Was CoP-28 a cop-out or did the conference achieve something?
Each country should ideally have a fair share of the remaining global carbon budget and adequate access to climate finance.
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Each country should ideally have a fair share of the remaining global carbon budget and adequate access to climate finance.
KATHMANDU, Dec 16: The effects of climate change on mountains have been reflected in the decisions of the United Nations Conference on Climate Change (COP-28) for the first time.
It is the term 'unabated coal' in the COP 28 outcome document that warrants focused discussion. The technical term 'unabated', although not widely understood outside this sector, will play a crucial role in shaping the dynamics of capital investment in coal sector in 2024 and going forward.
The Union minister said even though India decided to add 80 GW of coal-fired capacity by 2030, the country's total thermal capacity will come down from nearly 70% in 2014 to about 33% in 2030, which will be one of the largest reductions by any country.
The delegate for Paraguay welcomes the agreement as “auspicous” but points out that “we need to see a big increase in climate financing”.