Roadmap for Answer Writing Introduction (40-50 words): Begin with a brief definition of Carbon Dioxide Removal (CDR), explaining its significance in achieving net negative CO2 emissions as highlighted by the UN Intergovernmental Panel on Climate Change. Mention that CDR encompasses a range of ...
Model Answer Introduction Climate budgeting is essential for integrating climate concerns into India's development agenda, as it helps identify, classify, and categorize climate-related expenditures within the government’s budgetary structure. This enables accurate estimation, diligent monitoring, aRead more
Model Answer
Introduction
Climate budgeting is essential for integrating climate concerns into India’s development agenda, as it helps identify, classify, and categorize climate-related expenditures within the government’s budgetary structure. This enables accurate estimation, diligent monitoring, and systematic tracking of climate-related finances. However, India currently lacks a specific framework or guidelines to allocate a budget for climate change interventions.
Reasons for Climate Budgeting
1. International Reporting Requirements
Climate budgeting can help India meet its international reporting obligations, such as the Enhanced Transparency Framework (ETF) under the UNFCCC. By tracking climate finance expenditures, India can efficiently report its contributions towards national climate targets in Biennial Transparency Reports (BTR), fulfilling global commitments.
2. Strengthening Climate Finance Frameworks
Integrating climate finance into the budget allows for better identification of eligible projects, enhancing frameworks like green bonds. This, in turn, facilitates investments in climate-friendly initiatives, ensuring that financial instruments align with climate goals.
3. Estimating the Climate Finance Gap
Climate budgeting enables the estimation of the finance gap, providing evidence of existing climate expenditures. For example, Indonesia used climate budgeting to analyze this gap, helping create innovative financial models to address the shortfall.
4. Robust Policy-Making
By quantifying investments required to reduce emissions, climate budgeting aids in prioritizing climate actions. This process supports the State Action Plans on Climate Change, allowing for better management of climate finance and more robust policy decisions.
5. Preventing Underreporting
Climate budgeting helps prevent the underreporting of development projects with significant climate co-benefits. For example, PMKSY (Pradhan Mantri Krishi Sinchayee Yojana), which focuses on water conservation, is not typically reported as a climate adaptation or mitigation initiative.
Conclusion
Several Indian states, such as Maharashtra, Assam, Chhattisgarh, Bihar, Odisha, and Kerala, have already initiated budget coding exercises to track the climate relevance of development projects. This emphasizes the need for a national framework for climate budgeting to improve transparency, accountability, and the effectiveness of climate finance management.
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Model Answer Introduction Carbon Dioxide Removal (CDR) refers to a set of technologies, practices, and approaches designed to remove and durably store carbon dioxide (CO2) from the atmosphere. As per the UN Intergovernmental Panel on Climate Change (IPCC), achieving net negative CO2 emissions is criRead more
Model Answer
Introduction
Carbon Dioxide Removal (CDR) refers to a set of technologies, practices, and approaches designed to remove and durably store carbon dioxide (CO2) from the atmosphere. As per the UN Intergovernmental Panel on Climate Change (IPCC), achieving net negative CO2 emissions is critical to combating climate change, and CDR plays an essential role in this process.
Methods of CDR
Challenges of CDR
Conclusion
While CDR is not a substitute for deep emissions reductions, it is a crucial tool for achieving net negative emissions. To maximize its potential, appropriate governance and policies are necessary to manage risks and challenges effectively.
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