The climate landscape has seen a drastic change in the last few years with an increase in extreme climate events like heat waves and erratic rainfall.

The UN emissions report has spoken about how emission reduction pledges by different countries are nowhere near what is needed and that combined pledges under the Paris agreement put the world on track for around 2.5 degrees of warming by end of the century. This report comes just ahead of COP-27 which starts on November 6 in Egypt.

More than 30,000 delegates, including representatives from 200 countries, will gather from November 6-18 in the seaside resort town of Sharm el-Sheikh to hash out details around how to slow climate change and help those already feeling its impacts.

CNBC-TV18 spoke to Shikha Bhasin, senior programme lead at Council on Energy, Environment & Water (CEEW); Professor Amit Garg, chair of ESG, Fellow at IIMA and Dipak Dasgupta, Distinguished Fellow at TERI on the expectations and the focus of the summit.

Dasgupta believes mobilising the climate finances is very important and climate finances need to rise by 5-7 times from current levels to make a dent in the emissions gap.

He said, "Coal is a side distraction, the bigger question is, whether there is enough momentum happening in Article 2.1(C) discussions at COP27 and whether we have the bandwidth for the finance to react."

According to Bhasin India needs to push developed countries and demand greater ambition on emission reduction and their plans in getting to net-zero a lot faster than what has been put on the table.

Bhasin said, "Only 24 countries of all 197 parties that are constituted within the United Nations Framework Convention on Climate Change (UNFCCC) have actually put forth updated nationally determined contributions (NDCs) and that is not a good sign."

"Also, the upheaval that is going on between Russia and Ukraine has allowed several member states of the European Union to backslide into reopening or extending their coal plants. So this is a very critical moment for India to sort of flex its weight and demand greater ambition from the developed countries on emission reduction and their plans in getting to net-zero a lot faster than what has been put on the table because we know that it is not enough," he added.

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