India calls for increased climate finance – GulfToday – Gulf Today

India calls for increased climate finance – GulfToday – Gulf Today

Photo has been used for illustrative purpose.

In a statement ahead of the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change — COP27 — event in Egypt, which began on November 6, India called on rich countries to live up to their promise of providing $100 billion in annual climate finance to developing nations and urged them to increase the amount for future years at next week’s UN climate conference. In 2009, developed countries most responsible for global warming pledged to give $100 billion per year by 2020 to help developing nations deal with its consequences.

From 6 to 18 November, Heads of State, ministers and negotiators, along with climate activists, mayors, civil society representatives and corporates are meeting in the Egyptian coastal city of Sharm el-Sheikh for the largest annual gathering on climate action.

“The goal of $100 billion per