India firm on its stand on climate financing; PM Modi asks West for enhanced action

Contending that countries of the Global South are particularly impacted by climate change and environmental issues, Prime Minister Narendra Modi on Friday pushed for “enhanced action” from developed countries on commitments made under the UN Climate Convention and the Paris Agreement.

At the same time, India also reiterated its stand on Climate Finance saying that developed countries should fund developing countries and provide transfer of technology to ensure a level-playing field. Environment Minister Bhupender Yadav said the developed countries should fulfill their commitment of providing $100 billion to the developed countries besides “defining” climate finance.

“The developed countries should fulfill the commitments made during the previous COP meetings. Our stand is the same as ever. We have not changed our stand and we are clear on the issue of Climate Finance,” Yadav told reporters at the end of the G20 Environment and Climate Sustainability Ministers' meeting here.

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Earlier in the day, Modi, in a recorded message played at the inaugural event, exhorted G20 countries to work constructively to work on an effective international legally binding instrument to end plastic pollution.

In his 13-minute address, Modi said India has achieved its installed electric capacity from non-fossil fuel sources nine years ahead of the target of 2030, besides aspiring to ‘Net Zero’ by 2070. The Prime Minister also exhorted the G20 to work constructively to work on an effective international legally binding instrument to end plastic pollution.

Quoting saint poet Thiruvalluvar, Modi said for India, nature and its ways have been regular sources of learning and these are found in several scriptures as well as oral traditions.

On climate change, Modi said Countries of the global South are particularly impacted by climate change and environmental issues.

“We need enhanced action on commitment under the UN climate convention and the Paris agreement. This will be crucial in helping the global South fulfilling development inspirations In a climate-friendly way,” the Prime Minister said, exerting pressure on the West to act.

Talking about Ocean Economy, Modi said they support the livelihoods of over three billion people across the globe as they are a crucial economic resource, especially for the small island States. "Responsible use and management of ocean resources is of vital importance. I look forward to the adoption of G20 high-level principles for sustainable and resilient blue and ocean-based economy," he added.

Flaunting that India’s bio-conversation projects have been highly successful with community participation, Modi recalled the recently-launched initiative called the International Big Cat Alliance for the conservation of seven big cats of the planet.

“It is based on our learning from Project Tiger, a pioneering conservation initiative. The result of the project is that 70 per cent of the Tigers in the world are today found in India. We are also working on Project Lion and Project Dolphin. Indian initiatives have always been powered by people's participation,” he added.

Yadav said India's G20 Presidency released 1 outcome document, two Presidency Documents under the theme of Blue Economy, four Presidency documents and compendiums of best practices under the theme of land and biodiversity, and water resources management, and four Presidency documents under the theme Resource Efficiency and Circular Economy.

“G20 countries reiterated their leadership role in tackling climate change and ambitious action across all pillars of the Paris Agreement. Topics like ecological restoration, marine spatial planning, and circular economy were addressed in detail for the first time in the G20 discussions,” Yadav added.

Yadav also added that under the Indian Presidency, the G20 for the first time, we have delved into the pressing issues of forest fires and mining degraded areas as priority landscapes.

“Our experiences and best practices to restore them are included in Presidency documents, and these can be useful in implementing measures to achieve our target for land degradation neutrality,” he said, adding that the countries have addressed the issue of integrated water resource management.