Union minister of state for environment Prakash Javadekar on Sunday said that India would have a new comprehensive climate legislation in the next budget session of Parliament.
Speaking at an event organised by The Globe Legislators Organisation (Globe India) , Mr Javadekar said there is the real issue of Climate finance. While the world has realised the dangers of climate change, the main issue is that the Green climate fund must become a reality. From 2012, it was expected to start with $10 billion every year to reach $100 billion by 2020 and then continue with $ 100 billion per year. But today its just $9.7 billion.
He said funds will be a key decision point in Lima and apart from that there is the issue of the Intended Nationally Determined Contributions(INDC)s. Things are very different from Kyoto when the world was divided into the developing countries or the non annexe one and the annexe one countries which was the developed world. Now things had changed, he pointed out and every country has to take action and announce them. He predicted heated debates on Climate Finance, INDCs and other key issues.
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He referred to India's targets for solar power and the scaling up of solar energy from 20 gigawatt(GW) to100 GW by 2022 for which an investment of $ 100 billion was made.
Thats a big achievement, he said. So, every country can take steps at Lima, and ultimately reach a conclusion. However, this is just a preparatory event and ultimately what happens next year in Paris is very important, he added.
Mr Javadekar said his association with GLOBE since seven or eight years had helped him a lot in understanding climate change from a different perspective and he was part of every conference since Copenhagen.
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He was former president of GLOBE India. In the next two days Mr Javadekar will attend bilateral meetings and also the high level segment which begins on Tuesday