India Firm On Greater Climate Funds From Developed Nations, Says Amitabh Kant — BQ Exclusive

India will push for climate responsibility and financing during its presidency of Group of 20 bloc, according to Amitabh Kant.

The year-long presidency will look to ensure a greater flow of finances from the developed world into the developing world, for both climate action and sustainable development goals, Kant, India’s G20 sherpa, said in an interview with BQ Prime last week.

India has not contributed to carbonising the world as much as the developed nations, he said. “Of the total carbon space available, almost about 88% has been occupied by the developed world.”

The principle of just transition was accepted the developed world committed to financing the developing world, he said “(But) They have not lived up to it. And, therefore, the key focus will be that of climate finance.”

India assumes presidency in the wake of the Covid-19 pandemic, amid looming concerns of a global recession and the ongoing geopolitical tensions in Ukraine.

The pandemic has seen 200 million people in the world go below the poverty line, about 100 million people lose their jobs, global supply chains disrupted and 70 countries facing a global debt crisis, Kant said. “…So the SDGs (Sustainable Development Goals) which are to be implemented by 2030, instead of progressing, they are regressing.”