Despite not being a traditional contributor to global emissions, India is showing intent as a problem solver, says Union Environment Minister
Union Environment Minister Bhupender Yadav, today said that despite not being a traditional contributor to global emissions, India is showing intent as a problem solver. Yadav was addressing the opening ceremony of the G20 environmental and climate ministerial meeting in Bali, Indonesia.
Yadav added that the maximum impact of the climate crisis is being borne by the poorest countries and most vulnerable communities, which have contributed the least to the climate crisis. He added that the promise of climate finance remains a mirage and that an added problem is clubbing development finance with climate finance.
Yadav further stated that in 2019, 70 percent of public climate finance was given out as loans instead of grants. In 2019-20, only six percent of climate finance was in grants which is pushing developing countries into more debt.
The minister added that there is an urgent need to mobilise resources to stimulate the economy in a manner that makes it more resilient and sustainable. But the current pace and scale of climate finance from developed countries is not matching the global aspiration to combat climate change.
