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India is a major player in the COP27 climate summit in Egypt

India is a major player in the COP27 climate summit in Egypt

Extreme heat of nearly 50 degrees, heavy rain, hurricanes, droughts, and floods. According to the Indian Environment Organization, Center for Science and Environment, India experiences climatic disasters almost daily. Nearly 3,000 people have died and 400,000 homes have been destroyed in harsh weather in the past nine months alone.

India was also forced to suspend rice exports, as crops were destroyed. These types of losses will cost India $87 billion in 2020, according to a report by the World Meteorological Organization.

compensation request

At COP27 in Egypt, India is expected to demand rich countries, which have mostly caused climate change, to join in and pay compensation related to severe weather.

on me The recent climate summit in Glasgow India has committed to becoming climate neutral by 2070. Indeed, the expansion of solar energy is on pace in India, improving the promise of renewables to 50 percent by 2030 instead of 40 percent.

As the world’s third largest emitter after the United States and China, India is a major player in global climate summits. So far, India’s emissions per capita are less than half of Sweden’s. But this can change quickly.

High growth and increased demand for energy

Indian growth is high compared to other major economies and India is expected to increase its energy needs more than all the countries in the coming years. Expanding renewables at the same pace is a challenge. Therefore, it is expected that India will try to increase the amount in the climate fund that the rich world has to pay to developing countries.

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The 100 million promised so far, among other things, to expand renewables, does not match the costs, according to what is known as the New Collective Quantitative Goal on Climate Finance (NCQG).

India will also take up a completely new item on the agenda, Lifestyle for the Environment (LiFE). Indian Prime Minister, Narendra Modi, has created a concept that urges the world to move from wasteful consumption to the conscious use of natural resources.