WASHINGTON: India Finance Minister Nirmala Sitharaman here said the financing of climate continues to be an area that is worried because it marks concerns over the mechanism of funding and technology transfer.
It is not clear how the $ 100 billion commitment per year given after COP21 has been extended, Sitharaman said after the conclusion of his meeting at the International Monetary Fund (IMF) and the World Bank here.
“From my side of course one of the problems I lift and that is also something that many people do ammunition are we don’t know whether there are actions given to measure if money is spent on a particular project by someone will be part of $ 100 billion.
“Sitharaman said.
“So, what is $ 100 billion? How do we measure if actually $ 100 billion has been given or only a few of them have been given? So, not only that USD100 billion per year will come or not but how we measure it indeed comes or not , also one of the problems, “he said.
Sitharaman said some participants both at the IMF meeting and the World Bank highlighted the problem.
“So funds continue to be a matter of concern for many countries, even as many as technology transfers,” he said.
“The problem is, once again, just as in funds, do we know which technology do we ask for the transfer? Do we know which is the things that must be considered for technology debate and transfer,” he said.
Responding to questions, the Minister of Finance confirmed that his vision of this was not a reflection of his dissatisfaction.
“I did not say it was a statement of this dissatisfaction because India’s commitment was fulfilled.
There are only six countries that maintain a nationally determined commitment.
More than done, and also submit a report to show that this is what we have done.
What to achieve in 2030 , we have reached …
almost reached, and now we have increased our expectations on renewable, we touched 450 gw, “he said.” So, I can’t.
Even for a moment, disappointed or dissatisfied, clear of our side.
We move With our own resources in fulfilling our commitment, “said Minister.
There are things to do, he recognizes.
“This reminded, because the level in which many countries are, the level of development where each has to be able to comply with the nationally determined commitment itself is very meaningful,” he said.
Sitharaman also expressed concern for growing oil prices.
“Even when I put more money into renewable energy and try to be cleaner in energy.
What we produce, this price increase is something that will be a concern for me,” he said.
Responding to questions, the Minister of Finance said that sustainable debt funds were discussed during the meeting.
In addition to his meeting at the IMF.
And the World Bank, Sitharaman has more than 25 bilateral involvement.
Sitharaman has concluded that the Washington DC trip from US journey.
From here, he will go to New York for an interactive session with the business community before flying back home.
He began a long week trip from Boston.
Climate Financing Area Concerns, said Nirmala Sitharaman
