“Blocking the establishment of even a modest fund to help vulnerable communities around the world with the massive loss and damage they are experiencing at the hands of the climate crisis is a serious blow.
However, the first-ever mention of coal phase down in an international climate agreement is an important indication of the energy transformation underway and a clear signal to markets and industry.
“It is unfair for the west to ignore India’s energy imperatives — home to almost a fifth of the world’s population.
Despite traversing well on the renewable roadmap, India just cannot wish away the energy needs of its 1.3 billion people – with two-thirds of its needs being currently met by coal,” Gupta said.
The wording is weaker than the initial proposals, with the final text calling for only a “phase down” and not a “phase out” of coal, due to a last-second intervention by India, and of inefficient subsidies.
“This will not be easy for a lower-middle income country that is trying to lift millions of people out of poverty.