04 October 2016 Current Affairs: India has ratified the Paris Agreement on climate change on the 147th birth anniversary of Mahatma Gandhi. India’s Permanent Representative to UN, Syed Akbaruddin handed over the Instrument of Ratification signed by President Pranab Mukherjee to the United Nations in New York.
With this, India became 62nd country to ratify the agreement. These 62 countries including India are responsible for almost 52% of Green House Gases (GHG) emissions. The Paris Agreement on climate change will enter into force one month after 55 countries that account for 55% of global GHG emissions ratify the agreement.
The Paris Agreement was adopted by more than 190 nations at the 21st Conference of Parties of UNFCCC (UN Framework Convention on Climate Change) held in Paris in December 2015.
It seeks to accelerate and intensify the actions and investment needed for a sustainable low carbon future. The agreement caps limit global temperature rise (global warming) to well below 2 degrees Celsius. It also seeks to funnel trillions of dollars to poor countries facing climate catastrophe.
India being world’s third largest emitter of GHGs, accounting for 4.1% of the total global emission was seeking more time earlier to complete its national processes as it feared that any hasty decision may impact its developmental projects.
India’s Intended Nationally Determined Contributions (INDC) pledge estimated a cost 2.5 trillion dollars for its climate-action plan. India will ask developed nations to provide 100 billion dollars per year in climate finance for developing nations.
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