$2.5 tn required for India's climate change actions

NEW DELHI, December 1: Around $2.5 trillion will be required for meeting India's climate change actions in the next 15 years by using domestic resources and foreign financial commitments, Environment Minister Prakash Javadekar said today. Replying in the Lok Sabha, Javadekar said, India's Intended Nationally Determined Contributions (INDC) submitted to United Nations Framework Convention on Climate Change (UNFCCC) includes reducing emission intensity of Gross Domestic Product by 33.35 percent by 2030 from 2005. The INDCs also commit to increase the share of non-fossil fuel-based electricity to 40 percent of electric power installed capacity by 2030, enhancing carbon sink (forests), adaptation, mobilising finance, technology transfer and capacity building. "About $2.5 trillion will be required for meeting India's climate change actions between now and 2030, that is over a period of 15 years which shall be met from domestic sources as well as leveraging of financial commitments made by developed countries to mobilise $100 billion a year by 2020 for climate change," he said. On the impacts of climate change, Javadekar said that India's Second National Communication submitted to the UNFCCC in 2012 has provided projections on likely adverse effects on water resources, agriculture, forests, natural eco-system, coastal zones, health, energy and infrastructure. "The report projects a variable rate of change in agriculture production including losses in some crops, whereas Net Primary Productivity is likely to increase by an average of 30.3 percent by 2035, and 56.2 percent by 2085. "Increase in temperature is also likely to cause severe drought and flood problems. As far as health sector is concerned, malaria is projected to spread in new areas and threats of transmission are likely to increase," he said.