Page 30 - NIS English January 16-31,2023

Cover Story India's G20 Presidency

INDIA WILL PUT PRESSURE ON DEVELOPED

COUNTRIES TO PROVIDE FUNDING ON TIME

CLIMATE CHALLENGES ISSUE

limate finance is the master key to driving collective quantitative target for climate finance of
green growth and change. In the midst of $100 billion per year to assist developing countries.
Cthe world's growing climate crisis, action The Glasgow and Paris climate agreements were
on this cannot be postponed any longer. As also remembered at this time. This is why, during its
developed countries are responsible for significant G-20 presidency, India wishes to remind developed
greenhouse gas emissions, India has consistently countries of the gravity of the situation.
fought for climate finance in international fora to During its G-20 presidency, India will urge
address the climate crisis. In such a situation, one developed countries for financial, technical, and
of the G-20's primary responsibilities is to persuade capacity-building assistance to combat climate
developed countries to discuss climate finance. At change. Given their responsibility for greenhouse
the 2009 Global Climate Summit in Copenhagen, a gas emissions, India believes that developed
joint pledge of $100 billion per year to developing countries should take the lead in mobilising
countries was made, but that promise has only been resources to combat climate change. Funds
partially fulfilled more than a decade later. should be allocated equally between the adoption
The Bali Declaration of the Leaders, issued at of new methods and projects to reduce carbon
the G-20 Bali Summit on November 15-16, 2022, emissions. India's "Panchamrit" concept for energy
under the chairmanship of Indonesia, also urged security will highlight the country's efforts during
developing countries to strengthen policies and its G-20 presidency. As the world's fastest-growing
mobilise financing from all sources in a predictable, economy, India will emphasise the importance of
adequate, and timely manner to address the climate energy security for global development during this
crisis. The requirement was accepted. It also stated period. That is why India opposes any restrictions
that they support ongoing discussions on a new on energy supply to ensure energy market stability.

28 New India Samachar January 16-31, 2023