Finance Minister Nirmala Sitharaman demands real commitments on climate funding and tech transfer, setting the tone for COP28
In a powerful call for global climate action, Union Finance Minister Nirmala Sitharaman has demanded tangible climate funding and technology transfer steps at the upcoming COP28 summit. During the inaugural India Global Forum Middle East and Africa 2023 held in Dubai, Sitharaman stressed the need for actual commitments, not just empty promises.
Sitharaman also reiterated India's commitment to showcasing its climate achievements. She proudly stated that India has already provided funding for the Paris Agreement, despite the hundred billion promised by developed countries not materialising. She emphasised the importance of not just talking about technology transfer but also having a clear plan for its implementation.
In her address, the Finance Minister emphasised the importance of climate finance, including support for mitigating and adapting to climate change. She highlighted that funding these efforts will be a major challenge, especially for developing and emerging market economies. She suggested that while discussions can take place, COP28 should guide the direction for technology transfer and actual funding to combat climate change.
As the 2023 United Nations Climate Change Conference (COP28) looms, Sitharaman's call for action echoes the global urgency to address the pressing climate crisis. The conference, scheduled from November 30 to December 12 in Dubai, is expected to draw policymakers and governments worldwide to chart strategies for future climate mitigation.
Acknowledging potential challenges, Sitharaman reassured that current geopolitical tensions in the Middle East would not derail the ambitious India-Middle East-Europe Corridor (IMEEC) announced during the G20 Summit in September.
The India, Middle East, and Europe Economic Corridor (IMEEC) is a long-term project. It will not depend on any single major event in the region and will be pursued because India has an excellent relationship with each Middle Eastern country. The vision for IMEEC will drive its implementation over the long run, and it is not tied to any specific current concern.
As the world awaits the critical COP28 summit, Sitharaman's impassioned plea for concrete action underscores the need for a collective, actionable commitment to combat climate change globally.