New Delhi: More than 190 countries decided it would build up to a $100 billion kitty by 2020 to fight climate change globally but the Green Climate Fund looks set to remain an empty pot as the US and other developed countries have refused to commit the needed money or even set timelines for contributions.

In a meeting of the UN fund held in Berlin, the US and other developed countries refused to discuss a burden-sharing formula for contributions or set any calendar to schedule the initial funding. By December 2012, only $5.7 million was committed by the rich world to the fund. India was represented at the meeting by Dipak Dasgupta, principle economic advisor to the finance ministry.

Agreeing to a second commitment period without meaningful rules is pointless. Emission cuts must be ambitious

The finance ministry has set up a unit dealing with the issue of financing climate change under the department of economic affairs.

The government should set up a 'green fund' by imposing 5% forest development tax on sale of forest products and 3% forest conservation tax on sale of petroleum products and coal mining, the 12th F

The two-day 10th BASIC Ministerial Meeting of Brazil, South Africa, India and China on climate change, which concluded on Tuesday, expressed concern over the European Union’s decision to impose car

India will not sign any legally binding global agreement for emissions reduction, as the country needs to eradicate poverty through economic growth, Environment Minister Jayanthi Natarajan said tod