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Ministers of Brazil, South Africa, India and China representing the BASIC Group met on Tuesday at the 27th Conference of Parties to the United Nations Framework Convention on Climate Change (COP 27) in Sharm el-Sheikh, Egypt.The ministers pledged their full support to the Egyptian COP27 Presidency for a successful conference, which should deliver an ambitious, equitable and balanced outcome, including substantial progress towards the establishment of a financial mechanism for loss and damage. The principle of common but different responsibilities and respective capabilities, in light of national circumstances was emphasised.Ministers highlighted that despite the enormous developmental challenges and pressures of poverty eradication at a time of global economic downturn and economic recovery, the BASIC countries continue to lead from the front on climate change actions, in the context of their overarching sustainable development imperatives.Speaking on this occasion Union Minister Bhupender Yadav said, "It gives me immense pleasure to meet with you at COP27 at a crucial juncture for this conference. Our host and the COP President, the Arab Republic of Egypt, have worked tirelessly to make this COP a success.""This COP has been rightly named the COP of Implementation. As BASIC countries, we have always been for action. Unfortunately, promises, either for 2030 or 2050, have been the dominant narrative that developed countries have sought to establish. At this COP, we have been active in promoting action in key areas of relevance particularly to the majority of the vulnerable populations of the world. Adaptation and loss and damage have been of particular importance to us in this regard," the minister further added."But the focus is always on mitigation, in one way or the other. So, I wish to elaborate on issues related to mitigation briefly. First of all, I am happy to inform you that India is submitting its Long-Term Low-Carbon Development Strategy to the UNFCCC, which I released yesterday at our India Pavilion here at COP27," said Yadav.Speaking on low-carbon development strategy, the Union Minister said, "In order to enable us to achieve our NDC goals by 2030, we are currently pursuing low-carbon development strategy in all seven sectors. We have not focused on targets. We recognized that various factors may shift targets, including the development of technology, global economic and geopolitical trends and the extent of international cooperation. There are of course inevitable risks in the long journey to net zero. But focusing on a range of immediate actions enables us to be confident that our way forward will evolve suitably while taking into account changing circumstances.""Our initiatives include the continued expansion of renewables and the strengthening of the grid, rational utilization of our fossil fuel resources, promoting e-vehicles through major initiatives, steady increase of bio-fuel blending in petrol and diesel, and expansion of our energy efficiency across sectors and drawing in more industrial units. We have a visionary initiative in green hydrogen as the fuel of the future," he added.According to the Union Environment Minister, the Indian Government has already brought many of these initiatives to the stage of implementation."Our annual financial budget this year, for 2022-23 provides a number of examples of the efforts we are making, using our own resources in the absence of climate finance. Recognizing the critical role of solar power, the budget has sharply increased the production-linked incentive for domestic integrated solar manufacturing facilities from last year's allocation of Rs 4500 crores to Rs, 19,500 crores. In a forward-looking initiative, energy storage systems, including grid-scale battery systems are to be given infrastructure status," he said."Our rational utilization of our fossil fuel resources can also be seen in the initiatives in our budget. The first is the introduction of co-firing in all thermal power plants with biomass pellets as fuel, taking forward the current initiatives that are already under way in this respect. The use of biomass pellets in thermal power plants will not only reduce carbon emissions but also provide additional earnings for farmers, animal keeper and help reduce the incidents of stubble burning. The second is the renewed attention to coal, through four pilot plants for coal gasification and the conversion of coal into chemicals for industry that will establish technical and financial viability," he added."To drive the wide range of the proposed initiatives across the range of environment, sustainability and climate action, the budget announced that government would issue sovereign Green Bonds, as a part of government's overall market borrowings in 2022-23, for mobilizing resources for green infrastructure. The proceeds are to flow to public sector projects which help in reducing the carbon intensity of the economy. For encouraging important sunrise activity such as climate action, the government is to promote thematic funds for blended finance with the government share being limited to 20 per cent and the funds being managed by private fund managers," Yadav said.While making such determined efforts, well beyond our share of responsibility, in undertaking climate action, India would like to reiterate its position on two key issues. The first is equity and climate justice. India holds that all countries are entitled to their fair share of the global carbon budget and must stay within this in their cumulative emission. Physical access to the remaining carbon budget must be provided by developed countries reaching net zero much earlier than their current target dates. Also access to the fair share of the full budget must be provided. This can be done through extensive negative emissions and monetizing the carbon debt of the developed countries," he added.Yadav stated that we must clarify our view of Just Transition. Just transition cannot mean de-carbonization for all countries. For India, just transition means the transition to a low-carbon development strategy over a time scale that ensures food and energy security, growth and employment, leaving no one behind in the process. Any partnership with developed countries, in our view, must be based on these considerations."At COP27, we must once again impress on our developed country partners that actions are the key and not mere promises. One pledge after another, with several such pledges per COP, are not necessarily fruitful. Measuring progress through actions that then lead to direct emissions reduction - this is what the developed countries ought to demonstrate to the world. In climate action, no sector, no fuel source and no gas should be singled out for action. In the spirit of the Paris Agreement, countries will do what is suitable as per their national circumstances," he added.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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