India on climate change: $100 billion is a drop in the ocean

India's Chief Economic Adviser has said that poor countries need more than $100 billion in aid to fight the challenges of climate change. An important discussion on climate change is to be held this month at the United Nations Climate Change Conference (COP26).

Before the UN conference, there is increasing pressure on rich countries to take important financial steps for climate change. In 2009, the world's richest countries pledged $100 billion annually to help the poorest countries, who are least responsible for climate change, meet these challenges. However, this promise was never fulfilled.

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Where is India's commitment?

India's Chief Economic Adviser KV Subramanian told news agency Reuters that more than a hundred billion dollars in help are needed. "These hundred billion dollars that modern economies are talking about in the name of climate finance are actually a drop in the ocean. I think their contribution should be much higher," he said.

India has not yet made any commitment to reduce carbon emissions. That is, he has not yet been told by which year he will reduce the level of carbon emissions in the country to zero.

China has promised to reduce its carbon emissions to zero by 2060, while new US President Joe Biden has said that his country will reduce its carbon emissions by 50-52 percent to 2005 levels by 2030.

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Subramanian says that India, Asia's third-largest economy, will continue to add renewable sources to its energy resources and encourage industries to take advantage of clean energy.

He said that the government is providing benefits to such companies, which move towards clean energy. Subramanian said, "Without all these steps, talking about net zero is just talking about it."

India on climate change

 India has set up plants to generate 100 GW of renewable energy, which is about 25 percent of the total capacity. To meet its growing energy needs, India wants to take the generation of renewable energy to 450 GW by 2030.

Subramanian says that India wants an annual economic growth rate of more than 7 percent and will do everything possible for that. Generating electricity from coal will continue to be part of those efforts.

India is the third-largest emitter of greenhouse gas in the world. China and America are above that. That is why experts believe that India's role in the fight to stop climate change is very important.

Experts from all over the world are placing high hopes regarding the COP26 conference. He hopes that this conference will contribute to achieving the commitment of governments to prevent the earth's average temperature from rising by 1.5 °C. Scientists have set a limit of 1.5 degrees Celsius, above which a rise in average temperature can be disastrous.

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