There isn’t much room for carbon dioxide emissions left in the atmosphere before it becomes too much, but of whatever little room is there, the developing countries have the first right to, India has said at the COP26 global climate talks currently underway here.

Intervening at the informal stock-taking plenary session held by COP26 President, Alok Sharma, the leader of the Indian delegation, Richa Sharma, said, “The meagre carbon budget is first and foremost the right and entitlement of developing countries.”

Climate finance

Sharma, yet again, expressed India’s “disappointment at the lack of significant progress in climate finance related agenda items.” She stressed that the “outcomes of COP26 must reflect the urgency in scaling up finance and other means of implementation support to developing countries.”

Also see: Out of time: Climate talks go past deadline over coal, cash

She exhorted developed countries to enhance their nationally determined contributions, or NDCs, which are self-declared commitments towards climate action and said that they “should reach ‘net zero’ much before 2050.”

Net-zero goal

Net Zero refers to a situation where an entity does not emit more greenhouse gases than it absorbs back or offsets with other measures. While most countries have declared 2050 as their net zero date, India gave its date as 2070 at the beginning of the conference. China, Russia and Indonesia are among the countries that have given 2060 as their net zero year.

Glasgow Loss and Damage Facility

Meanwhile, philanthropies have come forward to “kick-start” finance for the Glasgow Loss and Damage Facility which is currently being discussed by negotiators at COP26. The facility is intended to provide technical and financial assistance to alleviate climate impacts in vulnerable countries. To begin with, philanthropies are contributing $3 million. Earlier, the Scottish government had pledged 2 million pounds for the Facility.

Also see: ‘Call to redefine methodologies to assess damage due to climate extremes’

With just a day to go before the scheduled conclusion of the climate conference, all countries, with all their differences, are hoping for an agreement of sorts that would enable COP26 to avoid being branded a failure. An agreement that acknowledges the concerns of all parties without being specific on sticky issues such as climate finance and carbon markets seems to be cooking in the pot.