India calls for hike in climate finance to 1,000 billion dollars
India calls for hike in climate finance to 1,000 billion dollars
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New Delhi: On Tuesday, Union Minister for Environment, Forest and Climate Change Bhupender Yadav urged the Like-Minded Developing Countries (LMDC) to work together to protect developing countries' interests, stating that climate finance cannot remain at 2009 levels and must be increased to at least USD 1,000 billion to meet the goals of addressing climate change.

Speaking at the LMDC Ministerial Meeting on the sidelines of COP 26 in Glasgow, the minister emphasised the need of the LMDC's unity and strength in the UNFCCC discussions to protect the interests of the Global South in the battle against climate change.

The Environment Minister further stated that India is working on ambitious climate initiatives in accordance with sustainable development aspirations under Prime Minister Narendra Modi's vibrant and visionary leadership. He urged LMDC members to join India in supporting global initiatives such as the International Solar Alliance, the Coalition for Disaster-Resilient Infrastructure (CDRI), and the Leadership Group for Industry Transition (LeadIT). The Minister also praised the Third World Network (TWN) for its support of LMDC, emphasising the need of ensuring TWN's resources.

India, China, Cuba, Nicaragua, and Venezuela were among the countries represented at the meeting. Yadav emphasised that acknowledging the current issues confronting poor countries necessitated increased multilateral cooperation rather than increased global economic and geopolitical competitiveness and trade wars.

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