India (Commonwealth Union)_ During COP28, India disclosed that it allocated approximately Rs 13.35 lakh crore in the fiscal year 2021-2022 for climate adaptation initiatives. The COP28 Presidency unveiled a revised text on the Global Goal on Adaptation (GGA), marking a notable departure from the earlier draft. The updated text exhibits diminished strength not only in terms of means of implementation (MOI) from developed nations to their developing counterparts but also in relation to thematic objectives, particularly concerning ecosystems.
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A noteworthy alteration is observed in the treatment of the ecosystem target. The prior version stipulated, ‘Ensuring that at least 30% of ecosystems are maintained, enhanced, or restored, including through ecosystem restoration and enhancing ecosystem services.’ However, the current draft omits the specific 30% figure, transforming it into a theme rather than a target. The revised text lacks robust language on means of implementation, notably concerning the adaptation finance gap and target.
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Additionally, it does not resolve the inclusion of the principle of Common But Differentiated Responsibilities and Respective Capabilities (CBDR-RC). While the adaptation cycle is outlined with targets for Impact, vulnerability, and risk assessment; Planning; Implementation; and Monitoring, evaluation, and learning, there is a conspicuous absence of a target for means of implementation, especially finance, which is crucial for achieving the aforementioned objectives. The earlier draft proposed a financial commitment of $400 billion per year until 2030, a figure conspicuously absent in the new GGA text. If this revised text were adopted at COP28, over 195 nations would be compelled to conduct a ‘Risk and Vulnerability Assessment’ of climate hazards and formulate their national adaptation plans by 2025.
During the summit, India conveyed to the UN Framework for Climate Change Convention (UNFCCC) that the country had expended about Rs 13.35 lakh crore in 2021-2022, constituting just over 5.5% of its Gross Domestic Product, on climate adaptation endeavors. In a business-as-usual scenario, India anticipates incurring an additional Rs 57 lakh crore until 2030 for similar initiatives. India’s climate adaptation process heavily relies on domestic resources, as the funds pledged by developed nations fall significantly short of the requirements. As the new GGA draft undergoes further negotiations, developing country groups express concerns that the framework’s efficacy would be compromised without a robust assurance on adaptation finance.
