COP27 India Plenary: World has waited far too long for this, India on compensation fund approved at UN climate talk

India on Sunday called as historic the UN climate summit in Egypt for securing an agreement on establishing a fund to address loss and damage due to climate change-induced disasters, saying "the world has waited far too long for this".

Making an intervention in the closing plenary of COP27, Union Environment Minister Bhupender Yadav also said the world should not burden farmers with mitigation responsibilities.

He welcomed the inclusion of "transition to sustainable lifestyles and sustainable patterns of consumption and production in our efforts to address climate change" in the cover decision of the deal struck in Sharm El-Sheikh.

"You are presiding over a historic COP where agreement has been secured for loss and damage funding arrangements including setting up a loss and damage fund. The world has waited far too long for this. We congratulate you on your untiring efforts to evolve consensus," Yadav said addressing the Egyptian presidency.

Loss and damage refers to destruction caused by climate change-induced disasters.

"We note that we are establishing a four-year work program on climate action in agriculture and food security.Agriculture, the mainstay of livelihoods of millions of smallholder farmers, will be hard hit from climate change. So, we should not burden them with mitigation responsibilities.Indeed, India has kept mitigation in agriculture out of its NDCs," he said.

On the establishment of a work program on just transition, Yadav said for most developing countries, just transition cannot be equated with decarbonisation, but with low-carbon development.

"Developing countries need independence in their choice of energy mix, and in achieving the SDGs (sustainable development goals). Developed countries taking the lead in climate action are, therefore, a very important aspect of the global transition," he said.

Just transition means transition to a low-carbon development strategy over a time scale that ensures food and energy security, growth and employment, leaving no one behind in the process.

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