Current multilateral system failing to mitigate climate change: India
Addressing TERI's World Sustainable Development Summit, Union Environment Minister Bhupender Yadav said the current multilateral system is failing to address trans-boundary issues like climate change
- NEW DELHI — India on Wednesday said the current multilateral system is failing
to address global challenges like climate change and called for urgent reforms
in global governance to ensure that equity, justice and action remain central
to climate negotiations.
-
- Addressing TERI's World Sustainable Development Summit,
Union Environment Minister Bhupender Yadav said it is still technically
possible to keep global warming within the 1.5-degree Celsius limit, but this
would require developed countries to fulfil their commitments on financial and
technological support.
-
- "Global challenges demand global solutions. The
current multilateral system is failing to address trans-boundary issues like
climate change. We need urgent, structural reforms to global governance that
put equity, justice and action at the core of climate negotiations," Yadav
said.
-
- He added that the proposed USD 300 billion per year under
the New Collective Quantified Goal on Climate Finance (NCQG) by 2035 is far
below the required USD 1.3 trillion, leaving developing countries underfunded
in their climate efforts.
-
- Citing the 2024 UNEP Emissions Gap Report, he said:
"It is still technically possible for us to stay on the 1.5-degree Celsius
pathway, with solar energy, wind power and forests offering tremendous
potential for significant and rapid reductions in emissions.
-
- "However, to fully unlock this potential, we must
act with urgency and developed countries should honour and fulfil their
obligations, in particular, on means of implementation," the minister
said.
-
- He stressed that countries must strengthen their climate
action plans, known as Nationally Determined Contributions (NDCs), by including
measures that maximise social, economic and environmental benefits, with
stronger international cooperation as the foundation.
