India expects considerable progress in discussions related to climate finance

Union Minister of Environment, Forest and Climate Change Bhupender Yadav will lead the Indian delegation at the 27th Session of Conference of Parties of the UNFCCC (COP 27) at Sharm El-Sheikh, Egypt from November 6 to November 18.

India is fully engaged with the process and is supportive of the efforts by Government of Egypt for substantive outcomes at COP 27, the Ministry of Environment, Forest and Climate Change said added while making the announcement on Friday.

At the meeting, India expects considerable progress in discussions related to climate finance because the target of USD100 billion in annual climate funding by 2020 and every year after that through to 2025 has not yet been reached.

Several estimates of what has flown as climate financing are available because of a lack of general understanding. While the specified sum must be fulfilled as soon as feasible, there is a need to significantly increase ambition in order to guarantee adequate resource flow for the next quantifiable target beyond 2024.

Additionally, India is also expected to hold discussions on climate financing's meaning. Furthermore, India would back the Egyptian Presidency's initiative to build a strategy that addresses the needs of emerging nations.

At the meeting, India will also reiterate its invitation to join the pro-people and pro-planet "LiFE movement," which aims to change the globe from mindless and wasteful consumerism to mindful and purposeful exploitation of natural resources, to all nations.

According to the official press release from the Ministry of Environment, Forest and Climate Change, India is dedicated to both domestic and multilateral action on climate change and will keep fighting for the protection of the planet's ecology.

The ministry added that global warming also serves as a warning that prosperity depends on equity and global collaboration, leaving no one behind, and that the fortunate must set the example.