Need genuine climate change financing: FinMin

A day ahead of the crucial climate conference in Paris, Economic Affairs Secretary Shaktikanta Das today pitched for "genuine provision" of climate change finance from developed to developing countries and not "clever accounting".
Das said clean technology is important and not unreasonable standards which create markets for developed countries and escalate growth costs for others.
"Need credible, accurate & verifiable method of measuring true size of climate change finance flows from developed to developing countries," he said in a series of tweets.
"Need genuine provision of climate change finance from developed to developing countries as per commitment and not clever accounting," he said.

The secretary said that Organisation for Economic Co-operation and Development (OECD) report on climate change finance provided by developed countries suffers from overstatement of numbers and double counting.
Commonwealth countries have pledged billions of dollars to fight global warming, including the highest USD 2 billion assistance by Canada, to help developing countries limit green-house gas emissions.

The UK has committed 21 million pounds for disaster management and 5.5 million pounds for the ocean-based economy.
Australia has committed USD 1 million for a new Commonwealth idea -- a Climate Finance Access Hub.
India has been consistently maintaining that developed countries must ensure financing and technology transfer to developing countries to help them bringing down carbon emission.