India’s expectations from COP27
India attended the opening ceremony of COP27 which kickstarted from 6th November 2022 in Egypt. Here is a curation of expectations India has from the biggest climate summit held every year.
The major facet of the summit for India would be to focus on clarifying the definition of climate finance and encourage developed nations to increase the supply of technology and funding required to combat climate change.
Following are the 9 points agenda of India at the COP27 summit:
1. Discussion on Climate Finance and its meaning.
2. Assessment of financial flow to Developing countries like India for climate mitigation.
3. Push for new global Climate finance targets, also known as the new collective quantified goal on climate finance.
4. Unanimity on a wider level of money mobilisation.
5. Setting up a range of USD 5.8-5.9 trillion till 2030 which was earlier 100 Billion $.
6. Discussion around India’s initiative of Lifestyle for Environment (LiFE).
7. Issues relating to access and suggestions for improvement in the function of the financial mechanisms.
8. Demand for transparency to ensure appropriate oversight of the quantum
9. Focus on quality, quantity, and scope of resource flow.