Recent research shows extreme weather is already costing vulnerable island nations $141 billion each year. This will rise to $1 trillion annually by 2030.
Deciding the quantum and other aspects of climate financing was one of the central aims of this edition of the climate conference, dubbed the 'finance COP' for this reason.
India’s national statement in Baku, Azerbaijan, also called on developed nations to take the lead in reducing emissions and allow adequate carbon space for developing countries.
The Independent High Level Expert Group on Climate Finance says that total climate finance requirement for these countries is $2.4 tn per year, of which $1 tn must come from foreign sources.
This program builds upon ADB's commitment to supporting Pakistan's development goals, having provided over $52 billion in public and private sector loans, grants, and other forms of financing since 1966.
Indonesia's blue carbon ecosystems house 22% of the world’s mangroves and 5% of seagrass meadows, making it one of the most important countries for ocean-based climate change mitigation.
The Paris Agreement’s goals require $3-6 trillion annually until 2050. So far, global climate finance has managed $630 billion. Scalable AI algorithms are the only solution.
While developed nations urge reevaluation of climate aid, India says there must be agreement on burden sharing among developed countries 'to establish fair share of collective obligation'.
In India, only 17% of public sector banks and 25% of private sector banks claimed to have an internal strategy for integrating climate risks into their risk management framework.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
Building on long-standing ties & Islamic solidarity, Strategic Mutual Defence Agreement comes at a time of heightened regional tensions especially after Israeli attack on Doha.
To be truly functional and durable, even eternal, a state doesn’t just need a leader, a party or an ideology. It needs functional and robust institutions.
COMMENTS