The world waited a long time for this, India passed the Compensation Agreement in the COP
They welcomed the inclusion in the key decision of the Agreement in Sharm el-Sheikh of ‘the adoption of sustainable lifestyles and sustainable systems of consumption and production as part of the transformation through our efforts to combat climate change’. Addressing Egypt, which is chairing the conference, Yadav said, “You are presiding over a historic COP, where an agreement has been made for a loss and damage fund.” The world has waited too long for this. We congratulate you for your tireless efforts to build a consensus.
What is meant by loss and damage?
Loss and damage refers to the destruction caused by disasters caused by climate change. “We note that we are launching a four-year program on climate action in agriculture and food security. Agriculture, the mainstay of livelihood of millions of small farmers, will be badly affected by climate change, so we should not put the burden of mitigation on them.
Equitable Change for Developing Countries
In fact, India has excluded mitigation in agriculture from its NDCs (Nationally Determined Contributions). Launching a program on equitable transition, Yadav said that for most developing countries, equitable transition cannot be linked to carbon sequestration, but to lower carbon emissions.