At COP 27 India seeks clarity on climate finance

Apart from seeking a clear definition on climate funding to the smaller, under developed nations, Union minister Bhupendra Yadav, at the ongoing COP 27, said that India “looks forward to introduction of new technologies, and new collaborations to facilitate technology transfers.”

COP 27 India

Photo Source: PIB

New Delhi, November 7: The 27th edition of the Conference of Parties or COP commenced at Sharm el Sheikh, Egypt on Sunday. With the theme “Together for implementation”, over 200 countries are participating in the COP 27 summit.

The COP 27 summit will be a crucial juncture for India. Earlier in November, the Union Minister for Environment, Forest & Climate Change Bhupendra Yadav said that India’s focus will be on bringing clarity on the definition of climate finance & transparency in the process of fund distribution.

The Indian government, in 2021, joined hands with developing nations to push for a climate disaster funding from developed nations on the “polluters pay” policy. In the current edition of COP, developing & underdeveloped nations are looking for higher climate finance from rich nation. This is to tackle the extremes of climate change caused by the world’s major polluting countries.


Leave a comment

Subscribe To Newsletter

Stay ahead in the dynamic world of trade and commerce with India Business & Trade's weekly newsletter.