Important to see how COP30 delivers on climate finance target of USD 1.3 trillion per year by 2035: Vishwas Chitale

New Delhi [India], September 3 (ANI): Ahead of the COP 30 Climate Change Conference, which is going to be held in Belem, Brazil, from November 10 to 21, Fellow of the Climate Resilience of CEEW, Dr Vishwas Chitale, shared his insights on the upcoming COP30 conference.

Speaking with ANI, Chitale said that COP30 will focus on synergies, particularly those related to Rio, which aim to improve land-use and land-cover practices while promoting climate action and community resilience.

He also emphasised that one of the crucial aspects of COP30 will be delivering on the climate finance target of $1.3 trillion per year by 2035. This target is part of the New Collective Quantified Goal (NCQG) agreed upon at COP29 in Baku, Azerbaijan.

I think COP 30 is going to be much more around synergies. I think they are talking about RIO synergies, where climate action, community resilience and as a whole, how we can improve the land use and land cover practices, etc. So that the overall agenda of COP 30. But I think it going to be very important to see how COP 30 delivers on this climate finance target of 1.3 trillion, and can we see some action happening on that? Chitale told ANI.

The Loss and Damage Fund, initiated at COP27, saw some progress in Dubai, but further action is needed to translate this into tangible benefits, especially considering the 2030 target.

Even on the loss and damage fund, which was initiated in COP 27, we saw some action in Dubai COP. But how does it really translate in taking it further, and especially looking at the target of 2030, I think COP 30 has a lot to deliver on that. Chitale added.

He further added that, as a leader of the Global South, India is expected to play a significant role in negotiations, voicing concerns on loss and damage, adaptation finance, and prioritising the needs of developing and least developed countries.

I think India is definitely having a lot of voice from the Global South. Therefore, we can expect India to lead some of the negotiations from the perspective of developing countries and effectively voice concerns regarding loss and damage, as well as the need for adaptation finance, which is currently lagging. Additionally, to examine how India prioritises developing and least developed countries at the forefront of these discussions. I think as a leader of the Global South, we have a lot of responsibility to deliver on that, said Chitale.

While discussing the climate resilience agenda, Nitin Bassi, Fellow for the Sustainable Water Team at CEEW, noted that in light of the landslides occurring in many parts of India and the prevailing situation due to heavy rain, COP30 provides a platform for such resilient interventions.

This time, the focus is also going to be on climatic resilience. The situation in India in August was marked by heavy rains, which led to landslides in many places. In some areas, the excessive water caused widespread destruction, including the collapse of villages. COP30 provides a platform to talk about such resilient interventions and ensure that in the future, our cities are better prepared to handle such situations, Bassi told ANI.

Meanwhile, Kenneth Felix Haczynski Da Nobrega, Ambassador of Brazil to India, stated yesterday that Brazil and India share a significant responsibility in addressing global challenges, such as climate change.

Additionally, Andre Aranha Correa Do Lago, President of COP30, emphasises that multilateralism is crucial for countries like India and Brazil.

I think that for most developing countries and even more for economies like Brazil and India, multilateralism is extremely important. Therefore, we need to ensure that COP30 restores trust in multilateralism, so that we can no longer believe that unilateral measures are the answer. We need to prepare the world with multilateral solutions, and I think this is the very first thing we want to achieve, Lago told ANI.

India will likely lead negotiations from the perspective of developing countries, emphasising the need for adequate adaptation finance and support for loss and damage.

Under the leadership of Prime Minister Narendra Modi, India has formed a coalition for disaster resilience infrastructure, which is making excellent progress in this area.

Mobilising $1.3 trillion annually by 2035 will require a concerted effort from both public and private sources, including the development of innovative financial instruments and mechanisms. (ANI)

Disclaimer: This news article is a direct feed from ANI and has not been edited by the News Nation team. The news agency is solely responsible for its content.