COP27: Enormous failure by rich nations; India can’t sacrifice its energy security, says Union Environment Minister

Ahead of the high-level segment in the ongoing UN Climate Summit, India on Monday sharply attacked the rich nations for their “enormous failure” in delivering climate finance while asserting that the country could not afford to sacrifice its energy security in the name of “urgent mitigation” as demanded by the rich nations.

"The failure to deliver financial resources to developing countries is an enormous failure. Calling for ambition from developing countries is not meaningful if the time required from low-carbon development is not recognized,” Union Environment Minister Bhupender Yadav said at a ministerial consultation at the summit.

Read | COP27: India lays out plan for long-term decarbonization

“Unfortunately, with every decade, with every new agreement, with every new scientific report, more and more action is demanded from developing countries. If goalposts are changed constantly, it will not yield results but only words and promises.”

Yadav said India’s low-carbon growth strategy was firmly rooted in the framework of India’s right to an equitable and fair share of the global carbon budget.

“We cannot have a situation where the energy security of developing countries is ignored in the name of urgent mitigation, while developed nations put their energy security above their duty to increase their ambition to mitigation through practical action,” he said at the 27th Conference of Parties to the UNFCCC at Sharm El Sheikh after releasing India’s ‘Long-term Strategy for Low Carbon Development’.

With the publication of the long-term strategy that will be submitted to the UNFCCC, India joins a select list of about 60 nations that have submitted such a document to the United Nations Framework Convention on Climate Change.

At multiple fora in the COP27, the minister and officials countered the pressure from the rich world by arguing that India’s per capita emission is too low and New Delhi barely had any contribution in historical emission causing global warming. More such pressure is expected when the negotiations start at the high-level segment from Tuesday.

The minister said that transforming India’s economy would require huge financial resources, it was regrettable that the promise of $ 100 billion was not met. More than a decade ago in Copenhagen, (COP15) the world leaders pledged a goal of providing $ 100 billion of climate finance per year by 2020 and every year thereafter through 2025.

The Paris Agreement, Yadav said, was another instance where there was a constant shift of goalposts. “The Paris Agreement has just begun implementation, and that too after the lost years of Covid-19. The first Global Stocktake is underway and will conclude next year. So why is there any need to start talking of the adequacy of the provisions of the Paris Agreement? And yet again the question is being directed at developing countries. Why?” he said.

“The real issue is that the increased effort (fund mobilisation) required is not happening. If the effort is not there, new agreements or new amendments or new protocols will not solve the problem.”