Climate finance duty, not promise: India to developed countries

New Delhi, Oct 16 (PTI) Financial support to developing countries for tackling climate change should be treated as duty by developed countries, India said on Thursday.

At the G20 Environment Ministers' Meeting in Cape Town, South Africa, Environment Minister Bhupender Yadav said the forum of the world's 20 largest economies must act as a bridge between ambition and implementation, ensuring that every nation's contribution in the fight against climate change is respected and every nation's capacity is enhanced.

Yadav called for the reaffirmation of the principle of common but differentiated responsibilities and respective capabilities (CBDR-RC).

The CBDR-RC principle states that while all countries share the obligation to address climate change, their responsibilities differ based on their historical contributions and current capacities.

He said finance to developing countries to tackle environmental challenges "needs to be honoured as an onerous duty rather than a mere promise because equality is not a privilege, it is a right".

Noting that the Paris Agreement completes 10 years this year, Yadav said India had achieved several of its climate goals ahead of schedule.

As part of its updated Nationally Determined Contributions (NDCs) submitted to the UN Climate Change Secretariat in August 2022, India committed to achieving 50 per cent of its cumulative installed power capacity from non-fossil fuel-based sources by 2030.

India had already surpassed this target by July 2025, five years ahead of schedule.

It has pledged to reduce the emissions intensity of its GDP by 45 per cent from 2005 levels by 2030.

The country also aims to create an extra carbon sink of 2.5 to 3 billion tonnes of CO2 equivalent through afforestation and other land-based measures.

Reports suggest that India is on track to meet these targets. Quoting Prime Minister Narendra Modi, Yadav said the world must go "back to the basics" while marching towards the future.

"Ecosystem-based solutions and futuristic technologies must converge to create a sustainable future. Knowledge sharing, capacity building, technology co-development and transfer will play a significant role in attaining sustainability," he said.

The minister stressed on a "whole-of-society" approach and encouraged people to adopt "pro-planet lifestyle choices". PTI GVS PRK PRK