“We have seen India’s commitment to its environmental policies… There are many issues to discuss here… there is loss and damage, also the issues of the last COP like article 6 and the climate finance associated with developing countries, those issues too will be discussed at the COP,” he said.
Article 6 regulates voluntary cooperation between countries to achieve their Nationally Determined Contributions (NDC) to reduce emissions.
It incorporates both market mechanisms and non-market approaches, including cooperation in areas such as finance, technology transfer and capacity building.
He did not respond to questions from PTI on what stand India is expected to take on the Loss and Damage fund.
However, it is learned that India is expected to advocate for greater scope in the Loss and Damage Fund (LDF) to compensate developing nations due to climate change to ensure inclusiveness for them.
At COP27 last year, the Parties agreed on the Loss and Damage Fund to provide financial assistance to developing nations suffering from adverse effects of climate change.
The operationalization of the global loss and damage fund (Loss and Damage Fund) will be a key focus at COP28, including consideration of eligibility requirements, funding sources, the scope of the fund and whether the World Bank will serve as interim trustee and host of the fund for an initial four-year period, a senior UN official told PTI.
A key focus for COP28 lies in tripling renewable energy targets by 2030, with India fully committed to this ambitious target and well positioned to achieve it, said the official, who did not want to be identified.
The current COP Presidency has prepared a draft proposal for the operationalization of the fund for loss and damage, which confirms what the technical committee on loss and damage fund recommended in its last meeting, that the World Bank be the temporary host of the fund.
It also said that if the board that would be set up to oversee the fund finds the work of the World Bank satisfactory, then it will become the permanent host. Dubai is abuzz with activity as the highly anticipated annual climate talks, COP28, kick off in full swing here.
About 70,000 delegates from nearly 200 countries are expected to take part in the global conference, which will begin on Thursday and run until December 12.
Heads of state and government, including Prime Minister Narendra Modi, King Charles III of England, Brazilian President Lula da Silva, and Spanish Prime Minister Pedro Sanchez, are expected to attend the climate summit.
The leaders will be actively engaged on December 1 and 2, participating in the Global Climate Action Summit. Subsequent days will witness closed-door discussions between officials and experts, with significant high-level political decisions expected in the final days to shape the resolution. PTI UZM AMS AKJ
(This story was produced as part of the 2023 Climate Change Media Partnership, a journalism fellowship organized by Internews’ Earth Journalism Network and the Stanley Center for Peace and Security.) AMS