Author: Times Bureau
Publication: The Times of India
Date: October 27, 2015
URL:   http://epaperbeta.timesofindia.com/Article.aspx?eid=31816&articlexml=Rich-Nations-Should-Support-Indias-Pledge-on-Climate-27102015015005

Developed nations must offer financing to buy costly technologies to combat climate change
 A key Indian policymaker has said any commitments by India to regulate its emissions without compensation from developed countries constitute a generous gesture and hence developed countries should come forward with support.

 “In sum, under established and accepted principles, the responsibility for arresting the climate change phenomenon rests principally with the developed countries,“ NITI Aayog vice chairman Arvind Panagariya said in his blog on Monday , days after India announced the Intended Nationally Determined Contributions (INDCs) to combat climate change,. According to Panagariya, if developed countries want the developing countries such as India to aggressively join hands, they must minimally stand ready to provide financing through grants for the purchase of costly technologies for mitigation.

“So far they have fallen well short of their obligation in this dimension,“ he added. Under the INDCs, India would cut its emissions per-unit of GDP by 33% to 35% by 2030 over those in 2005. Additionally , it would raise its installed electric capacity from non-fossil-fuel-based energy sources to 40% and create new carbon sink of 2.5 to 3 billion tonne of CO2 equivalent through expansion of the forest cover by 2030. The INDCs will form a part of the discussions and negotiations at the 21st Conference of the Parties (COP 21) to be held under the auspices of the United Nations Framework Convention on Climate Change (UNFCC) during 30 November to 11 December 2015 in Paris.