{"id":215901,"date":"2022-11-25T20:21:57","date_gmt":"2022-11-25T14:51:57","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=215901"},"modified":"2022-11-25T20:21:57","modified_gmt":"2022-11-25T14:51:57","slug":"the-g20-presidents-responsibility-ensuring-the-delivery-of-the-new-loss-and-damage-climate-fund","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/the-g20-presidents-responsibility-ensuring-the-delivery-of-the-new-loss-and-damage-climate-fund\/","title":{"rendered":"The G20 president\u2019s responsibility: Ensuring the delivery of the new loss and damage climate fund"},"content":{"rendered":"\n

Source<\/strong>– The post is based on the article \u201cThe G20 president\u2019s responsibility: Ensuring the delivery of the new loss and damage climate fund\u201d<\/strong> published in The Indian Express <\/strong>on 25th November 2022<\/strong>.<\/p>\n

Syllabus: <\/strong>GS2- Bilateral groupings involving India interest. GS3- Environment degradation<\/p>\n

News- <\/strong>The article explains the opportunity provided by the G20 presidency to ensure concrete steps on climate change.<\/p>\n

COP27 agreed to enable financing Loss and Damage associated with climate change.<\/p>\n

What is Loss and Damage?<\/strong><\/h5>\n

It refers to the adverse impacts that vulnerable communities and countries face as a result of a changing climate.<\/p>\n

It includes the increased incidents and intensity of natural disasters and extreme weather as well as slow-onset temperature increase, sea-level rise, or desertification.<\/p>\n

What was decided at COP27 on climate change?<\/strong><\/h5>\n

The COP27 decision includes the development of a Transition Committee<\/strong> dedicated to Loss and Damage, with equal representation across rich and poor countries.<\/p>\n

This committee has been tasked with configuring institutional arrangements<\/strong>, identifying and expanding sources of funding<\/strong>, and coordinating with existing funding arrangements<\/strong>. It has to be done by COP28 in the UAE next year.<\/p>\n

How should India use the opportunity provided by the G20 presidency to ensure concrete steps on Loss and Damage provisions agreed at COP27?<\/strong><\/p>\n

First<\/strong>, develop a Global Vulnerability Index<\/strong> to climate change. Such data and research in the public domain helps map critical vulnerabilities<\/strong>. It helps to plan strategies to build resilience <\/strong>by climate-proofing<\/strong> communities, economies and infrastructure.<\/p>\n

Last year, CEEW<\/strong> developed a Climate Vulnerability Index for India<\/strong>. It was based on exposure to extreme events, sensitivity of the communities, and adaptive capacity<\/strong> of local administrations.<\/p>\n

Pressure will also be put on large emerging economies, with rising emissions, to contribute to LD financing. India must continue to press for higher volumes of international adaptation funds<\/strong>.<\/p>\n

Secondly<\/strong>,there is a need to encourage attribution science<\/strong>. The purpose is to assess whether and to what extent human-caused climate change altered the likelihood and intensity of extreme climatic events.<\/p>\n

Contributions from the Global South on global research on climate change are limited. A recent study found that only 3.8% of global climate research spending is dedicated to Africa. 78% is spent in Europe and North America.<\/p>\n

India should encourage the development of a South-led research consortium<\/strong> dedicated to scientific exploration of event attribution science<\/strong>.<\/p>\n

Thirdly<\/strong>, there is a need to promote Early Warning Systems Initiative<\/strong>. The Executive Action Plan for the Early Warnings for All Initiative, unveiled at COP27 aims to ensure every person on Earth is protected by early warning systems within five years.<\/p>\n

It has called for targeted investments of $3.1 billion during 2023-27. It could avoid annual losses of $3-16 billion against natural hazards in developing countries.<\/p>\n

The rollout of such systems with last mile connectivity in Odisha has already shown its usefulness.<\/p>\n

Fourthly<\/strong>, leverage the Coalition for Disaster Resilient Infrastructure (CDRI)<\/strong>. India founded CDRI to promote the resilience<\/strong> of new and existing infrastructure systems to climate and disaster risks in support of sustainable development<\/strong>.<\/p>\n

India can also push for a Global Resilience Reserve Fund<\/strong>. It will act as insurance cushion against severe physical and macroeconomic shocks imposed by climate risks. It can be capitalised by IMF Special Drawing Rights.<\/p>\n

What should be the way forward to fight climate change?<\/strong><\/h5>\n

L&D financing is not enough. Enhanced and accelerated emissions mitigation<\/strong> is still much needed. This is in India\u2019s development interests.<\/p>\n

In the case of technology, sectoral partnerships and technology co-development <\/strong>are likely to be the way forward. We should not wait for technologies that never get transferred.<\/p>\n

Future COPs must focus almost exclusively on ensuring delivery and accountability. Otherwise, the COP process will be lost and multilateralism<\/strong> more permanently damaged.<\/p>\n","protected":false},"excerpt":{"rendered":"

Source– The post is based on the article \u201cThe G20 president\u2019s responsibility: Ensuring the delivery of the new loss and damage climate fund\u201d published in The Indian Express on 25th November 2022. Syllabus: GS2- Bilateral groupings involving India interest. GS3- Environment degradation News- The article explains the opportunity provided by the G20 presidency to ensure… Continue reading The G20 president\u2019s responsibility: Ensuring the delivery of the new loss and damage climate fund<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[212,10500],"class_list":["post-215901","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-2","tag-indian-express","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704923363},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/215901","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=215901"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/215901\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=215901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=215901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=215901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}