COP 27: Confidence of investors key to meet climate goals, says India

Leena Nandan strongly emphasised the need for information dissemination to strengthen communities for adaptation readiness

Leena Nandan, secretary, ministry of environment, forest and climate change, highlighted the need for adaptation financing, saying that developing a global baseline to enhance transparency and investor confidence is crucial for boosting adaptation readiness.

Nandan said this at a session on ‘Long-Term Strategy on Adaptation and Adaptation Readiness in India’, organised by The Energy and Resources Institute (TERI). It was held at the India Pavilion during COP 27 in Sharm El-Sheikh, Egypt, on Sunday.

Noting that adaptation must be at the forefront of development interventions, Nandan said, “The institutional arrangement, the action plan and resource mobilisation have to walk hand-in-hand and see the macro picture through the same lens.” 

During her address, the secretary emphasised on information dissemination to strengthen communities for adaptation. 

“When we talk about PPP, we need to redefine it as Pro Planet People, a clarion call given by Prime Minister Narendra Modi,” she said. 

“We should be able to move in the right direction in a planned and integrated manner. We are cognizant of the challenges that confront us. Now is the time for action,” she added. 

Observing that 90 per cent of disasters are related to weather and climate change, Kamal Kishore, member secretary, National Disaster Management Authority (NDMA), and Indian co-chair, the Coalition for Disaster Resilient Infrastructure (CDRI) executive committee, emphasised that disaster risk reduction can boost adaptation work. 

Kishore observed that along with better forecast systems, a deeper engagement with the communities is the key to disaster risk reduction. 

Dipa Bagai, head India office, National Research Development Corporation (NRDC), said, “We need the heat action plans to be implemented with much more alacrity, sensitivity and resources in all the states. Making a good plan is only part of the solution. The important part is that we are able to exercise that solution.”

Mardi McBrien, director of strategic alliances, International Sustainability Standard Board (ISSB) said the board is set out to create one global standard for sustainability.

“It will help move the money from the Global North to developing and emerging economies to help finance the mitigation and adaptation solution,” McBrien said.

Rinika Grover, head of sustainability & corporate social responsibility (CSR), Apollo Tyres, said, “We cannot leave any strata of the community at risk.”

Noting that extreme weather events witnessed in the past few years have been an eye-opener to the deadly impacts of climate change, Vibha Dhawan, director general, TERI, said, “When it comes to adaptation, it is necessary to look into all sectors, including food production.”

RR Rashmi, distinguished fellow, TERI, said, “It is important to assess the climate risks and vulnerability very clearly. Then, we must enhance the adaptive capacity of communities and states to deal with the risks, and finally, the resources.”