Rescue operations are underway as houses collapse in Baramati and around 30 people remain stranded in Phaltan, Satara. The districts of Pune, Solapur, Raigad, and the Mumbai-MMR region have received heavy rainfall.
The fund will help these countries cope with, recover from losses caused by climate change. India, as one of UN’s ‘developing’ nations, has expressed support for fund's operationalisation.
Wealthy nations are yet to deliver on the 2009 pledge to provide $100 billion per year for developing nations to deal with the consequences of rising temperatures.
Christian's Aid findings come a month after the COP27 agreement to establish a loss and damage fund, which is being set up to assist developing countries vulnerable to the impacts of climate change.
Loss and damages fund has long been a demand of the developing world, which is facing the brunt of climate change. At COP27, talks over the fund nearly broke down late Saturday.
COP27 president Sameh Shoukry said he has drafted texts on topics of negotiation on which no consensus had been reached & parties will be provided further opportunity to respond to them.
Financial facilities to developing countries facing debt crises was dropped from draft text, along with India's proposal to phase down 'all fossil fuels'.
By Valerie Volcovici and Aidan Lewis SHARM EL-SHEIKH, Egypt (Reuters) - Highly polluting emerging economies including China and India should pay into a climate compensation fund to help countries
Nobody is safe in a market where competition is stunted and choice limited. For the industry, meaningful reform will have to start with the government itself.
Data shows re-alignment in India’s exports, with Tamil Nadu & Telangana posting strong growth in 2024-25 as traditional heavyweights Gujarat & Maharashtra see declines. Gujarat still leads, though.
Of the total package, $649 million will be utilised for additional hardware, software, and support services, and the remaining for Major Defence Equipment (MDE).
Don’t blame misfortune. This is colossal incompetence and insensitivity. So bad, heads would have rolled even in the old PSU-era Indian Airlines and Air India.
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