Editorials: Challenges to climate policy

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It is time for a candid reality check as the industrialised world has failed to meet the funding commitment

As the preparatory talks begin ahead of the United Nations Climate Change Conference (COP 29), the key questions that need answers are whether the funding commitments made by the rich nations in the past have been honoured and which direction the global efforts in fighting the climate crisis are moving. It is time for a candid reality check as the industrialised world has failed to meet the $100 billion annual commitment made over a decade ago. Given the scale of the global needs, it is a paltry amount. Even that commitment has not been fulfilled so far. The flow of funds has been erratic and inadequate over the years. The Conference of Parties (COP 29) will be held in November in Baku, the capital city of Azerbaijan, amid two big wars — the Ukraine invasion and the Israel-Gaza conflict — raging in neighbouring regions and worsening geopolitical tensions. But it is hoped that the climate summit, to be attended by representatives from 196 countries, could become an engine for peace, by finding a common ground among countries in the urgent need to tackle global heating. Setting new targets for climate finance topped the agenda at Petersberg Climate Dialogue, held in Berlin as a preparatory exercise ahead of the Baku summit. Low-income countries have long complained of the failed climate finance promises. As negotiators set their eyes on the revised commitment, it is also time to reflect and learn from past experience.

At the 2023 Climate Change Conference held at Dubai — COP28 —, the countries had agreed “to end the age of fossil fuels,” keep the target of limiting the global temperatures to 1.5 degrees Celsius above pre-industrial levels within reach, triple renewable energy capacities and double improvements in energy efficiency, and halt deforestation by 2030. There is a need to establish new and innovative sources of finance while linking climate policy planning, project implementation, and public and private financing. While fighting climate change is everyone’s job, the rich and developed countries must bear the bulk of that responsibility, not just because they have caused most of the emissions but also because they have greater resources and capacity to act. As countries prepare to submit the next round of nationally determined contributions (NDCs), there must be a coordinated mechanism to support poorer and vulnerable countries in drafting and implementing their NDCs. There are multiple challenges to the international climate policy. The climate crisis is likely to exacerbate food and water shortages and could increase migration, adding to pressures on states and potentially sparking border issues. For India, the deliberations provide yet another opportunity to voice the concerns of the developing countries. India cites its low per capita emissions to counter any international demand to cap its overall emissions, arguing that it needs to lift its people to similar standards of living as in the developed countries.

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