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with COP26. These sessions were held after a hiatus of one year in 2020 in view of the global
COVID-19 pandemic.

6.53 The COP26 adopted outcomes on all pending issues of the “Paris Rule Book”, which
is the procedures for implementation of the Paris Agreement, including market mechanisms,
transparency, and common timeframes for NDCs. India sought for the just transition for the
developing countries with adequate time frame so that the green economy benefits are shared
with all.

6.54 The “Glasgow Climate Pact” emphasizes adaptation, mitigation, finance, technology
transfer, capacity-building, loss and damage. The decision urges the developed country Parties
to fully deliver on the USD 100 billion mobilization goal urgently and through till 2025, and
emphasizes the importance of transparency in the implementation of their pledges. It urges
developed countries to at least double adaptation finance to developing countries from 2019 levels
by 2025. Further, it emphasises the need to significantly increase financial support to developing
countries, welcomed initiation of structured deliberations on a new collective quantified goal
on climate finance, and looked forward to the ad-hoc work program established under the
Paris Agreement from 2022 to 2024 towards this goal. In addition, the Standing Committee
on Finance (which is a technical committee under UNFCCC) has now been mandated to work
towards arriving at definitions of climate finance.

6.55 COP26 also welcomed the launch of a comprehensive two-year Glasgow–Sharm el-Sheikh
work programme on the global goal on adaptation. The Glasgow Dialogue between Parties,
relevant organisations and stakeholders on loss and damage was established to explore the ways
to fund loss and damage due to climate change. It also decided to convene an annual high-level
ministerial round table on pre-2030 ambition, beginning at the fourth session of the Conference
of the Parties serving as the meeting of the Parties to the Paris Agreement.

India’s NDC and its voluntary commitment on enhanced climate action.
6.56 India’s commitments made under the United Nations Framework Convention on Climate
Change (UNFCCC) and its Paris Agreement, reflect the principles of equity, common but
differentiated responsibilities and respective capabilities in the light of national circumstances.
India’s climate vision is also integrally linked to India’s vision of development that foregrounds
the goals of poverty eradication and guaranteeing basic well-being as an immediate necessity to
meet the challenge of global warming.

6.57 India submitted its Nationally Determined Contribution (NDC) under the Paris Agreement
on a “best effort basis” keeping its developmental imperatives in mind. India committed to (i)
reduce the emission intensity of GDP by 33 to 35 per cent by 2030 as compared to 2005 level; (ii)
create an additional carbon sink of 2.5 to 3 billion tonnes of CO2 equivalent through additional
forest and tree cover by 2030; and (iii) achieve about 40 per cent cumulative electric power
installed capacity from non-fossil fuel energy resources by 2030. Against these targets, India’s
third Biennial Update Reports (BUR) submitted to the UNFCCC in 2021 reports that during
2005-2016, the country had reduced emission intensity of its GDP by 24 per cent. According
to the India State of Forest Report 2021 released in January 2022, the total carbon stock in the
country’s forests is estimated to be 7,204 million tonnes, and the carbon stock in forest has