|Chennai||Rs. 27770.00 (-0.14%)|
|Mumbai||Rs. 29200.00 (2.31%)|
|Delhi||Rs. 27900.00 (-0.36%)|
|Kolkata||Rs. 28270.00 (1%)|
|Kerala||Rs. 27050.00 (-0.37%)|
|Bangalore||Rs. 27550.00 (1.66%)|
|Hyderabad||Rs. 27770.00 (-0.14%)|
The Doha talks, which were initiated with the promise of coming up with a new regime to stall the spiraling effect of climate change, failed to deliver on the promises so far. Even as the talks enter the sixth day, the Indian industry and the government are keeping their hopes low for a favourable outcome.
During the week, India’s chief negotiator Meera Mehrishi had told reporters “We are disappointed that the developed countries are in the process of locking in low ambitions under this second commitment period. We call on them to raise their level of ambition consistent with what is required by science.”
Doha started on a bad note: The US said it would not raise its weak level of commitments to cut emissions. Australia put out its Kyoto Protocol target, under which it says it would reduce emissions by 0.5 per cent below 1990 levels by 2020. During the week, the European Union said they would not step up the pledge to cut emission. It has agreed to 20 per cent carbon emission cuts from 1990 levels for the period of 2013 to 2020, a target which has already been achieved.
The assurance by climate negotiators from developed countries such as the US, Germany and the UK that their governments will continue to pay out aid aimed at helping the world’s most vulnerable countries cope with global warming failed to resonate well with the developing countries.
“Financing a key piece of the puzzle as the transition to low carbon economies will cost. But as yet, promises have been made but never delivered. Instead fast-track financing — promised by developed countries to pay for mitigation and adaptation costs — has not been additional or new. Instead, it is repackaged from existing aid,” said Sunita Narain, director general of Center for Science and Environment.
Even Indian industry bodies had been demanding clear roadmap on climate financing for a long time.