New Delhi, Union Environment Minister Bhupendra Yadav on Tuesday said developing countries need more than US$5 trillion to meet their climate targets by 2030, adding to the US$100 billion promised earlier by developed countries. Is "too small".
Addressing the 19th Sustainability Summit organized by the Confederation of Indian Industry (CII), Yadav said developed countries, which have historically been responsible for most of the greenhouse gas emissions and allocate a large share of the global carbon budget, have committed 100 Billion US dollars and technology transfer were promised. Helping developing countries deal with climate change.
He said, "But they failed on both fronts... Now, developing countries need more than US$5 trillion. US$100 billion is a very small amount."
He said that if poor countries like Ethiopia were to adopt the consumption patterns of developed countries, humanity would need the resources of seven earths to meet global demands.
Yadav also said that the consumption pattern in India is in line with African countries because of their sustainable lifestyle.
He said that developing countries need energy for development to ensure a dignified life for their citizens.
Financial assistance for middle-income and poor countries to tackle climate change will be a central issue at the upcoming UN climate conference in Baku, where countries will finalize new collective quantitative targets (NCQGs) – new target amounts that will be set by developed countries. Required to be mobilized annually, starting in 2025, to support climate action in developing countries.
Addressing the 19th Sustainability Summit organized by the Confederation of Indian Industry (CII), Yadav said developed countries, which have historically been responsible for most of the greenhouse gas emissions and allocate a large share of the global carbon budget, have committed 100 Billion US dollars and technology transfer were promised. Helping developing countries deal with climate change.
He said, "But they failed on both fronts... Now, developing countries need more than US$5 trillion. US$100 billion is a very small amount."
He said that if poor countries like Ethiopia were to adopt the consumption patterns of developed countries, humanity would need the resources of seven earths to meet global demands.
Yadav also said that the consumption pattern in India is in line with African countries because of their sustainable lifestyle.
He said that developing countries need energy for development to ensure a dignified life for their citizens.
Financial assistance for middle-income and poor countries to tackle climate change will be a central issue at the upcoming UN climate conference in Baku, where countries will finalize new collective quantitative targets (NCQGs) – new target amounts that will be set by developed countries. Required to be mobilized annually, starting in 2025, to support climate action in developing countries.
