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Why definition of climate finance remains a major bone of contention at COP27 talks
12 Nov 2022
| The Print
The interest in keeping the definition of climate finance ambiguous maintains the status quo, where a majority of loans can pass off as climate finance, say experts. Mr Dipak Dasgupta, Distinguished Fellow, TERI and former negotiator for India, says, Industrialized countries believe that so long as the source is from a developed country, everything counts. Which means there is no concessionality, additionality, you should only factor in finance flows of that origin, and that's enough, said
Read moreIndia at COP27: In need of investors’ confidence to achieve climate financing goals
11 Nov 2022
| PV Magazine India
Dr Vibha Dhawan, Director General of TERI, gave the keynote address at the panel on ‘Building Investor Confidence for Enhancing Climate Finance by Leveraging Global and National Frameworks on Corporate Sustainability Disclosures’ where she emphasized the early stages of ESG that corporates are still working to understand.
Read moreWhat the COP of implementation failed to achieve
10 Nov 2022
| India Spend
Besides a fund for climate-induced losses in vulnerable countries, the climate conference failed to get commitments for a scale-up of climate financing, to expand the coal phase to other fossil fuels, and stronger action to control the rise in global temperatures. Mr Dipak Dasgupta, distinguished fellow, TERI said that finance was uppermost on everyone's minds and a critical need of the hour, but nothing substantively new emerged.
Read moreGreen investments. Climate Financing: India’s stand at COP27
09 Nov 2022
| The Hindu Business Line
Finance will be a dominating theme in the COP27, currently underway at Sharm el-Sheikh, Egypt. At a recent webinar hosted by Climate Trends, a capacity-building company based in Delhi, R R Rashmi, Distinguished Fellow, TERI India and a former representative of India at climate talks, noted that the capital flows to the Green Climate Fund (GCF) have been very little. Only $3–4 billion of GCF's $10–12 billion overall capitalization has come from external sources.
Read moreCOP27 to make headway on climate finance, loss and damage: TERI
09 Nov 2022
| EPR Magazine
Considering the particularly fraught world in which COP 27 is set to unfold, and the continuing and devastating impacts of extreme weather events felt across the globe, it is imperative that the session at Sharm el-Sheikh engages with and tries to resolve issues related to long-term climate finance and the mechanisms for loss and damage, says Dr Vibha Dhawan, Director General, TERI.
Read moreHope and opportunity amidst mounting climate crisis
08 Nov 2022
| The Hindu Business Line
This year's COP will be primarily focused on enabling climate finance, and India will push for better financing options and opportunities for G20 nations. Mr R R Rashmi, call for setting a principle of finance. Just like there is a principle for nationally determined contributions, he argued there must also be a principle for contribution, which right now doesn’t exist.
Read moreExplained: Why India is a key player at COP27
07 Nov 2022
| First Post
“The figure of USD 100 billion for developing countries was agreed upon much before the Paris Agreement was signed. Based on the Nationally determined contributions (NDCs), the total cumulative financing requirements of the developing world is anything in the range of USD 5.8-5.9 trillion till 2030,”said Mr R R Rashmi, distinguished fellow, TERI, and former climate negotiator under UNFCCC.
Read moreCOP27: UN climate summit opens with little hope of success
07 Nov 2022
| The Third Pole
As nations gather for COP27 in Egypt, the failure of rich countries to keep promises – partly due to Russia’s war in Ukraine – has led to scepticism in a year marked by repeated climate disasters in South Asia. In a recent webinar, Mr Dipak Dasgupta, TERI, addressed the question of where this money might come from, stating that the majority of the money will have to come from private sources, but the public money that developed countries promised is crucial as a guarantor of the loans that
Read moreClimate and Us | COP27: A win for Loss and Damage, but fight for equity remains
07 Nov 2022
| Hindustan Times
While Loss and Damage funding being added to the official agenda is historic, financing mechanisms to ensure powerful outcomes remain elusive. The inclusion of the loss and damage issue as a topic on the COP agenda is welcomed, but Mr R R Rashmi, Distinguished Fellow, TERI, notes that this is linked to the outcomes of the CMA, Conference of the Parties serving as the meeting of the Parties to the Paris Agreement, which is different from COP.
Read moreCOP27 climate summit: What India can expect at UNFCCC meet in Egypt?
06 Nov 2022
| Business Standard
Climate finance is necessary for mitigation because large-scale investments are required to reduce emissions significantly. Mr R R Rashmi, Distinguished Fellow at The Energy and Resources Institute, said India hasn't benefited much from the $100 billion climate finance.
Read moreClimate finance: What India aims to achieve at COP27
05 Nov 2022
| Deccan Herald
The absence of a definition allows developed countries to greenwash their finances and pass off loans as climate-related aid. According to Mr R R Rashmi, Distinguished Fellow, TERI, and former climate negotiator under UNFCCC, any consensus on an enhanced scale of financial mobilization could be a welcome takeaway from COP27.
Read moreAt UN climate summit, India to flex its negotiating muscles
28 Oct 2022
| The Washington Post
Some groups of countries tend to think that all the financing for fossil fuels should be stopped and restricted. The problem with this, among other things, is that it ignores the efforts to achieve the sustainable development goals that many countries are making. Moving away from fossil fuels has to be a country-driven process. It is best left to them to decide which sectors to address first rather than addressing it globally, said Mr R R Rashmi, Distinguished Fellow at TERI.
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