Ahead of the mega global climate summit COP27 kicking off from November 6, India is looking forward to the discussions on climate finance and its definition in the context of developing countries. The 27th edition of the Conference of Parties (COP27) of United Nations Framework Convention on Climate Change (UNFCCC) is all set to begin in Egypt's Sharm El-Sheikh from November 6-18. The Indian delegation will be led by Union Environment Minister Bhupinder Yadav.In a statement issued by the Ministry of Environment, Forest & Climate Change, India will deliberate on a definition for climate finance in the context of developing countries, which will be relevant for assessing the flow of finance in climate action. It also said that the interpretation of climate finance must be according to the Paris Agreement.

So far as India's case is concerned, the goal of $100 billion per year of climate finance which was scheduled to be achieved by 2020 and every year after that through 2025 is yet to be fulfilled.