Developed Countries must reach net-zero far earlier and deliver climate finance in trillions, not billions: Bhupender Yadav

Belem [Brazil], November 18 (ANI): Union Minister for Environment, Forest and Climate Change, Bhupender Yadav, delivered India's National Statement at the High-Level Segment of 30th Meeting of Conference of Parties (CoP30) to UNFCCC, at Belem, Brazil, on November 17. The Minister called for COP30 to be remembered as a 'COP of Implementation' and a 'CoP of Delivery on Promises', the ministry said in a statement.

The Minister conveyed India's appreciation to the Government and people of Brazil for hosting CoP30 in the heart of the Amazon, "a living symbol of our planet's ecological wealth"

Yadav strongly urged Developed Countries to demonstrate greater climate ambition and honour their commitments. He asserted, "Developed countries must reach net zero far earlier than current target dates and deliver new, additional, and concessional climate finance at a scale of trillions, not billions".

He further stressed the need for affordable, accessible climate technology and stated that climate technology must be free from restrictive intellectual property barriers.

The Minister highlighted that India, under the leadership of Prime Minister Narendra Modi, has demonstrated successfully that development and environmental stewardship can advance in tandem.

He highlighted that India's emission intensity has declined by over 36% since 2005, and non-fossil sources now account for more than half of our total electric power installed capacity (currently around 256 GW), an NDC target achieved five years ahead of our 2030 goal.

He further informed that India would be declaring its revised NDCs till 2035 and also the first Biennial Transparency Report on time.

Further, Yadav noted India's global leadership is demonstrated through initiatives such as the International Solar Alliance and Global Biofuel Alliance.

He also underscored the momentum created by the Nuclear Mission and Green Hydrogen Mission in advancing India's path to Net Zero by 2070.

The Minister stated that in line with the objectives of the Paris Agreement regarding conservation and development of carbon sinks and reservoirs, over 2 billion plants were planted under the community led initiative in just sixteen months. It is indeed a testament to the power of collective climate actions, he added.

The Minister concluded by reaffirming India's commitment to global climate cooperation and justice. He stated, "Let the next decade be one of implementation, resilience and shared responsibility". (ANI)

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