Developed nations failed to meet financial support commitment: India at COP 26

Glasgow: India highlighted the failure of developed nations in meeting their financial commitment of USD 100 billion per year made to the developing nations since 2009.

Union Environment Minister Bhupender Yadav, who represented India at Conference of Parties (COP 26) meet said, “developed nations have not only failed to meet the $100 billion goal per year of support to developing nations since 2009 but also continue to present it as ceiling of their ambition all the way to 2025.”

Yadav made the statement on behalf of the BASIC group of countries – Brazil, South Africa, India and China – at the opening plenary session of COP 26, which began on Sunday.

“In a context where developing countries, including BASIC countries, have massively stepped up their climate actions since 2009, it is unacceptable that there is still no matching ambition from developed countries on the enabling means of implementation on climate finance support,” Yadav said.

The minister reached Glasgow on October 29 to attend the COP 26 to the United Nations Framework Convention on Climate Change (UNFCCC), which is being presided over by the UK and will end on November 12.

Prime Minister Narendra Modi, who is also attending the crucial conference, will be addressing leaders from nearly 200 countries on November 1 and 2.

At the plenary on Sunday, the environment minister also highlighted that even though COP 26 has been delayed by a year, parties have already commenced implementation of their nationally determined contributions (NDCs) and therefore, it is crucial that the Paris Agreement Rulebook is concluded at COP 26.

“In doing so, full effect must be given to implementation of the principles of equity and Common but Differentiated Responsibilities and Respective Capabilities (CBDR-RC) and, recognition of the very different national circumstances of parties,” he said in a statement.

Yadav underlined that developing countries must be accorded time, policy space and support to transition towards a low emissions future.

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