India & Climate Change: Yadav at CII Summit

New Delhi, Sep 2 (PTI) India has faith in multilateralism and is committed to fighting climate change even though developed countries have failed in fulfilling their commitment to provide finance and technology to developing nations, Union Environment Minister Bhupender Yadav said on Tuesday.

Participating in a panel discussion during the 20th CII Sustainability Summit, he said climate change is a global threat but its impact is felt most severely by developing countries which are not responsible for the crisis.

"Our first stand is... we have faith in multilateral forums and our prime minister's clear message is that India will be part of the solution, not the problem," Yadav said.

"Developing nations need finance and technology to deal with climate change and developed countries have not fulfilled their commitments for a long time," he added.

India, the world's most populous country, has already fulfilled several commitments under its nationally determined contributions, the minister said.

"India is committed to addressing this challenge. A balance is required between ecology and development, and industry must take the lead in developing green technology."

The world needs to look at India's model of growth, Yadav said, adding that the country will lead the resurrection of global growth as the fastest growing major economy at around 7 per cent.

"In my view, India is the only country that has successfully adapted sustainable growth across the policy landscape through targeted scheme implementation, infrastructure investment, local commitment and tangible achievements on multilateral commitments," he said.

Discussing his meeting with COP30 President Andre Correa do Lago here on Monday, Yadav said they discussed ways to advance work on Article 6 of the Paris Agreement as well as issues related to climate finance and "the rights of the Global South".

This year's UN climate conference will be held in Belem, Brazil, in November amid growing scepticism about multilateral efforts, particularly in climate negotiations, following the disappointing outcome on finance at COP29 in Baku, the US withdrawal from the Paris Agreement, escalating trade tensions, policy uncertainties, and geopolitical conflicts.