Countries With Maximum Climate Crisis Impact Lack Tech & Finance To Alter Status Quo: India At G20 Meet
The environment minister said the current pace and scale of climate finance from developed countries is not matching the global aspiration to combat climate change
Union environment minister Bhupender Yadav on Wednesday emphasized that the maximum impact of the climate crisis is borne by the poorest countries which contributed the least to the crisis. Speaking at the opening ceremony of the G20 environmental and climate ministerial meeting in Bali, Yadav stated India has shown intent as a problem solver despite not being a traditional contributor to global emissions.
"While India has not been a traditional contributor to global emissions, we are showing the intent in our actions to be a problem solver," the minister said, according to the news agency PTI report.
Poor Countries Lack Technology, Capacity And Finance
Explaining the stance of developing nations, the environment minister said: "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 and lack the technology and capacity and finance required to significantly alter the status quo."
"However, the promise of climate finance remains a mirage. An added problem is the clubbing of development finance with climate finance," he said.
"In 2019, 70 per cent of public climate finance was given out as loans instead of grants. In 2019-20, only six per cent of climate finance was in grants. This is pushing developing countries into more debt," the minister said.
Calling for an urgent need to mobilise resources to stimulate the economy in a way that makes it more resilient and sustainable, the minister said the current pace and scale of climate finance from developed countries is not matching the global aspiration to combat climate change.
Environment officials from the Group of 20 leading rich and developing nations have gathered in Bali for talks to spur global climate action and other troubles that have worsened due to the war in Ukraine.
Implementing each G-20 nation's contribution and synchronising targets among developing and developed countries are to be discussed in the closed-door meetings.
According to Indonesia's environment minister Siti Nurbaya, the meeting is being conducted to produce a joint agreement with three priority issues — sustainable recovery, land-based and ocean-based climate action as well as resource mobilisation — to realise the Paris Agreement, the first universal and legally binding commitment to climate change.
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