Paris Agreement : Difficulties

  • About 100 Nationally Determined Contributions (NDCs) under Paris deal has clause which states that NDC will be implemented only if financial and technical assistance is provided from developed world.
  • Periodic review of Paris Agreement’s implementation is subject to work already done. Agreement would collapse if timely assistance is not provided to developing nations.
  • India needs $2.5 trillion to carry out its climate actions until 2030
Role of Green Climate Fund:
  • GCF has approved projects worth $2.3 billion till now.
  • The GCF has the ability to bear risks, support innovation and leverage its own funds for further support, therefore making it a vital agency for poor countries.
  • While there are some reports that private funding for the GCF will increase, these are not likely to support adaptation and will focus on actions that bring returns on investments. Thus, funds from advanced economies remain crucial
  • US has made a pledge of $3 billion towards GCF in 2014 which is about $10 per capita. This is very low as compared to European nations.
  • Constraints in the flow of funds will prevent even the minimal level of support to deal with climate change
  • The fact that all countries have responsibilities has been recognised in the Paris Agreement and we are all pulling the ship, but the rich countries, especially the U.S. and European nations, have to do their fair share for the world to set along a new path towards zero emissions.
  • India or any other developing country simply recommitting to implement its NDCs will not accomplish much, since without help we cannot go far and need the assistance that is owed to us

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