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Ahead of the climate conference in Paris, the Finance Ministry has raised questions over the progress in climate change finance that is aimed at $100 billion a year by 2020.
Raising questions about a recent report by the Organisation for Economic Cooperation and Development on the issue, Shaktikanta Das, Secretary, Department of Economic Affairs, has called for a “genuine provision” and not just clever accounting from the developed countries to the developing world.
“Need genuine provision of climate change finance from developed to developing countries as per commitment and not clever accounting…Need credible, accurate and verifiable method of measuring true size of climate change finance,” Das said in a series of tweets on Sunday.
The Finance Ministry in a discussion paper released on Sunday also raised concerns over the OECD report.
“At best, the OECD report is at least partly right: ‘there remains significant work to be done to arrive at more complete and accurate estimates in the future’. That could well have been the title of the OECD report. There are some issues as to why there was so much rush to produce a document with inflated numbers, what has been termed as ‘green-washing’ of finance. We need to do better,” it said.
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