Cabinet okays Paris deal, govt’s climate spend set to go up
NEW DELHI: The Union cabinet cleared on Wednesday ratification of the Paris climate deal, aimed at creating a zero-emission world by the turn of the century that will reduce dependence on fossil fuel-based energy sources.
The deal will be formally ratified on October 2, on Mahatma Gandhi’s birth anniversary, the Centre said. Over 190 countries signed the deal this April, of which 61 nations accounting for 47.9% of the global emissions have ratified it.
With India, having 4.5% share of the global emissions, ratifying it, the possibility of the deal coming into force has brightened. The UN Climate Convention says the deal will be effective once 55 countries, accounting for 55% of the global emissions, ratify the agreement. Once the deal comes into force, the nations will negotiate different protocols under the deal for the next three years. The deal will be effective from January 1, 2021.
“With the gathering momentum and willingness expressed by several other countries to ratify the agreement before the end of this year, it is expected that the agreement will enter into force soon,” the statement read.
The US was first to react, saying it was another example of “courageous” leadership of PM Narendra Modi. Other world leaders, including UN Secretary General Ban Ki-moon, also congratulated Modi for ratifying the deal which is being considered as Obama-Ki-moon global legacy.
India’s decision to ratify the agreement came after a ModiObama meeting, which showed that linking New Delhi’s push to join the NSG with the Paris climate deal was diplomatic posturing to gain support of top global leaders.
India has set tough targets to reduce its greenhouse gas emissions. “India will need up to one percentage point of the GDP for achieving the targets and a lot will have to come from the private sector which will be the biggest gainer from the transition,” said Kirit Parekh, chairperson of Expert Group on Low Carbon Strategies for Inclusive Growth.
