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PM Modi calls for affordable and assured climate finance for Global South
Highlighting India’s commitment to sustainable development while speaking at the G20 Summit in Rio de Janeiro, Brazil on Tuesday (November 19, 2024), Prime Minister Narendra Modi said the country was moving towards more ambitious goals when it comes to renewable energy.
India was the first G-20 country to have fulfilled the commitments it made under the Paris agreement, ahead of time, he stated while speaking at the G20 Session on Sustainable Development and Energy Transition. “We are rapidly moving towards more ambitious goals. We had set ourselves the target of achieving 500 Gigawatts of renewable energy by 2030. We have already achieved 200 Gigawatts of that,” Prime Minister Modi pointed out.
In his remarks, he explained how India had made green transition a people’s movement, with approximately 10 million families registering for the world's biggest solar roof top program.
Prime Minister Modi also highlighted the following initiatives:
1. India launched the International Solar Alliance. Over 100 countries have joined it. Under the "One Sun One World One Grid” initiative, we are cooperating on energy connectivity.
2. India has set up a Green Hydrogen Innovation Centre and launched a Global Biofuel Alliance.
3. We are also running an extensive waste to energy campaign in India. In order to address challenges related to critical minerals, we have focused on a circular approach.
4. Under the “One tree for mother” campaign, we have planted about a billion trees in India this year.
5. India launched the Coalition for Disaster resilient infrastructure initiative. Under this, we are now also focusing on Post-Disaster Recovery and Reconstruction.
PM Modi Calls for Affordable and Assured Climate Finance
According to Prime Minister Modi, economic development is a priority for countries of the Global south, and in particular, for Small Island Developing States.
“In the digital age, and given the growing influence of AI, the need for a balanced and appropriate energy mix becomes all the more important. Therefore affordable and assured climate finance for energy transition in the Global south, has become even more important,” he noted.
It is also essential for developed countries to fulfill their commitments to provide technology and finance in a timely manner, Prime Minister Modi added.
Additionally, he spoke about how India was sharing its successful experiences with all friendly countries, in particular with the Global south. “During the 3rd Global south summit, we had also announced a Global Development Compact. I urge all of you to join us in this initiative and partner with us in our efforts,” Prime Minister Modi said.
India was the first G-20 country to have fulfilled the commitments it made under the Paris agreement, ahead of time, he stated while speaking at the G20 Session on Sustainable Development and Energy Transition. “We are rapidly moving towards more ambitious goals. We had set ourselves the target of achieving 500 Gigawatts of renewable energy by 2030. We have already achieved 200 Gigawatts of that,” Prime Minister Modi pointed out.
In his remarks, he explained how India had made green transition a people’s movement, with approximately 10 million families registering for the world's biggest solar roof top program.
Prime Minister Modi also highlighted the following initiatives:
1. India launched the International Solar Alliance. Over 100 countries have joined it. Under the "One Sun One World One Grid” initiative, we are cooperating on energy connectivity.
2. India has set up a Green Hydrogen Innovation Centre and launched a Global Biofuel Alliance.
3. We are also running an extensive waste to energy campaign in India. In order to address challenges related to critical minerals, we have focused on a circular approach.
4. Under the “One tree for mother” campaign, we have planted about a billion trees in India this year.
5. India launched the Coalition for Disaster resilient infrastructure initiative. Under this, we are now also focusing on Post-Disaster Recovery and Reconstruction.
PM Modi Calls for Affordable and Assured Climate Finance
According to Prime Minister Modi, economic development is a priority for countries of the Global south, and in particular, for Small Island Developing States.
“In the digital age, and given the growing influence of AI, the need for a balanced and appropriate energy mix becomes all the more important. Therefore affordable and assured climate finance for energy transition in the Global south, has become even more important,” he noted.
It is also essential for developed countries to fulfill their commitments to provide technology and finance in a timely manner, Prime Minister Modi added.
Additionally, he spoke about how India was sharing its successful experiences with all friendly countries, in particular with the Global south. “During the 3rd Global south summit, we had also announced a Global Development Compact. I urge all of you to join us in this initiative and partner with us in our efforts,” Prime Minister Modi said.
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