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‘Developed nations must mobilize $100 bn’

India has asked developed nations to announce their pre-2020 climate action plans

Policy Pulse
Publish Date: Apr 26 2016 2:57PM | Updated Date: Apr 26 2016 2:57PM

‘Developed nations must mobilize $100 bn’

 India has asked developed nations to announce their pre-2020 climate action plans and commence task of mobilising $100 billion, lack of which will affect implementation of nationally determined contributions of developing countries.

"The developed world needs to immediately ratify the Kyoto Protocol and should present enhanced pre-2020 actions. The second urgent task to be done is mobilisation of $100 billion. Without this crucial mobilisation, many of the developing countries cannot implement their nationally determined contributions," Environment Minister Prakash Javadekar said while addressing the first Session of Major Economies Forum in New York.
Hailing the Paris Climate Agreement as 'a historical achievement', Javadekar said that early fulfillment of $100 billion each year mobilisation by developed countries is important since "without means of implementation, many countries’ contributions will not be fructified.” 
He also said that India needs time to implement the Paris climate agreement, asserting “it should not be done in haste and all countries should be allowed to follow their national processes".
"A debate about early entry into force of the Paris Agreement is unfortunate. Early ratification can be understood, but it will take time as per the national processes of approval," Javadekar said.