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Need 100 billion USD for ‘mitigation and adaptation’: PM Modi

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Highlighting the targets that India has set for itself in regard for a safer planet, Prime Minister Narendra Modi on Tuesday announced a 35 per cent cut in emissions by 2030 while putting the onus on developed countries to mobilize 100 billion US dollars annually by 2020 for ‘mitigation and adaptation’.

“By 2030 we will reduce emissions by 35% of 2005 levels, & 40% of our installed capacity will be from non fossil fuels. We will achieve it by expanding renewable energy, for example by adding 175 gigawatts of renewable energy capacity by 2022. We are reducing dependence on fossil fuels through levies & reduction in subsidies, switching sources where possible,” the Prime Minster said at the Climate Change Conference (COP21) Plenary.

Saying that over the next few days the fate of the planet will be decided, he called for genuine global partnership and added that India must grow rapidly to meet energy needs of everyone

“India must grow rapidly to meet the aspirations of 1.25 billion people of which 300 million are still without access to energy. The prosperous still have a strong carbon footprint but the world’s billions at the bottom of the development ladder are seeking space to grow. We will succeed if we have the wisdom to craft a collective partnership that balances responsibilities and capabilities,” the Prime Minister said.

Putting the onus on developed nations for taking the lead in the matter, he expressed hope that advanced nations will assume ambitious targets and pursue them as they have the most room for impact.

“The principles of equity and common but differentiated responsibilities must remain the bedrock of our collective enterprise. We look to the developed countries to mobilize 100 billion US Dollars annually by 2020 for mitigation and adaptation. We will succeed if we have the wisdom to craft a collective partnership that balances responsibilities and capabilities,” Prime Minister Modi said. (ANI)