UN Framework Convention on Climate Change Conference

Why in news?

The conference of the UN Framework Convention on Climate Change recently ended in Bangkok.

What were the outcomes of the meet?

• The purpose of the meet was to draft a rulebook for the Paris Agreement ahead of a crucial international conference in Poland in December.
• But it ran into difficulties over the issue of raising funds to help poorer nations.
• Some developed countries led by the U.S. are unwilling to commit to sound rules on raising climate finance.
• Earlier, U.S. under the Trump administration, has rejected the Paris agreement in which the rich countries pledged to raise $100 billion a year by 2020 to help developing countries reduce their greenhouse gas (GHG) emissions.

Why it is unfair on the part of developed countries?

• Historical the developed countries have contributed heavily to the accumulated CO2 burden.
• It now measures at about 410 parts per million(ppm) of CO2 in the atmosphere, up from 280 ppm before the industrial revolution.
• If scientific estimates are correct, the damage already done to the West Antarctic Ice Sheet is set to raise sea levels.
• A 2° Celsius rise in global temperature will also destabilise the Greenland Ice Sheet.
• This will also drive more mass migrations of people on account of failed agriculture and the associated conflicts.
• Hence the developed countries are ignoring their historical responsibility.
• Obstructing the transition to a carbon-neutral pathway is also short-sighted, simply because the losses caused by weather events are proving severely detrimental to all economies.
• Additionally, walking out of developed countries have created a financial and leadership vacuum.
• This was followed by other developed countries that are unwilling to create sustainable financial commitment to realise the objectives of Paris agreement.

What are the responsibilities of India and China in this regard?

• There is international pressure on China and India to cut GHG emissions.
• Both countries have committed themselves to a cleaner growth path.
• India reported an annual CO2 equivalent emissions of 2.136 billion tonnes in 2010 to the UNFCCC two years ago.
• Recent estimates show that the GHG emissions intensity of its GDP has declined by 12% for the 2005-2010 period.
• China has suspended construction of 103 new coal-fired power plants last year, and announced plans to invest more than $360 billion into renewable energy by the end of the decade.
• Both have the responsibility of climate leadership in the developing world and Innovative instruments (climate bond, social impact bond, catastrophic risk insurance, etc.,) could be leveraged to realise a “Green Economy”.
• It needs to be accompanied by a supportive framework in the form of a rulebook that:
• Binds the developed countries to their funding pledges.
• Provides support for capacity building.
• Transfer of green technologies on liberal terms.
• Thus the responsibility lies in the domain of both developed and developing countries to go beyond expediency and take the actions needed to avert long-term catastrophe.

Source: The Hindu

Quick Facts

India’s Intended Nationally Determined Contributions (INDC)

• To reduce the emissions intensity of its GDP by 33 to 35 per cent by 2030 from 2005 level.
• To achieve about 40 per cent cumulative electric power installed capacity from non-fossil fuel based energy resources by 2030.
• To create an additional carbon sink of 2.5 to 3 billion tonnes of CO₂equivalent through additional forest and tree cover by 2030.