Union Environment Minister Bhupendra Yadav, on Wednesday, addressed the opening  ceremony of the G20 Environmental & Climate ministerial meeting in Bali. While addressing the ceremony he said that there was an urgent need to mobilize resources to stimulate the economy in a manner that makes it more resilient and sustainable.

The world is going through multiple crises, with rising energy bills, food insecurity, capital plight from developing countries and a pandemic that continues to push back years of progress in sustainable development, he added.

LIVE: Addressing the Opening Ceremony of G20 Environmental and Climate ministerial meeting in Bali https://t.co/f79XRQKTQI

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— Bhupender Yadav (@byadavbjp) August 31, 2022

Countries with less carbon emission more affected

He noted that alongside the ongoing crises there are growing threats of climate change, biodiversity loss and land and ocean pollution.

The Union minister pointed out the fact that these environmental stresses put an additional burden on the poorest and most vulnerable countries who contribute very little carbon emission and create very less environmental problems. Their development and aspiration also remains unfulfilled.

He requested all the fellow countries to see the growth of all these countries to ensure social equity and justice.

Slow climate finance from developed countries

 “There is an urgent need to mobilize resources to stimulate the economy in a manner that makes it more resilient and sustainable. But the current pace and scale of climate finance from developed countries is not matching the global aspiration to combat climate change,” he added.

He also stressed that collectively work is needed to turn ambition into action in accordance with the principle of common but differentiated responsibilities and respective capabilities.

India is committed to driving low carbon industry

“India, under Prime Minister Narendra Modi is committed to driving its low carbon industry transitions through a multi-pronged approach cutting across sectors. The low carbon growth strategy as enunciated in ‘Panchamrit’ is a reflection of our commitment to sustainable development,” he added.

Further the union minister pointed G20 members’ attention towards India’s recent budget allocation for the need of combating climate change.