New Delhi : It is unfair that some developed countries are using an article in the Paris Agreement to restrict fossil fuel development in developing nations while they continue to invest in fossil fuels themselves, India has said.
In a submission to the United Nations Framework Convention on Climate Change (UNFCCC) outlining its expectations from the Global Stocktake, India said developed countries are viewing Article 2.1(c) of the Paris Agreement in isolation and ignoring all other provisions on climate finance in an attempt to move away from their commitments to provide money to developing countries.
Global Stocktake is a two-year UN review to evaluate collective global progress towards achieving the goals of the Paris Agreement. This process will conclude at the end of COP28 in Dubai. Article 2.1(c) reads: "Making finance flows consistent with a pathway towards low greenhouse gas emissions and climate-resilient development." It talks about making sure money for climate action supports clean and resilient development.
India said some developed countries are focusing too much on this and not providing enough money for other important climate goals. "This is unacceptable, as it seriously undermines the obligation and efforts to mobilise climate finance by developed countries to developing countries," India said. It would mean no more support for fossil fuels, a push for net-zero emissions, and a focus on private sector financing, among other things, India said while stressing that climate finance should meet the actual needs of developing countries.
"'Paris Agreement aligned finance flows', as being read under Article 2.1 (c), is not the same as the commitment and obligation of developed countries to provide climate finance under the UNFCCC and under Article 9 of its Paris Agreement. "The singling out of 'messages on finance flows' does not address concerns of public finance and provision of support by developed countries to developing countries to achieve the pathway towards low GHG emissions and climate-resilient development," it said.