Paleoclimatic evidences provide enough data that earth has
gone through many climate Changes in past. But Climate changes witnessed in
second half of twenty-first Century were not part of these cycles. Scepticism
exist for man’s involvement in such climate changes, Which were put to rest by
fourth assessment report of UN frame work on climate change convention.
CUNFCCE, It conclusively established that climatic aberrations, which would is
facing at large are due to addition of GHG’s in our atmosphere post industrial
revolution.
This report acted as negative feedback and many action plans
were drawn to stop such a change and preserve our mother nature. But global
economic slow down of 2007-08 and resultant recession has applied breaks to
such endeavor. To accurately judge effect of financial basis and climatechange, little history about climate change talks will help a lot.
Realizing the scale of adversity which humanity was facing
due to on going, climatic aberration, world came together and negotiated of UN
frame work convention on climate change CUN FCCC which has mandate to stabilize
GHG concentrations in atmosphere at a level that would prevent dangerous
anthropogenic interference with the climate system. Several negotiations were
held under UNFCCC but KYOTO PROTOCOL adopted in 1997 for first time set binding
obligations on industrializedcountries for educe emissions of green house
gases. Kyoto Protocol came into force on 2005. But by that time threat of
financial crisis was looming large on the world. Kyoto protocol was based on
Dynamic Integrated model of climate and Economy (DICE Model). As per DICE
Model, Countries of world were divided into Annex 2, Annex 1 and Non- Annex 1
Group. Annex-2, group consists of rich industrialized countries having two
broad obligation viz. Reduction in emission, and technical and financial
assistance to developing countries. Annex -1 group consists of industrialized
countries and economics in transition having same set of obligation as Annex-2
countries in reduction of emission but they have freedom to choose base year
for such reduction. Under Kyoto protocol annex-1 group has no financial
obligation. Non annex-1 group consists of LDC’s which have general obligation to
minimize emission as far as possible, protect forests and other carbon reservoirs
and report on their emissions and their actions under Kyoto framework, another
additional source of funding was also provided under Act-12. Act-12 adopted
clean development mechanism (CDM) which was market based instrument for annex-2
countries to achieve their emission targets. Act, 12 also included a mandatory
adaptation fee on each project under CDM, which will be paid into adaptation
fund.
Climate change talks were now established on set pattern but
problem came from Western Hemisphere specially USA which have yet to reality to
the protocol and also was in middle of financial crisis. USA was against china
and India to be put under annex-1, countries as it rerouted that they are among
largest polluters. Soon, Canada also withdrew from Kyoto protocol sighting its differences
from same perspective. So economic slowdown was one of main reason, which curtailed
any gam from climate change negotiation.
Conference of parties- 15 meeting at Copenhagen took stock
of situation and agreed to establish Green Climate Fund (GCF) under UNFCCC. GCF
based in in Incheon, South Korea has two set of line of finance- Fast start
finance and long-term finance. Under fast start finance, collective pledge of
30 billion was agreed for period 2010-2012. But all credible resource points
that target is far from achieved under long-term finance, pledge of 100 billion
by 2020 is agreed upon. If precedents are anything of sign, than this pledge
will also be remain as unfulfilled promise only.
So, economic slowdown has effected in two different ways on
climate change mitigation talks. First it has reduced the funding from
developed would to developing countries and for mitigation purposes.
Secondly, it shifted the focus of world from looming climate change threat towards recovering from economic slow down. Of Course, mitigation andadaptation techniques are costly to adopt. One example is our national solar mission, inventory for which amounts to Rs 20,000 crore. To keep such huge resource separately for mitigation purpose is difficult for contrary like India, which is facing worst economic slow down of last two decades. But threat of climate change is also real which cant be put aside for tomorrow. Would has to come together to face this threat collectively otherwise damage will be beyond redemption.
Secondly, it shifted the focus of world from looming climate change threat towards recovering from economic slow down. Of Course, mitigation andadaptation techniques are costly to adopt. One example is our national solar mission, inventory for which amounts to Rs 20,000 crore. To keep such huge resource separately for mitigation purpose is difficult for contrary like India, which is facing worst economic slow down of last two decades. But threat of climate change is also real which cant be put aside for tomorrow. Would has to come together to face this threat collectively otherwise damage will be beyond redemption.
By : Prabhal Arihant
