost upto $340 billion per year by 2030 and $565 billion per year by 2050.Considering the requirement the scale of finance and magnitude must definitely shift from billions to trillions and preferably the share of public finances should be more than private finance. Most disturbingly developed countries had been back tracking on finance and mitigation ccommitments made particularly in the production and consumption of fossil fuels. Rich countries account for 1/8 of global population but are responsible for half of estimated green house gases. They should deliver on the promise of previously committed funds such as $ 100 billion every year from 2020.As suggested by the United Nations funds should be first used to support the most vulnerable countries or regions.Poor countries also carry huge debts accordingly creditors should be generous in writing off loans for those on Frontline of climate emergency.
In fact no single country or continent is free from the clutches of climate change in various forms ranging from floods, droughts, heat waves ,landslides, forest fire, hurricanes to melting of ice layers especially in the context of prevailing world addiction to fossil fuels, we can expect the worse to come. Hence in the existing circumstances few experts argued that instead of waiting for a unanimous coordinated multilateral agreement and action individual countries should implement low carbon emission measures at regional or national level based on nation's cumulative emissions as the basis of its action. Eventhough in the draft circulated in COP 27 calls on countries to accelerate clean energy transitions, phase down 'unabated ' coal use and phase out inefficient fuel subsidies and and double the adaptation finance by 2025.Adaptation finance refers to the money made available to developing countries and the most vulnerable countries to climate changes to build defenses against further climate threats. Extensive experience in helping companies, governments and multilateral organizations to transform are required one to achieve adaptation and resilience both at national and global level. India divulged her plans to set up massive solar plants wind energy ,hydrogen mission and three fold increase in atomic power in order to phase down and gradually phase out extreme dependence on fossil fuels. But India's ambitions are also subject to availability of both financial and technical support from developed world.
As far as COP 27 agreement is concerned after days of tense bargaining between developed and developing countries in the summit yielded a proposal to set up a fund to benefit countries coping with irreparable damage from severe storms, floods droughts and wild fires.Rich countries like US Europe had so far resisted the idea of so called loss and damage fund fearing that it would lead to legal liability for their historic greenhouse gas emissions. This agreement has been welcomed by G 77 and Barbados negotiators describing that " we are satisfied that at least there is something on the plate now ". On the other hand regarding the climate finance the draft states that about $4 trillion per year needs to be invested in renewable energy till 2030 to reach net zero emissions by 2050.Even if we aspire for drastic reduction and eventual phase out of all fossil fuels and shifting to green energies stiff opposition from oil and gas producers of Middle East and African countries will persist for some more years keeping global warming and emissions high, until and unless better sense prevail among the policy makers to the need for achieving sustainable development and human welfare.
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