G-20: Opportunity for creating nations to mainstream local weather change agenda: Environmentalists

By PTI

KOLKATA: Environmentalists see India’s G-20 presidency as a chance for creating nations to mainstream local weather change agenda, significantly local weather financing, in view of the choice to determine a ‘loss and harm’ fund throughout COP 27 final yr.

This is particularly so, as three main creating nations together with India and Indonesia are a part of the grouping.

“The first major issue is loss and damage and the second one is how partnership for energy transition can be done”, mentioned Sanjay Vashist, director, Cansa, a coalition of over 300 civil society organisations working in eight south Asian nations.

“All countries are facing the developmental challenge and such loss and damage fund needs to be operationalised. One most important factor is the governance system of such a resource. Since G-20 countries contribute 85 per cent of the global GDP, they can build an understanding of how to replenish loss and damage,” he mentioned.

India assumed the presidency of the G20 on December 1, 2022. The troika includes Indonesia, India and Brazil, the primary time that three creating and rising economies are a part of the core group of the G-20 bloc. 

“They are the ones who decide the agenda. India will be part of the troika when the G-20 presidency moves to Brazil for the next term. So developing countries’ role within the G-20 bloc is paramount important to figure out climate finance and energy transition partnership”.

“Most of the green energy technology is with these nations and they need to decide among themselves how investments will be made in emerging countries,” Vashist instructed PTI on the sidelines of a programme organised on the Kolkata Press Club on Friday.

The occasion – G20 and Climate Change: National and Regional Perspective – was organised collectively by Cansa and EnGIO, a civil society organisation.

Climate Action Network’s international political technique head Harjeet Singh mentioned the institution of loss and harm fund is the “first big step for climate financing but the key is to operationalise the resources and promote resilient development”.

“Here comes the importance of G-20 members, particularly G-7 nations. These countries have to make sure that they are setting right path for development,” Singh instructed PTI.

Echoing Singh, Observer Research Foundation Director Nilanjan Ghosh mentioned G-20 supplies an vital platform for international south nations (creating and underdeveloped nations) to put their demand by way of local weather financing.

“The estimation of loss and damage triggered by climate change is extremely important. It is not just an assessment of economic losses like loss of properties, embankments and human livelihoods. Damage of ecosystem services has to be taken into consideration,” Ghosh, additionally the president of the Indian Society for Ecological Economics, instructed PTI.

He emphasised on the “need to find the value of loss and damage stream” for the long run.

“Global south nations such as developing and underdeveloped countries can put a right financing mechanism in the summit of nations of G-20 bloc. This is will help developing countries to raise their voices in the global negotiation system,” Ghosh mentioned.

The proposed fund would largely be based mostly on public finance but additionally modern sources comparable to shifting of fossil gasoline subsidies, placing levies on monetary transactions or air journey, and many others also needs to be explored, Singh mentioned.

“This is where G-7 countries have the largest share. According to an estimate, the finance needed for addressing loss and damage would be between USD 290-580 billion annually by 2030 for developing countries,” he mentioned.

This yr goes to be “crucial as there would be negotiations to operationalise the loss and damage fund at the earliest”, he mentioned, including that not like “Green Climate Fund which takes time to roll out projects for vulnerable people, we need different arrangements to respond to climate disasters”.

The group of seven developed nations need to “take a leading role” in establishing of the proposed fund and be sure that they “provide their fair share of finance so that the fund is up and running”, he mentioned.

Jadavpur University’s Oceanographic Studies Professor Sugata Hazra mentioned Brazil, a G20 member, was capable of deliver Amazon rainforest, regardless of its burning episode, within the thrust space of local weather change mitigation due to its carbon sequestration potential.

“Similarly, mangroves that we might be losing due to sea level rise and erosion can be a thrust area for climate change mitigation and climate financing process so that the unique biodiversity and tiger habitat is saved. It can be an important Bay of Bengal agenda in bringing mangroves into the focus area during G-20 summit,” Hazra instructed PTI.

In the final 20 years, 110 sq km of mangrove cowl with blue carbon have been misplaced from the core and buffer space of the nationwide park in Sundarbans, a Unesco heritage web site, on account of sea stage rise and erosion triggered by local weather change, he mentioned.

The time period “blue carbon” refers back to the carbon saved in coastal and marine ecosystems.

Hazra additionally questioned why not historic harm comparable to destroying of mangroves by colonisers could be raised through the summit.

“From the late 18th century to India’s independence in 1947, more than 4,000 sq km of mangrove was cut down and tigers were killed. Why not such damage will be compensated for the regeneration of mangrove,” Hazra added.

KOLKATA: Environmentalists see India’s G-20 presidency as a chance for creating nations to mainstream local weather change agenda, significantly local weather financing, in view of the choice to determine a ‘loss and harm’ fund throughout COP 27 final yr.

This is particularly so, as three main creating nations together with India and Indonesia are a part of the grouping.

“The first major issue is loss and damage and the second one is how partnership for energy transition can be done”, mentioned Sanjay Vashist, director, Cansa, a coalition of over 300 civil society organisations working in eight south Asian nations.

“All countries are facing the developmental challenge and such loss and damage fund needs to be operationalised. One most important factor is the governance system of such a resource. Since G-20 countries contribute 85 per cent of the global GDP, they can build an understanding of how to replenish loss and damage,” he mentioned.

India assumed the presidency of the G20 on December 1, 2022. The troika includes Indonesia, India and Brazil, the primary time that three creating and rising economies are a part of the core group of the G-20 bloc. 

“They are the ones who decide the agenda. India will be part of the troika when the G-20 presidency moves to Brazil for the next term. So developing countries’ role within the G-20 bloc is paramount important to figure out climate finance and energy transition partnership”.

“Most of the green energy technology is with these nations and they need to decide among themselves how investments will be made in emerging countries,” Vashist instructed PTI on the sidelines of a programme organised on the Kolkata Press Club on Friday.

The occasion – G20 and Climate Change: National and Regional Perspective – was organised collectively by Cansa and EnGIO, a civil society organisation.

Climate Action Network’s international political technique head Harjeet Singh mentioned the institution of loss and harm fund is the “first big step for climate financing but the key is to operationalise the resources and promote resilient development”.

“Here comes the importance of G-20 members, particularly G-7 nations. These countries have to make sure that they are setting right path for development,” Singh instructed PTI.

Echoing Singh, Observer Research Foundation Director Nilanjan Ghosh mentioned G-20 supplies an vital platform for international south nations (creating and underdeveloped nations) to put their demand by way of local weather financing.

“The estimation of loss and damage triggered by climate change is extremely important. It is not just an assessment of economic losses like loss of properties, embankments and human livelihoods. Damage of ecosystem services has to be taken into consideration,” Ghosh, additionally the president of the Indian Society for Ecological Economics, instructed PTI.

He emphasised on the “need to find the value of loss and damage stream” for the long run.

“Global south nations such as developing and underdeveloped countries can put a right financing mechanism in the summit of nations of G-20 bloc. This is will help developing countries to raise their voices in the global negotiation system,” Ghosh mentioned.

The proposed fund would largely be based mostly on public finance but additionally modern sources comparable to shifting of fossil gasoline subsidies, placing levies on monetary transactions or air journey, and many others also needs to be explored, Singh mentioned.

“This is where G-7 countries have the largest share. According to an estimate, the finance needed for addressing loss and damage would be between USD 290-580 billion annually by 2030 for developing countries,” he mentioned.

This yr goes to be “crucial as there would be negotiations to operationalise the loss and damage fund at the earliest”, he mentioned, including that not like “Green Climate Fund which takes time to roll out projects for vulnerable people, we need different arrangements to respond to climate disasters”.

The group of seven developed nations need to “take a leading role” in establishing of the proposed fund and be sure that they “provide their fair share of finance so that the fund is up and running”, he mentioned.

Jadavpur University’s Oceanographic Studies Professor Sugata Hazra mentioned Brazil, a G20 member, was capable of deliver Amazon rainforest, regardless of its burning episode, within the thrust space of local weather change mitigation due to its carbon sequestration potential.

“Similarly, mangroves that we might be losing due to sea level rise and erosion can be a thrust area for climate change mitigation and climate financing process so that the unique biodiversity and tiger habitat is saved. It can be an important Bay of Bengal agenda in bringing mangroves into the focus area during G-20 summit,” Hazra instructed PTI.

In the final 20 years, 110 sq km of mangrove cowl with blue carbon have been misplaced from the core and buffer space of the nationwide park in Sundarbans, a Unesco heritage web site, on account of sea stage rise and erosion triggered by local weather change, he mentioned.

The time period “blue carbon” refers back to the carbon saved in coastal and marine ecosystems.

Hazra additionally questioned why not historic harm comparable to destroying of mangroves by colonisers could be raised through the summit.

“From the late 18th century to India’s independence in 1947, more than 4,000 sq km of mangrove was cut down and tigers were killed. Why not such damage will be compensated for the regeneration of mangrove,” Hazra added.