FM Nirmala Sitharaman emphasises on role of technology in fighting climate change

Finance Minister Nirmala Sitharaman on Friday emphasised on the role of technology in fighting climate change and called for international cooperation to increase supply of alternative sources of energy and technologies.

The minister participated virtually in the G20 High-Level Tax Symposium on Tax Policy and climate change, organised by Italy ahead of the 3rd G20 Finance Ministers and Central Bank Governors Meeting.

Sitharaman highlighted that in India, fiscal policy options are used for better environmental outcomes and concessional tax rates are in place to promote use of renewables, the finance ministry said in a series of tweets.

She also shared India's innovative policy mix for better environmental outcomes, such as the new Energy Map of India; digital innovation and emerging fuels; International Solar Alliance for enabling clean energy; and promotion of energy efficiency and afforestation.

Later in another tweet, the ministry said the meeting also discussed issues relating to global economic recovery, health and international financial architecture for coordinated global fiscal and monetary stimulus programmes to address the challenges brought on by the pandemic, from both short and long-term perspectives.

"FM Smt. @nsitharaman discussed #GlobalEconomicRisks in view of emerging #CoVID19 variants and welcomed the Report of the #G20 High-Level Independent Panel on Financing #GlobalCommons for #PandemicPreparedness and Response," it tweeted.

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