Global Climate Summit, 2020
Published: September 24, 2020
The United Nations is to hold the Global Climate Summit on December 12, 2020 and Britain is to co-host the summit. The summit is to increase momentum ahead of UNFCCC (United Nations Framework Convention on Climate change) COP 26 (Conference of Parties) that is to be held in November 2021.
The UNFCCC was established in Rio de Janeiro Brazil in 1992. The Treaty aims to reduce Greenhouse gas emissions in countries. However, there are no binding or enforcement mechanism. The parties that ratified the conference meet in the conference of parties (COP) to review the progress. So far, 155 countries have ratified the agreement. India ratified in 1993.
The first Global conference on climate change was held in Stockholm Sweden in 1972.
Kyoto Protocol was adopted during the third session of UNFCCC. The Paris agreement is at another important agreement of the conference that was adopted in 2015. It aims to reduce and mitigate Greenhouse gas emissions. However, with the current initiatives of the world countries to reduce emissions, it is difficult to achieve targets set by Paris Agreement. The COP 26 is to discuss finding solution to this issue.
Government of India
After signing the UNFCCC India adopted National environment policy in 2006 to promote sustainable development. In 2008 India adopted National Action Plan on climate change. India has made various commitments to be achieved by 2030 after finding Paris agreement. Under this India has committed itself to create an additional carbon sink of 2.5 million tonnes to 3 billion tonnes of carbon dioxide through additional forest cover.
India has also been instrumental to form the coalition for disaster resilient infrastructure.
Green Climate Fund
It was established under the framework of UNFCCC. The main objective of the fund is to support project programs policies and activities in developing countries. The major concern being raised about the fund is start it has begin to Axis Bank lately that seeks returns on investments.