After India objected to Pakistan's USD 35 million proposals to the Green Climate Fund (GCF), a United Nations Framework Convention on Climate Change (UNFCCC), the board has postponed its decision of granting the aid.
The Ministry of Climate Change (MoCC) had submitted a USD 35 million project to the GCF to address the mounting risk of glacial lake outburst floods (GLOFs) in Pakistan's northern areas where average temperatures continue to rise and cause glaciers to melt at a much faster rate, reports the Express Tribune.
India, one of the board members of the body representing the Asia-Pacific region along with China and Saudi Arabia, opposed the project calling it 'technically flawed'.
According to MoCC sources, when Pakistan's proposals came up for discussion at the board, India's representative Dinesh Sharma raised objections against it, pointing out that the project's success was predicated on there being no glacial outbursts during the five years of the project.
The board could not clear any project on Wednesday and postponed the decision.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
