UNFCCC Current Affairs

India ratifies 2nd commitment period of Kyoto Protocol

India has ratified the second commitment period of the Kyoto Protocol (or Doha Amendment) that commits countries to contain the emission of greenhouse gases (GHGs). In this regard, India deposited its Instrument of Acceptance of the Doha Amendment to the Kyoto Protocol.

With this, India became the 80th country to accept the amendment relating to the second commitment period (2013- 2020) of the Kyoto Protocol.

About Kyoto Protocol

The Kyoto Protocol is an international GHGs emissions reduction treaty linked to the United Nations Framework Convention on Climate Change (UNFCCC). It commits its Parties by setting internationally binding GHGs emission reduction targets. It was adopted in Kyoto, Japan, in December 1997 and entered into force in February 2005.

The protocol is based on principle of equity and Common but differentiated responsibilities and respective capabilities (CBDR). It places obligations on developed nations to undertake mitigation targets to reduce emissions and provide financial resources and technology to developing nations. Developing countries like India have no mandatory mitigation obligations or targets under the Kyoto Protocol.

The first commitment period under the Kyoto Protocol was from 2008-2012. The second commitment period of the Kyoto Protocol or Doha Amendment for 2013-2020 period was adopted in 2012. The amendment includes new commitments for parties to the Protocol who agreed to take on commitments in a second commitment period and a revised list of GHGs to be reported on by Parties.

Comment

The ratification of second protocol reaffirms India’s stand on climate action. It also further underlines India’s leadership in the comity of nations committed to global cause of environmental protection and climate justice. It will encourage other developing countries also to undertake this exercise. Under the second commitment period, implementation of clean development mechanism (CDM) projects will help Indian attract some investments.

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NABARD inks AMA with Green Climate Fund

The National Bank for Agriculture and Rural Development (NABARD) has signed an Accreditation Master Agreement (AMA) with the Green Climate Fund (GCF).

With this, NABARD becomes the first Indian organisation to get Direct Access Entity status of the GCF. It is also considered as the first step for the NABARD to access GCF resources.

Background

India has laid down ambitious mitigating goals under the Intended Nationally Determined Contributions (INDC) submitted in the Paris Climate agreement signed in 2015. But these goals are contingent upon receiving low-cost finance from sources like the GCF. Till now, only one project, Installation of Groundwater Recharge System in Odisha amounting to $34 million is underway using funds from GCF. Several projects have been proposed and are in the pipeline.

About Green Climate Fund (GCF)

The GCF is a fund within the framework of the UNFCCC (United Nations Framework Convention on Climate Change) to assist developing countries in adaptation and mitigation practices to counter climate change.  It was formally established by a UNFCCC decision in Durban, South Africa in December 2011. It was intended to be the centrepiece of efforts to raise Climate Finance of $100 billion a year by 2020.

It is a mechanism to assist the developing countries in adaptation and mitigation practices to counter climate change by redistributing money contributed by the developed countries. It supports projects, programmes, policies and other activities in developing country Parties using thematic funding windows. The GCF is based in the new Songdo district of Incheon, South Korea. It is governed by a Board of 24 members and initially supported by a Secretariat. GCF was central to the Paris climate agreement signed in 2015.

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