What is COP 24?

24th Conference of the Parties to the United Nations Framework Convention on Climate Change
(UNFCCC) is informally termed as COP 24.

Decisions are taken by the COP which ensure effective implementation and their review as well
regarding the provisions of the Convention.

Why is COP 24 is so important?

COP24 must unleash the full potential of the Paris Agreement by finalizing the Paris Agreement
Work Programme. This will put into place the practical implementation guidelines needed to
track progress and ensure that climate action is transparent. This in turn will build trust and send
a signal that governments are serious about addressing climate change. COP24 also needs to
establish a clear way forward on climate finance to ensure greater support for climate action in
developing countries.

By finalizing the Paris Agreement, COP 24 helped to achieve its full potential. It helped in
framing guidelines and other by laws required to keep an eye on the progress and ensure a
transparent climate action plan pertaining to practical issues that arose with their implementation.
In turn, it portrays that governments are taking climate change issues seriously. COP24 also
supplements greater support in developing countries regarding similar issues.

India’s action on Climate change at COP24

International public finance flows from developed to developing countries critical for urgent
action on climate change, says India at the 24th COP on climate change at Katowice in Poland.

At the 24th COP on climate change held at Katowice, Poland, India said that international public
finance flow is very critical to flow from developed countries to developing countries.

‘3 Essential ‘S’ of Climate Finance - Scope, Scale and Speed: A Reflection’ released on sidelines
of the ongoing conference, the Ministry of Finance called for more credible, accurate and
verifiable numbers on the exact size of climate finance flows from developed to developing
countries.

Ministry of Finance released ‘3 Essential ‘S’ of Climate Finance - Scope, Scale and Speed: A
Reflection’ during the ongoing conference. It contained more accurate, credible and verifiable
numbers indicating the exact finance flows.
One of the major tasks before the 24th COP is to finalize the implementation guidelines for 21st
Paris COP, in which finance is a key component. The developed countries had committed to
$100 billion per annum for climate adaptation and mitigation by 2020.

Finance is a key component in the implementation guidelines of 21st Paris COP which are yet to
be finalized before the 24th COP takes place. $100 billion per annum were committed by the
developed countries for climate adaptation by the year 2020.

While the funds are yet to be fully disbursed, there has been a continuing lack of clarity on how
this climate finance should be defined and accounted, as serious concerns have been raised over
self-reporting by the developed country parties.

Grave concerns have been raised by the developed countries over self-reporting of accounting
related to this climate finance even when the funds haven’t been released by them yet owing to
the ambiguity in definitions and accounting procedures.

The report cites a ‘roadmap to US $100 billion’ published by the developed countries in 2016,
which claimed that public climate finance levels had reached $41 billion per year in 2013-
14.However, a government of India Discussion Paper in 2015 noted that the only credible
number is $ 2.2 billion in 2013-14, taking into account country disbursements of actual climate
finance on a concessional basis.

Developed countries published a report in 2016 which cites ‘roadmap to US $100 billion’ which
claimed that by the year 2013-14 the public climate finance levels had already reached $41
billion per year. Although, as acclaimed by a Government of India Discussion Paper published in
2015, in 2013-14 only $2.2billion was disbursed in reality.

“The definitions of climate change finance used in various reports were not consistent with the
UNFCCC provisions and the methodologies used were also questionable,” stated the report,
highlighting that till 2017, only around 12 per cent of total pledges to multilateral climate funds
have actually materialized into disbursements.

Report clearly stated that the definitions of climate change finance was not consistent with the
UNFCCC provisions. Questions were raised for the methods used as well. It also emphasized
upon the fact that till 2017, barely 12% of total pledges were materialized into disbursements.

Underlining the need for a robust accounting framework for transparent reporting of climate
finance, it states “modalities for accounting of financial resources cannot be at the discretion of a
particular country.”

Showing acute requirement for a sturdy accounting framework that adheres with provisions as
stipulated by UNFCCC, the report stated that particular countries cannot use modals as per their
needs.
The report also contends that “the value of climate finance flows must be counted as actual
disbursements of such finance crossing borders in a particular year and not as multi-year
promises, pledges, and/or other indefinite commitments.”

Even as developing countries are racing against time to decarbonize their economies and shift to
renewable energy, the Ministry states that the climate finance goal of $100 billion is a meagre
amount in size in contrast to the actual needs assessed for developing countries in trillions of
dollars, “We have to be much more serious in this business. Climate finance targets need to be
set high in order for climate justice to be delivered for poorer countries and future generation,” it
stated.

The ministry states that the $100 billion goal for climate finance is a scanty amount in size as
compared to the trillion dollar needs for developing countries. They added, targets for climate
finance should be set higher to deliver justice to the poorer countries.

While developing countries like India have been taking many actions against climate change and
adapting to its adverse effects best to their own abilities and national circumstances, they have to
be supported by climate finance flows from developed countries.

Although developing countries like India have been taking continuous actions against climate
change, they still need ample support from developed countries to cope up with its adverse
effects.

“It is time for the developed countries to wake up and take note of the huge challenge faced by
the developing countries for mobilization and provision of financial resources,” stated the
report.

The report stated that its high time that developed countries wake up and notice the humongous
challenges faced by developing countries pertaining to financial resources.

Minister’s Statement:

The Ministry has launched a nationwide campaign in preserving and protecting the environment
called the Green Good Deeds Movement.

A nationwide campaign was launched by the ministry for protecting and preserving the
environment under the name ‘Green Good Deeds Movement’

This campaign was prepared to inspire, encourage and involve each and every individual of the
society to realize people’s participation in accomplishing the goals.
This campaign was launched with an inherent purpose to encourage, inspire and ask participation
from each and every individual to help them realise the importance of their roles in
accomplishment of goals.

India’s leadership in global climate action has been recognized and Prime Minister Narendra
Modi has been bestowed with “Champion of Earth Award” this year by the United Nations in
promoting International Solar Alliance and resolve to make India plastic free by 2022.

Indian Prime Minister Narendra Modi was awarded “Champion of Earth Award” this year by the
United Nations whereby India’s leadership in global climate action was also commended for
promotion of International Solar Alliance and commitment for making India plastic free by the
year 2022.

Why will there be a 2019 climate summit?

In September 2019, United Nations Secretary-General António Guterres will convene a climate
summit to mobilize political and economic efforts at the highest level possible to strengthen
climate action and ambition worldwide. Even if all the commitments made by countries for the
Paris Agreement are achieved, the world will still be on a course to warm by more than 3°C this
century. In advance of the 2020 deadline for countries to raise their commitments in their
national climate plans, the Summit will focus on practical initiatives to limit emissions and build
climate resilience. The Summit will focus on driving action in six areas; namely, energy
transition, climate finance and carbon pricing, industry transition, nature-based solutions, cities
and local action, and resilience.

United Nations Secretary-General António Guterres will conduct a climate summit in September
2019 to strengthen actions and ambitions for climate change program at the highest possible
levels. Despite the fulfillment of commitments made by all countries in the Paris Agreement, this
century, the world will be warmer by more than 3°C. This summit will focus upon practical
options to limit harmful emissions and achieve climate resilience prior to the 2020 deadline for
countries. The summit will be convened to discuss upon the following six areas: energy
transition, climate finance and carbon pricing, industry transition, nature-based solutions, cities
and local action, and resilience.