Prime Minister Narendra Modi has said that India is committed to achieve net-zero carbon emissions by 2070. Nevertheless, developed countries must deliver on their promises on climate finance.
“The need of the hour is to put pressure on countries that have failed to deliver on their promises regarding climate finance,” Modi said in his national statement at the COP26 climate change summit in Glasgow on Monday.
India has come out with a timeline for reaching net-zero or carbon neutrality for the first time, but the target date of 2070 is pushing for developed countries twenty years later. Net-zero emissions occur when all human-made greenhouse gas emissions are removed from the atmosphere through reduction measures that help stabilize global temperatures.
Committed to reducing carbon emissions
The PM also announced that India will reduce carbon emissions by 1 billion tonnes out of the total projected emissions by 2030 and reduce the carbon intensity in its economy by 45 percent.
“With 17 per cent of the global population, India is responsible for just 5 per cent of emissions,” Modi said. He said India was working on the Paris Declaration commitments to tackle climate change in “letter and spirit”.
non-fossil fuel targets
When India took an ambitious pledge to achieve 450 GW of installed capacity by 2030 through non-fossil fuel sources, it was seen as over-ambitious. Now, India is not only on track to achieve this target, but India has decided to take it further to 500 GW, according to sources. India has also promised to meet 50 percent of its energy needs from renewable energy by 2030.
“The PM gave a clear message to the developed countries that as India has increased its ambition in setting its goals, it also needs to increase its ambitions in climate finance and technology transfer. The world cannot achieve the new goals with the old goals of climate finance.”
Also read- COP26: India, Brazil, China, South Africa seek $100-b climate finance aid
Earlier on Monday, Union Minister for Environment, Forest and Climate Change Bhupender Yadav on behalf of Brazil, China and South Africa announced annual climate finance assistance to developing countries to meet their existing obligations towards carbon emissions. Inspired to raise $100 billion. . He said the plan should include providing finance for the next five years from 2021 to 2025.
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