, to be assessed, according to the official. Other questions around financing, such as what happens to climate funding in the long term, what contributions rich countries will make to poorer ones and how to make finance flows consistent with global temperature limit goals, also need to be addressed, they added.
“The investments in renewable energy, though on an upward trend, need significant scaling up. There is a funding gap. This gap needs to met by international climate public financing to attract investors in the renewable energy domain,” said the Indian government official."The raised ambitions and new goals for tackling climate change could all be in vain if adequate financial support is not provided to developing countries.
According to the World Bank, 750 million people in South Asia have been affected by at least one natural disaster in the past two decades. These disasters are expected to become more frequent and intense, potentially creating immense loss and damage in the region. The NGO Germanwatch has ranked India seventh among countries most affected by extreme weather in 2019, noting that massive floods that year caused damage of around $10 billion, claiming 1,800 lives and displacing around 1.