Washington: Finance Minister Nirmala sitharaman The U.S. has said that climate financing remains a matter of concern as it has flagged India’s concerns on funding mechanisms and technology transfer.
His comment next. came before COP26 Summit To be held in Glasgow, United Kingdom. Leaders from nearly 200 countries, including India, will attend the high-level summit on climate change, scheduled to be held from October 31 to November 12, to discuss the way forward to tackle climate action and update their goals can be presented.
Sitharaman said that it is not clear how it was given in view of the commitment of $100 billion per year. COP21 has been extended.
“From my side, of course, an issue that I raised and it’s also something that a lot of people take cognizance of, is we really don’t know if there is any way to measure the money spent on a particular The measure was taken. Somebody’s project will be part of that $100 billion,” Sitharaman said after the conclusion of their meetings. International Monetary Fund (IMF) and world Bank Here on Friday.
“So, what constitutes $100 billion? How do we measure whether $100 billion is actually given or just a few of those given? So, not only is $100 billion coming in per year or not, But how do we measure whether it’s actually coming or not, that’s also one of the issues,” she said.
Sitharaman said that several participants in the meetings of the IMF and the World Bank highlighted this particular issue.
“So funding remains a concern for many countries, even for the transfer of technology,” she said.
“The issue, again, as far as the fund is, do we know which technology transfers we are asking for? Do we know what are the things that are to be debated and considered on the transfer of technology, said Sitharaman.
Responding to a question, the Finance Minister said that his view on this was not a reflection of his dissatisfaction.
“I am not saying this is a statement of dissatisfaction because India’s commitments have been met. There are only six countries that have kept commitments set at the national level.
“India has done more than it has done, and has also submitted a report to show that we have done it. What we have to achieve by 2030, we have already achieved… , and now that we have raised our expectations on renewables (energy), we are touching 450 GW (Gigawatts),” Sitharaman said.
“Therefore, I don’t think I can be disappointed or dissatisfied even for a moment, clearly on our side. We are moving ahead with our resources to fulfill our commitments,” the minister said.
There are things to do, he admitted.
“It is reminding, because the level at which there are many countries, the level of development at which each one has to be able to adhere to the commitment laid down at the national level, matters a lot,” Sitharaman said.
He also expressed concern over rising oil prices.
“So while I am investing more money in renewable energy and trying to be cleaner in the energy we produce, this price increase is something that is a matter of concern to me,” Sitharaman said.
Responding to a question, the Finance Minister said that permanent debt financing was discussed during the meetings.
Apart from her meetings at the IMF and the World Bank, Sitharaman held more than 25 bilateral events.
Sitharaman has concluded the Washington DC-leg of her US visit. From there she will travel to New York for interaction sessions with the business community before heading back home. She began her week-long trip from Boston on Monday.
His comment next. came before COP26 Summit To be held in Glasgow, United Kingdom. Leaders from nearly 200 countries, including India, will attend the high-level summit on climate change, scheduled to be held from October 31 to November 12, to discuss the way forward to tackle climate action and update their goals can be presented.
Sitharaman said that it is not clear how it was given in view of the commitment of $100 billion per year. COP21 has been extended.
“From my side, of course, an issue that I raised and it’s also something that a lot of people take cognizance of, is we really don’t know if there is any way to measure the money spent on a particular The measure was taken. Somebody’s project will be part of that $100 billion,” Sitharaman said after the conclusion of their meetings. International Monetary Fund (IMF) and world Bank Here on Friday.
“So, what constitutes $100 billion? How do we measure whether $100 billion is actually given or just a few of those given? So, not only is $100 billion coming in per year or not, But how do we measure whether it’s actually coming or not, that’s also one of the issues,” she said.
Sitharaman said that several participants in the meetings of the IMF and the World Bank highlighted this particular issue.
“So funding remains a concern for many countries, even for the transfer of technology,” she said.
“The issue, again, as far as the fund is, do we know which technology transfers we are asking for? Do we know what are the things that are to be debated and considered on the transfer of technology, said Sitharaman.
Responding to a question, the Finance Minister said that his view on this was not a reflection of his dissatisfaction.
“I am not saying this is a statement of dissatisfaction because India’s commitments have been met. There are only six countries that have kept commitments set at the national level.
“India has done more than it has done, and has also submitted a report to show that we have done it. What we have to achieve by 2030, we have already achieved… , and now that we have raised our expectations on renewables (energy), we are touching 450 GW (Gigawatts),” Sitharaman said.
“Therefore, I don’t think I can be disappointed or dissatisfied even for a moment, clearly on our side. We are moving ahead with our resources to fulfill our commitments,” the minister said.
There are things to do, he admitted.
“It is reminding, because the level at which there are many countries, the level of development at which each one has to be able to adhere to the commitment laid down at the national level, matters a lot,” Sitharaman said.
He also expressed concern over rising oil prices.
“So while I am investing more money in renewable energy and trying to be cleaner in the energy we produce, this price increase is something that is a matter of concern to me,” Sitharaman said.
Responding to a question, the Finance Minister said that permanent debt financing was discussed during the meetings.
Apart from her meetings at the IMF and the World Bank, Sitharaman held more than 25 bilateral events.
Sitharaman has concluded the Washington DC-leg of her US visit. From there she will travel to New York for interaction sessions with the business community before heading back home. She began her week-long trip from Boston on Monday.
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