India has sent a 10 person delegation to Bonn, to participate in the ongoing climate conference to prepare for the COP27 in Egypt later this year. India emphasized the need of financial support for necessary climate action in developing and underdeveloped countries.
India at Bonn strongly emphasized the necessity of financial support to the countries affected by climate change, to adapt, mitigate and cope with the loss and damage from extreme weather events and climate disasters. Multiple groups like G77, China, alliance of small islands, small island developing states and Least developed countries supported the establishment of a central climate financing body. While the developed nations like the US, EU and Australia opposed the motion because the developed nations want to evade accountability.
“Developing countries have called for compensation from developed countries, while developed countries have sought instead to treat losses and damage as a sub-component of adaptation within the UNFCCC negotiations,” the Grantham Research Institute at the London School of Economics said in a statement. UNFCCC is short for United Nations Framework Convention on Climate Change.