Climate Finance And Technology Transfer Must Be Provided To Developing Countries: Environment Minister

India is not a part of the greenhouse gas emissions problem but it will be a big part of the solution to climate change, Union Environment Minister Bhupender Yadav said on Wednesday.

He claimed that the developed nations were not fulfilling their promises of climate finance and technology transfer.

Participating in the Raisina Dialogue 2022, which entered its third day, Yadav asserted that India was determined to achieve economic prosperity and enhance its renewable energy capacity.

"We are determined to achieve economic prosperity as well as fulfil the aspiration of our people. The countries which have already got a major share of their carbon emissions can't ask developing nations to stop the aspirations of their people.

"We are very clear that there is no phase-out of coal but phase-down. Simultaneously, India is committed to enhancing its renewable energy capacity," the environment minister said.

He stressed the need for technology transfer as climate change has gripped the world and developing nations are in dire need of climate finance and technology.

"There is so much technology which must be transferred. India is also working on green technology like the hydrogen mission. But, whatever green technology advancement takes place in the world, must be given to developing nations also," Yadav said.

He listed Prime Minister Narendra Modi's 'Panchamrit' (five elixirs) for India, which were announced at COP 26 in Glasgow, UK, last year, and said these are India's contributions to solving the global emissions problem.

The 'Panchamrits' are -- India's non-fossil fuel energy capacity will reach 500 gigawatts by 2030; meet 50 per cent of its energy requirements from renewable energy by 2030; reduce the total projected carbon emission by 1 billion tonnes till 2030; reduce the carbon intensity of its economy by 45 per cent by 2030 and achieve the net-zero target by 2070.

Yadav, while reiterating the 'Panchamrits', said there is "no planet B".

"Developed countries are not fulfilling their own promise of giving us money. Technology transfer is also not coming the way required.

"India is among the few countries of G20 which achieved their nationally determined contributions (NDCs) and targets. However, many countries refuse to raise their NDCs after COP," he said.

The minister said India is a partner in three major forums also.

"For disaster resilience infrastructure, India made a forum with the UK. For green energy, India is a partner of LeadIT with Sweden and of the International Solar Alliance (ISA) with France. A new initiative under ISA, 'One Sun One Grid One World', was announced at COP 26," he said.

Yadav also asserted that India has taken several steps for ease of business in the country and many nations are interested in investing in India.

"Our government has taken several steps for ease of business in the country. We met other countries which are ready to invest in India. Climate change has more impact on vulnerable countries.

"Climate finance and technology transfer must be provided to developing countries. In the final declaration of COP 26, developed countries expressed deep regret about not fulfilling their climate finance promise," he said.

(PTI)