https://sputniknews.in/20230722/modi-urges-g20-to-ensure-low-cost-climate-finance-tech-for-global-south-3134084.html
Modi Urges G20 to Ensure Low-Cost Climate Finance, Tech for Global South
Modi Urges G20 to Ensure Low-Cost Climate Finance, Tech for Global South
Sputnik India
Indian Prime Minister Narendra Modi has called upon the fellow G-20 nations to ensure low-cost finance and technology for the Global South.
2023-07-22T11:57+0530
2023-07-22T11:57+0530
2023-07-22T11:57+0530
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Prime Minister Narendra Modi has called upon India's fellow G-20 nations to ensure low-cost financing and technology for the Global South so that they are able to meet the climate transition goals and ensure energy security. The meeting is being chaired by India’s Minster of Power and New and Renewable Energy RK Singh.Modi highlighted that New Delhi was promoting “mutually beneficial cooperation” with its south Asian neighbors in a bid to help them with their energy security as these nations transition to clean energy.“And I can tell you, we are seeing encouraging results,” he said.Modi said that “inter-connected green grids” among different countries could not only help in meeting the climate goals but also “stimulate green investment” and create millions of jobs in the renewable sector.According to India’s Ministry of Power, the Indian electricity grid is connected to those of Nepal, Bhutan, Bangladesh and Myanmar. Additionally, New Delhi is in talks with Sri Lanka to connect their nations' electricity grids.The India-Sri Lanka Economic Partnership Vision Document was released after talks between Prime Minister Modi and Sri Lankan President Ranil Wickremesinghe in New Delhi on Friday amid calls for establishing a power grid connection between the maritime neighbors.India Making ‘Great Efforts’ Towards Energy Transition, Modi SaysPM Modi told the G-20 energy ministers and other delegates that India was making “great efforts in green growth and energy transition.”At the UN Climate Change Conference in Glasgow (COP26) in 2021, India pledged to cut its emissions to net zero by 2070.He also described New Delhi as one of the “global leaders” in solar and wind power.Modi said that India was also working on a “mission mode” to develop Green Hydrogen as an “alternative” source of fuel.“The aim is to make India a Global Hub for the production, use, and export of Green Hydrogen and its derivatives. We are happy to share our learnings,” the Indian leader remarked.
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Modi Urges G20 to Ensure Low-Cost Climate Finance, Tech for Global South
According to the UN Environment Programme (UNEP), climate adoption finance flows to the developing nations are 5-10 times below the estimated needs.
Prime Minister Narendra Modi has called upon India's fellow
G-20 nations to ensure low-cost financing and technology for the
Global South so that they are able to meet the
climate transition goals and ensure energy security.
“The world looks up to this group to advance sustainable, just, affordable, inclusive, and clean energy transition,” Modi said in a video address to the G-20 Energy Ministerial Meeting in Goa on Saturday.
The meeting is being chaired by India’s Minster of Power and New and Renewable Energy RK Singh.
The Indian Prime Minister stressed the need to “bridge technology gaps, promote energy security, and work on diversifying supply chains.”
Modi highlighted that New Delhi was promoting “mutually beneficial cooperation” with its south Asian neighbors in a bid to help them with their energy security as these nations transition to clean energy.
“And I can tell you, we are seeing encouraging results,” he said.
Modi said that “inter-connected green grids” among different countries could not only help in meeting the climate goals but also “stimulate green investment” and create millions of jobs in the renewable sector.
According to India’s Ministry of Power, the Indian electricity grid is connected to those of Nepal, Bhutan, Bangladesh and Myanmar. Additionally, New Delhi is in talks with Sri Lanka to connect their nations' electricity grids.
The India-Sri Lanka Economic Partnership Vision Document was released after
talks between Prime Minister Modi and Sri Lankan President Ranil Wickremesinghe in New Delhi on Friday amid calls for establishing a power grid connection between the maritime neighbors.
India Making ‘Great Efforts’ Towards Energy Transition, Modi Says
PM Modi told the G-20 energy ministers and other delegates that India was making “great efforts in green growth and energy transition.”
“India is the most populated nation and the fastest-growing large economy in the world. Yet, we are moving strongly on our climate commitments,” Modi said.
At the UN Climate Change Conference in Glasgow (COP26) in 2021, India pledged to cut its emissions to net zero by 2070.
Modi noted that India has achieved its non-fossil installed electric capacity target “nine years in advance” and planned to achieve “50 percent non-fossil installed capacity by 2030.”
He also described New Delhi as one of the “global leaders” in solar and wind power.
Modi said that India was also working on a “mission mode” to develop Green Hydrogen as an “alternative” source of fuel.
“The aim is to make India a Global Hub for the production, use, and export of Green Hydrogen and its derivatives. We are happy to share our learnings,” the Indian leader remarked.
