Developing world awaits finance, low-cost tech to fight climate change: India

Stressing that combating climate change is a shared global challenge, India reiterated on Friday that the response must be based on the fundamental principles of “equity and common but differentiated responsibilities and respective capabilities”.

“Developing countries have consistently risen to the challenge through enhancement of ambition and acceleration of actions. Climate justice requires that the promises of climate finance and low-cost technology transfer from developed countries to developing countries, must be fulfilled without any further delays,

“Development imperatives are as important as combating climate change and no one should be left behind,” Indian Environment, Forests and Climate Change Minister Bhupender Yadav said at the Major Economic Forum on Energy and Climate (MEF) convened virtually by US President Joe Biden.

He reminded the virtual gathering that the recent report by the Intergovernmental Panel on Climate Change (IPCC) reaffirms that cumulative emissions up to net zero will determine the eventual global temperature that is reached by the end of the century.

Highlighting that India has used up far less than its fair share of the global carbon budget, a finite resource, Yadav said: “India’s per capita emissions are about a third of the global average. Our share of world population is 17 per cent but share in cumulative historical emissions is just 4 per cent. Our current annual emissions are only 5.2 per cent of the global emissions. So, it is clear that we are not a part of the problem. But we want to be a part of the solution to the climate crisis.”

Terming clean energy transition the key to unlocking solutions for the climate challenge, he said that India remains at the forefront of global efforts through a very ambitious energy transition towards renewables.

India’s Nationally Determined Contributions (NDCs) – actions to be taken for reducing emission for combating climate change – are ambitious, and they are a significant contribution towards achieving the temperature goals of the Paris Agreement, he said.

“Further, we will ensure that our successive NDCs reflect an ambitious progression over the existing ones, as required under the Paris Agreement.”

India is walking the talk, through a concerted push for renewables, hydrogen and biofuels, alongside several sectoral transitions including e-mobility, Yadav said.

“The world needs rapid, sustained and deep emission cuts in this decade rather than distant targets,” he urged.

The virtual meeting built on the Leaders’ Summit on Climate conducted in April 2021 and was aimed at enabling dialogue and discussion and building consensus before COP26, the annual climate change summit, which will set a precedent for climate efforts in the years to come.