ALSO READCoral India Finance & Housing standalone net profit rises 64.42% in the June 2017 quarter Coral India Finance & Housing standalone net profit rises 76.92% in the September 2017 quarter Volumes jump at Sundaram Finance counter Piramal Finance enters into housing finance segment Finance Minister reviews performance of NIIF
A day after a major victory for India and developing countries on climate actions before 2020 that the developed world agreed to discuss in subsequent two years, India's Minister of Environment, Forest and Climate Change Harsh Vardhan on Thursday reiterated that provisions for finance, technology transfer and capacity building support to developing nations are critical.
"We need not always wait for scientific reports to act," he said at the high-level ministerial meeting of the UN Climate Change conference here.
"Additional and early pre-2020 actions by developed countries under the Kyoto Protocol and provision of finance, technology transfer and capacity building support to developing countries are critical for limiting the global temperature rise to two degrees Celsius by end of the century," he said.
Saying this Conference of Parties (COP 23) is crucial as it would set the stage for the 2018 Facilitative Dialogue, accelerate pre-2020 action and firm up the modalities for implementation of the 2015 Paris Agreement, the Minister said India has undertaken ambitious mitigation and adaptation actions.
The actions are in the field of clean energy, especially renewable energy, enhancement of energy efficiency, development of less carbon intensive and resilient urban centers and promotion of waste to wealth and efforts to enhance carbon sink through creation of forest and tree cover.
Planned actions and economic reforms, he said, have contributed positively to the rapidly declining growth rate of energy intensity in India.
"India has taken ambitious targets in its Nationally Determined Contributions and is on path for achieving those."
Tracing India's historical ties with Fiji, under whose presidency this summit is being held, Vardhan said: "We appreciate the initiative by the Fijian Presidency for adopting the Bula spirit of inclusiveness for guiding climate change discussions and action."
"India supports an inclusive approach and believes that citizens are important stakeholders and must also be included in this process. I think if all global citizens contribute to 'green good deeds', the challenge of combating climate change shall become more manageable."
Going forward, he said: "We expect the COP 23 outcomes are balanced and reached upon through a party-driven process. They should not result in reinterpretation of the Paris Agreement and equal progress should be made on all pillars."
Complimenting the world leaders for their resolution to uphold the Paris Agreement, the Minister said: "This is only the beginning. The task ahead is its effective operationalization in accordance with the agreed principles of equity and common but differentiated responsibilities and respective capabilities."
"We must also address the issue of climate justice," Vardhan added.
Two years after the world united around the Paris Climate Agreement and a year after its entry into force, the 197 parties to the UN Framework Convention on Climate Change (UNFCCC) have reconvened for their 23rd annual climate change talks in Bonn till November 17.
The talks, which began on November 6, are expected to take a number of decisions necessary to bring the Paris Agreement to life, including meaningful progress on the agreement to implement guidelines to keep global warming within 1.5 degrees Celsius with an aim to cut greenhouse gases from burning fossil fuels.
(Vishal Gulati is in Bonn at the invitation of the Global Editors Network to cover COP23. He can be contacted at firstname.lastname@example.org)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)