Finance Minister Nirmala Sitharaman on Wednesday, August 18, said India is among a few G20 countries on track towards United Nations Framework Convention on Climate Change (UNFCCC) and Paris Agreement goals and has taken decisive actions to tackle climate change.
Sitharaman, in a meeting with COP 26 president-designate Alok Sharma, said the government is taking solid steps to meet its commitments on the target of 450 GW of renewable energy by 2030. 100 GW of this renewable energy had already been achieved. She discussed various issues related to climate change and specifically COP 26 -- the 26th UN Climate Change Conference of the Parties, a Finance Ministry statement said.
"The Finance Minister expressed hope that the commitment made by the developed countries to provide USD 100 billion per year to developing countries would be achieved and was optimistic about a positive outcome on the new collective goals on finance in COP 26," it added.
The Paris Agreement: Treaty On Climate Change
The Paris Agreement, which is a legally binding international treaty on climate change, was adopted by 196 countries at COP 21 in Paris on December 12, 2015. It entered into force on November 4, 2016. The goal of the agreement is to limit global warming to well below 2, preferably to 1.5 degree Celsius, compared to pre-industrial levels. Sitharaman also mentioned the extensive work done on Hydrogen Energy Mission.
Sharma became the second international leader, after US climate change envoy John Kerry, to laud India's climate change commitments. "I met Prime Minister Modi the last time I was here and we discussed a range of issues from biodiversity to nature. He (Modi) cares deeply about climate change issues," said Sharma, speaking to a small group of reporters at the end of his visit to New Delhi.
Sharma hoped the Glasgow meeting would lead to a consensus on limiting the temperature rise to 1.5 degrees Celsius. However, this is only possible if India commits to a net-zero target by 2050.