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India is deeply committed to contributing to climate action with the urgency it demands, despite its minimal role in the climate crisis, Union Environment Minister Bhupender Yadav said on Friday. Addressing the first edition of 'Sagarmatha Sambaad', a global dialogue on climate change and its impact on mountainous regions, the minister said the global carbon budget is rapidly being depleted with developed nations continuing to disproportionately grab the meagre remaining share. The global carbon budget is the amount of carbon dioxide that can be emitted into the atmosphere while keeping the rise in average global temperature since the industrial revolution below 1.5 degrees Celsius. Yadav said the developed countries' commitments to providing climate finance, technology transfer and capacity building have been profoundly neglected, intensifying the climate crisis for which they bear far greater responsibility. The dialogue, he added, is not just a forum for discussion but a call fo
The availability of adequate and affordable finance remains a constraint in India's climate actions, the Economic Survey for 2022-23 tabled in Parliament on Tuesday said. The country's climate actions have so far been largely financed from domestic sources only, including government budgetary support, a mix of market mechanisms, fiscal instruments and policy interventions, it added. While several estimates of the required investments are indicated in the long-term low greenhouse gas emission development strategies (LT-LEDS) report prepared by India, it is important to note that all allude to a need for tens of trillions of US dollars, it said. While India is less responsible for the high stock of emissions, it has consistently engaged in demonstrating global leadership towards adopting various measures and ensuring a low-emission growth pathway, with a commitment to the net-zero emissions goal by 2070, it added. "India's climate ambitions require resources to be dedicated to the ca
UN Secretary General Antonio Guterres on Monday announced that he will convene a no-nonsense climate ambition summit in September next year where countries will have to come with credible and new action plans, with no room for back-sliders, blame-shifters or repackaging of announcements of previous years. Addressing journalists at his end of year press conference here, Guterres said climate change is an area where good news can be hard to find. We are still moving in the wrong direction. The global emissions gap is growing. The 1.5-degree goal is gasping for breath. National climate plans are falling woefully short, he said. Guterres said that going forward, he will keep pushing for a Climate Solidarity Pact, in which all big emitters make an extra effort to reduce emissions this decade in line with the 1.5-degree goal and ensure support for those who need it. There is no doubt that without it, the 1.5-degree goal will soon disappear. I have pulled no punches on the imperative for a