According to Union Minister Bhupender Yadav, India is making tremendous progress towards meeting its Paris Agreement obligations to limit global warming to 1.5 degrees Celsius.
India stands out among large economies, with per capita greenhouse gas emissions less than one-third of the global average. Despite having 17% of the world's population, India has historically contributed only 4% of global carbon emissions from 1850 to 2019.
Yadav also said that wealthy countries' failure to deliver their climate financing obligations is impeding developing countries' efforts to tackle climate change. Due to the potential for severe climate impacts, the global target set in 2015 to restrict temperature increases to less than 2°C, with an endeavor to attain 1.5°C, is critical. According to the National Oceanic and Atmospheric Administration (NOAA), there is a 99% possibility that 2023 will be the warmest year on record.
Yadav encouraged industrialized countries to keep their commitment to mobilize $100 billion in climate funding yearly by 2020 and to double their contribution to adaptation money by 2025. He emphasized India's progress, with 44% of the power generated from non-fossil fuel sources, exceeding the nationally decided contribution goal of 40% by 2030. Furthermore, India's green credit program supports environmental activities, helping the country meet its objective to reduce GDP emission intensity by 45% by 2030.