Prime Minister Narendra Modi on Sunday asked world’s top economies to build support systems focused on nations that have the maximum growth potential and pledged to quadruple India’s renewable power capacity to 175 gigawatt by 2022 and cut fossil fuel subsidies. In his lead intervention at G20 Working Lunch on Development and Climate Change, he offered points for consideration. Here is all you wanted to know in 10 points:
1. “I propose that we consider how G20 can build support systems that focus on countries with maximum growth potential, help address specific bottlenecks there and facilitate implementation of country strategies”.
2. “When we speak of targets, we must not only reduce the use of fossil fuel, but also moderate our life style. Development in harmony with nature is the goal of my proposal to launch, along with the French President Hollande, an alliance of solar-rich countries at the time of COP-21 meeting (in Paris later this month)”.
3. “The grouping of world’s top 20 economies including US and China must continue to focus on infrastructure. Clean energy and environment friendly infrastructure will address both development and climate change”.
4. “Bridging the current gap in infrastructure finance in the developing countries should remain our key priority”.
5. “Through bold economic and governance reforms, we have achieved a growth rate of nearly 7.5 per cent with strong prospects for a higher growth rate in the near future. Given our size and scale, India can become a pillar of global growth and stability.”
6. “Remittances are a key source of income for households and support for the economy in developing countries. We should define a target date before 2030 to reduce the high costs of transferring remittances”.
7. “G20 was still short on efforts to fulfil last year’s commitment to raise collective GDP by an additional 2 per cent by 2018”.
8. “G20 must align itself with the The Sustainable Development Goals (SDGs), which are a comprehensive set of goals that places complete elimination of poverty in the world by 2030 as its top goal. And, it creates the right balance between growth,development, human welfare and environment. India’s development goals are aligned with the SDGs”.
9. “We in India don’t see development and climate change as competing objectives. This is centred on the belief in the unity of humanity and Nature”.
10. India will raise renewable power generation capacity by 175 GW by 2022, cut in subsidies on fossil fuel and tax on coal and it created a $3 billion National Clean Energy Fund to promote clean technologies. With our highly ambitious/Intended Nationally Determined Contributions (INDCs), India would remain in step with the world. Also, G20 countries should increase the share of traffic on public transportation in cities by 30 per cent by 2030 and shift from ‘carbon credit’ towards ‘green credit’.
(With inputs from PTI)