India once again raised the issue of money, this time at the stocktaking plenary of COP26, and noted "disappointment at the lack of significant progress in climate finance-related agenda items".
Lead negotiator for India, Richa Sharma, said that the summit needs to "deliver a strong message regarding our collective resolve for accelerated mitigation and adaptation actions in this decade" but that this message "will have credibility only if accompanied by an equally strong resolve of developed country parties to mobilize and provide enhanced climate finance to developing country parties."
She said that India added its voice in support of other parties and groups like LDCs that have called for continuation of the long term finance agenda under the convention; for a mandate to the standing committee of finance to deliver a multilaterally agreed definition of climate finance, and for a structured process that will deliver the new quantified goal for climate finance well before 2025.
Sharma once again brought up India's outlook regarding "historical responsibility", a phrase that didn't find mention in the Paris Accord after US president Barack Obama asked Narendra Modi to withdraw those words that India had been insisting upon.
She said that "the overwhelming role of historical cumulative emissions in bringing the world to 1.1 degrees rise in temperature must be noted and urgency in ambition must begin with actions of developed country parties."
Sharma reiterated India's stand that in reaching net-zero, developed countries must stay within their fair share of the global carbon budget, enabling access to carbon space for developing countries. She said the quickest way for the world to get to net-zero was for developed countries to reach net-zero much before 2050.
"The meagre carbon budget is first and foremost the right and entitlement of developing countries. Hence, rapid mitigation actions by developed countries in this decade is vital to keep 1.5 degrees within reach."
