India, Russia agree to intensify bilateral efforts for increased access to climate finance and technologies | India News

NEW DELHI: India and Russia on Friday agreed to intensify their bilateral efforts for implementing different climate actions under the global goals approved on multilateral forums such as the UN Convention on climate change and its Paris Agreement.The statement, issued after the meeting between Prime Minister Narendra Modi and visiting Russian President Vladimir Putin, noted the agreement of both the countries to continue the development of joint approaches to mobilise “increased access to climate finance and technologies” for developing countries and economies in transition.Russia comes under the ‘economies in transition’ (EIT) category and therefore does not fall under the group of developed countries who are obligated to provide climate finance to assist developing countries to undertake emissions reduction activities under the UN Convention and help them adapt to adverse effects of climate change.Under the Convention, the developed countries have to take all practicable steps to promote the development and transfer of environmentally friendly technologies to EIT and developing countries. India and Russia joint approach may help in mobilising climate finance by leveraging their combined efforts at multilateral forums.Noting the importance of expanding efforts to combat climate change and achieving the goals of the United Nations Framework Convention on Climate Change (UNFCCC) and the Paris Agreement, both India and Russia agreed to “intensify the bilateral dialogue on implementing mechanisms of the Article 6 (carbon trade) of the Paris Agreement, developing low-carbon technologies and using sustainable finance instruments”.The joint statement said that both the countries also agreed to continue interaction within G20, BRICS, SCO on the key issues of climate change. “Both sides encouraged fruitful cooperation in the area of addressing climate change in BRICS during the India Chairship in grouping in 2026,” it said. The statement also welcomed the first meeting of the Joint Russia-India Working Group on the issues of climate change and low-carbon development held on Sept 10 in New Delhi within the framework of the Memorandum of Understanding on the issues of climate change and low-carbon development.