Ayanangsha Maitra | Lead, TheNewsSite.In |
NEW DELHI: Developing countries cannot shoulder the cost of the global energy transition alone, UN climate chief Simon Stiell said on Tuesday, urging developed nations to honour their climate finance commitments in full and significantly scale up support.
“International climate finance is vital for developing countries,” Stiell said while speaking at the UN House in New Delhi. “All commitments must be honoured, and honoured in full.”
Simon Stiell , Executive Secretary of the United Nations Framework Convention on Climate Change (UNFCCC) called on developed countries to triple adaptation finance and deliver $300 billion annually by 2035, as part of a credible pathway to mobilising $1.3 trillion a year for global climate action.
Addressing the gathering, which TheNewsSite.In was invited, Stiell said, “For all nations, oil and gas import vulnerability means supplies disrupted and prices rising when crises hit.”
Praising India’s accelerating shift towards renewable energy and low-carbon development, UNFCCC described the country as a model for other emerging economies.
“India’s clean energy growth is like Sachin Tendulkar and Vaibhav Suryavanshi rolled into one: a stellar record, but the story is just getting started,” Stiell who hails from Cricket loving Caribbean said. “If India keeps doubling down on renewables and clean tech, the next chapters promise to be truly extraordinary.”
Stiell further said decarbonisation had become central to India’s development strategy, helping the country forge “a new path for others to follow”. His remarks come as India reaches a series of major clean energy milestones. Fossil fuel-free electricity sources now account for around half of the country’s installed power generation capacity – an achievement reached five years ahead of schedule.
India has also emerged as one of the world’s fastest-growing electric vehicle markets, led by domestic manufacturers including Tata Motors, Mahindra & Mahindra and JSW MG Motor India, he remarked.
The country’s solar expansion has been particularly striking. Installed solar capacity has increased more than 50-fold since 2014, while domestic solar manufacturing capacity has expanded 75-fold over the same period, he said on Tuesday.
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