Finance Minister Nirmala Sitharaman Urges Concrete Action on Climate Funding Ahead of COP28
ANI | Indian Finance Minister Nirmala Sitharaman calls for tangible steps on climate funding and technology transfer at COP28, emphasizing India's commitment to showcasing achievements with its own funds. Despite geopolitical tensions, the ambitious India-Middle East-Europe Corridor (IMEEC) remains unaffected, driven by a long-term vision. The comments were made during the India Global Forum Middle East and Africa 2023.
Union Finance Minister Nirmala Sitharaman has urged concrete action on climate funding and the transfer of technology ahead of the upcoming COP28 global climate summit. Speaking at the India Global Forum Middle East and Africa 2023 (IGF ME&A) inaugural event in Dubai, Sitharaman emphasized India's commitment to showcasing achievements funded by its own resources, citing challenges in climate finance for developing economies. She called for COP28 to provide clear directions on both technology transfer and funding, noting the crucial role of emerging market economies.
Scheduled for November 30 to December 12 in Dubai, COP28 will bring together policymakers and governments to formulate strategies for climate mitigation. Sitharaman acknowledged the challenges but affirmed that geopolitical tensions in the Middle East would not hinder the India-Middle East-Europe Corridor (IMEEC) announced at the G20 Summit. She highlighted IMEEC's long-term vision and resilience, stating that challenges would not impede its progress.
Under the theme 'Unleashing Ambitions,' IGF ME&A gathered business leaders, policymakers, and thought leaders from India, the Middle East, and Africa to explore collaboration opportunities. UAE's AI Minister, Omar Al Olama, stressed the importance of artificial intelligence (AI) and its impact on society. He criticized calls for universal AI regulation, citing the diverse impacts across regions and the need for context-specific approaches.
IGF Forum featured interventions from various figures, including Paytm CEO Vijay Shekhar Sharma, Gujarat Industries Minister Harsh Sanghavi, Author and Monk Gaur Gopal Das, Sandeep Aggarwal (Founder and CEO of Droom Technology), and representatives from Zupee and other startups. The event also recalled Prime Minister Narendra Modi's "Panchamrit" pledge at COP26, committing India to ambitious targets, including 500 GW of non-fossil electricity capacity, half of energy from renewables, a billion-tonne emissions reduction by 2030, a 45% decrease in emissions intensity of GDP, and net-zero emissions by 2070.
SOURCE: ANI
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