Indian Union Environment Minister, Bhupender Yadav, asserted that hastening the low-carbon transition in various economic sectors is urgently needed. The statement came during the Ministerial Roundtable for the Green Economy on Wednesday at the World Green Economy Summit in Dubai.
The Union Minister stressed the significance of both economic development and climate action projects during his remarks to the roundtable. The Minister also listed the accomplishments made possible by a number of climate change policies and alliances undertaken by the Indian government. He mentioned international programs like the International Solar Alliance and other programs to support the green economy in important industries like energy, transportation, agriculture, and forestry.
The minister referred to the ISA-Solar Risk Mitigation Initiative and GIFT city, as well as the steps taken by India to promote sustainable finance, including sovereign green bonds and blended finance. On climate finance, Yadav stated that the Glasgow Financial Alliance for Net Zero estimates a requirement of USD 100 trillion in finance for global net zero by 2050. He said developed countries have failed even in mobilizing the amount of USD 100 billion per annum by 2020, and India's NDCs are thus largely financed by domestic investment. Following the roundtable, Dr Thani bin Ahmed Al Zeyoudi, the UAE Minister of State for Foreign Trade, and the Union Minister of India held a bilateral talk. They discussed COP27, COP28, the MoU between India and the UAE on climate action, and international campaigns against climate change led by the UAE and India.
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Technology is a useful servant, but a dangerous master, it was rightly said. Electronic devices have grown into an inevitable part of our daily lives.
