‘Climate change likely to be key during ‘G20 presidency’

Prime Minister Narendra Modi stressed that a universal sense of unity will guide India when it formally assumes the presidency of the G20, a bloc of the world’s richest economies, next year. India will host around 200 events in 50 cities during his tenure: it will host G20 leaders at their annual summit in September next year.

Climate change and G20 presidency

Programs to encourage sustainable living and money for countries to transition to clean energy are some of the key areas India would focus on during its presidency, experts said.

Some say India would also use its new position to boost its climate credentials and act as a bridge between the interests of industrialized and developing nations.

The country has made considerable progress toward its climate goals in recent years, but it is one of the world’s top emitters of greenhouse gases.

It is imperative that the G20 focus its efforts on developing a strong policy, regulatory, institutional and market ecosystem to accelerate the transition from the existing ‘brown’ economy to a more sustainable and low carbon one.

Climate change mitigation

Global conversations about the challenges of climate change have been dominated by concerns about climate change mitigation, and climate adaptation has not received the necessary attention. Similarly, climate finance flows to developing nations are significantly short of their financial needs for immediate and adequate climate action. India’s G20 presidency is expected to champion the cause of developing nations in tackling climate change.

The country “will be largely focused on responding to current and future challenges posed by climate change,” said Samir Sarin, president of the Observer Research Foundation, a New Delhi-based think tank.

The basis is to anchor the T20, a group of experts from the 20 member countries whose participants meet together with the G20.

Mission Life” programme

Sarin said India would work to ensure money flows from wealthy industrialized nations to emerging economies to help them combat global warming, such as a $100 billion-a-year pledge for clean energy and climate change adaptation for developing nations. poor who has not yet met. has been fulfilled, and a recent promise to vulnerable countries that there will be a fund for loss and damage caused by extreme weather.

Sarin added that India would also use the presidency to boost its flagship “Mission Life” programme, which encourages more sustainable lifestyles in the country.

When outgoing President Indonesia formally handed over the presidency in Bali last month, Indian Prime Minister Narendra Modi took the opportunity to promote the program, saying it could make “a great contribution” by making sustainable living “a mass movement”.

Transitioning to renewable energy sources

India has been bolstering its climate credentials, with its national targets for transitioning to renewable energy sources more ambitious than the targets it presented to the UN as part of the Paris Agreement.

Many of India’s big industrialists are investing heavily in renewable energy sources domestically and globally, but the Indian government is also preparing to invest in coal-fired power plants at a cost of USD 33 billion over the next few years. next four years.

At the UN climate conference last month, India, the world’s third-biggest emitter of greenhouse gases, proposed phasing out all fossil fuels and repeatedly stressed the need to renew global climate finance.