‘Finance plan for developing nations’ SHARMA LEANS ON INDIA TO REDUCE CARBON EMISSIONS AS NEW DELHI RESISTS MOVE

COP26 president Alok Sharma said a finance plan will be put in place for developing countries ahead of the UN Climate Change conference in Glasgow later this year.

Sharma concluded a three-day visit to India last Wednesday (18), his second visit to the country this year.

The British minister met India’s new environment minister Bhupender Yadav, power minister RK Singh, commerce and industry minister Piyush Goyal and finance minister Nirmala Sitharaman.

India has resisted moves to increase its ambition on cutting emissions ahead of the COP26, instead preferring to meet already set targets.

Sharma told reporters, “I have reiterated the consistent ask that I have had with all countries – first, in terms of emission reduction targets, so more ambitious NDCs (nationally determined contributions) for 2030, net zero targets for midcentury and had a discussion around finance. It’s become very important to reiterate that delivering on that $100 billion (£85bn) a year has become a matter of trust for developing countries and we are pushing forward in putting together a delivery plan on finance, which is one of the conclusions that came out of the July ministerial meeting.”

Sharma said he requested the Indian government to aim for reducing emissions, but some reports suggest India has reiterated it wishes to raise ambitions after the review process in 2023.

Sharma added that he and his counterparts from other countries were working on a delivery plan. “At COP26, we will also have to initiate discussions on post 2025 financing,” he said.

Sharma also pointed out that Glasgow was the world’s last chance at keeping the temperature rise at 1.5 degrees.

“I’ve seen myself as a champion for developing countries. I have visited many developing nations who are on the frontline of climate change, and, of course, the world is responsible for the issues that they face right now,” he said.

India’s minister for environment, forest and climate change extended the country’s support for COP26. “India believes climate actions must be nationally determined and strongly advocates the differentiation and operationalisation of flexibility provided in the UNFCCC and the Paris Agreement for developing countries should be at the core of decision-making,” he said.