yes as modi in doing in economy and covid
but those whom paying india billions for climate change are not stupids
India among the largest recipients of climate change assistance, but a few key questions remain unanswered
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India among the largest recipients of climate change assistance, but a few key questions remain unanswered
By
G Seetharaman
, ET BureauLast Updated: Nov 25, 2017, 02:34 PM IST
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ET Bureau
Climate change negotiations are often fraught with tension. Developing countries want the developed world to pay for their carbon emission-fuelled industrial growth, while the US and Europe want emerging economies like
India to commit to sustainable growth.
Central to this debate is how the developed countries should “pay” and one way is for them to provide funds to middle-income and low-income nations to mitigate and adapt to climate change. That, in a nutshell, is
climate finance.
This may sound simple, but the reality is anything but. Despite the concept of climate finance being as old as the United Nations Framework Convention on Climate Change (UNFCCC) itself, which turned 25 this June, experts are still grappling with what can be categorised under climate finance.
“Developing countries have been pushing for climate finance to be defined, but developed countries have refused to be drawn into that debate,” says Indrajit Bose, a senior climate change research officer at Third World Network, a non-governmental organisation (NGO). The ambiguity over its definition and the absence of compulsory reporting and rigorous accounting of funding have given critics of climate finance ample ammunition.