Environment Minister Jairam Ramesh said the United States and other parties to the Copenhagen Accord had agreed to raise USD 30 billion for helping poor nations most at risk of climate change.
"The continued inability to deliver on fast track finance to my mind is a betrayal of the trust and the betrayal of a grand bargain at Copenhagen," he told reporters after the conclusion of Sixth BASIC Ministerial Meeting on Climate Change here.
The BASIC nations are Brazil, South Africa, India and China.
"USD 30 billion was the total commitment for 2010, 2011 and 2012. I would be
surprised, if the total disbursement exceeds two digits so far," Ramesh said at the joint press conference attended by Vice Chairman of the National Development and Reform Commission of China Xie Zhenhua, Brazilian Environment Minister Izabella Monica Vieira Teixeira and his South African counterpart Bomo Edith Edna Molewa.
The minister said the United States "includes 26 million dollars funding to India" as part of the fast track funding commitment.
"And today my Brazilian colleague gave me example of how some funding for Brazil is included as part of the EU fast track finance.
Fast track finance must meet two conditions. No.1 it must be new and additional. No 2, it must be to Africa, small island states and LDCs," he said.
"I think this remains to my mind the single biggest disappointment ever since the Copenhagen Accord was signed," Ramesh said.
At the United Nations’ climate change conference in Copenhagen 14 months ago, the US and other parties to the Copenhagen Accord had agreed for fast track finance meant for Africa, small island states and the LDCs, which are at risk of flooding, drought, disease outbreaks and other catastrophes caused by climate change.
Ramesh said it was "highly regrettable and most unfortunate" that even after the 14 months of Copenhagen Accord "there is hardly been any significant disbursal".
The Maldives Environment Minister who attended the BASIC Plus meeting has said that it had received no funding, he said.
Today’s meeting was also attended by representatives of Argentina, which is going to be the chair of the G-77 group from 2011, and special representative of the Environment Minister of Algeria. –PTI