NEW DELHI: Environment minister Prakash Javadekar on Friday expressed concern over the empty coffers of the Green Climate Fund (GCF) and urged rich nations to agree to a road-map for its capitalization by 2015 - the year the world will have a universal global climate deal.
He also suggested that part of GCF, which was launched in 2009-10, should be used for financing critical technologies and purchase of intellectual property rights (IPRs) so that it can be available to developing countries "free of cost".
Speaking at the 'Major Economies Forum' (MEF) in Paris, Javadekar emphasized that "quick capitalization (of GCF) was the need of the hour" and it should be facilitated majorly by public financing in 'grant' terms.
He underlined that the private sector can "complement but not supplant" public finance needed to address climate change and its impacts.
Referring to the annual Budget which was presented on Thursday, the minister said India had had taken a number of steps to combat climate change including earmarking Rs 100 crore for National Adaptation Fund, setting up of mission for Himalayan region, Clean Ganga mission and enhancement of cess on coal from Rs 50 a tonne to Rs 100 a tonne.
