Developed Countries Should Provide 1% of GDP To Finance Green Projects in Developing Countries: PM Modi

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Addressing the G20 summit session on “Climate Change and the Environment”, Prime Minister Modi said that by forgetting about climate justice, “we are not only doing developing countries injustice, but we are betraying all of humanity “.

As a spokesperson for developing countries, India cannot ignore the neglect of climate finance by developed countries, he said. Without concrete progress on climate finance, lobbying developing countries for climate action is “not justice,” Modi said.

During the session, Modi presented three action points to the G-20 partners – G20 countries create a “clean energy project fund” that can be used in countries where the peak has not yet occurred, create a network of clean energy research institutes in the G-20 countries and the G20 countries should form an organization to create global standards in the field of green hydrogen, so that its production and use is encouraged. India will also make its full contribution to all these efforts, he said.

Modi further added “When we announced our goals in Paris, many asked if India would be able to do something like (create) 175 GW of renewable energy. But India is not only meeting those goals quickly, but is also busy set higher goals.”

In addition to its commitments in Paris, India has set itself a target of 26 million hectares of wasteland rehabilitation and Indian Railways, the largest passenger carrier in the world serving an average of 8 billion passengers each year, set a goal of “Net Zero by 2030,” he said. With this move, India’s railways will mitigate 60 million tonnes of carbon emissions per year, Modi said.

“We would like to work with our G20 partners to take India’s experience to other developing countries,” he asserted.

Noting that this is the first year of ‘Decade of Action’, PM Modi said, all have a shared responsibility that the benefits of global recovery reach all countries, and added that the role of G20 will be very important in this.

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