India will use the United Nations climate conference next week to push rich countries to keep their promise. The rich countries last year in Glasgow repeated their promise from 2009 that they are to provide $100 billion per year in climate funds to help developing countries. Thus, if they want poor countries to deal with climate change and to make a transition to cleaner energy, then they’ll have to pay for it, two government sources said to the media.
According to the sources, at the COP27 event, New Delhi will also reiterate its commitment to doing everything possible to help slow global warming.
The cost of both decarbonization and dealing with the effects of climate change will be enormous, said one of the sources. And that is why those who have contributed disproportionately to greenhouse gas emissions should not delay funding of others.
That is why, he added, India will speak for itself and other developing countries to ensure that there is a clear, comprehensive roadmap for the funding. And the funding should begin immediately.
The developed countries who were most responsible for actual global warming and climate change pledged in 2009 to provide $100 billion per year by 2020 to assist developing countries in coping with the effects.
Years passed, and climate funds were forgotten
Since nothing came up from that commitment, and after many years it has yet to be fulfilled, that provoked mistrust and reluctance among some developing countries.
Now, most developing countries are asking why should put an effort to accelerate their emissions reductions.
They know that if they give up fossil fuels too early it will push them into deeper poverty than they already are.
According to Our World Data, India is the world’s third-largest emitter of greenhouse gases after China and the United States though it ranks much lower in terms of emissions per capita.
It has increased its use of renewable energy, but coal remains India’s primary fuel for power generation as the country strives to provide energy to its 1.4 billion people using a less expensive fuel.
India took steps to meet climate goals
According to the sources, India has already taken steps such as meeting half of its energy demand with non-fossil fuels. Also, India plans to construct 500 gigatonnes of non-fossil energy capacity by 2030.
These objectives necessitate a significant investment. That is why it is of high importance to put pressure on rich countries to finance climate actions with the climate funds they have promised. Developing countries expect that, said the second source from the Indian government.
Developed countries must also recognize that overall costs have risen in the meantime. Thus, the pledge to provide $100 billion per year cannot remain the same. If the cost rise, the funds should rise too.