UN Trade Forum event: Decouple trade policy from green goals: Goyal

By: |
June 15, 2021 2:15 AM

Speaking at a virtual event of the UN Trade Forum, Goyal said: “I do believe we have to decouple trade policy and green goals. Let the trade policy look for more inclusive growth all over the world and let us all work towards what my Prime Minister has said climate justice and sustainable lifestyle.”

India has been maintaining that it is not a polluter and the cause of climate change. It has voluntarily committed to trimming greenhouse gas emission intensity of its GDP by 33-35% below 2005 levels by 2030.

Commerce and industry minister Piyush Goyal on Monday pitched for decoupling trade policy from environmental goals, and called on the developed world to not use trade “as a means to foist conditionalities” on poor and developing nations.

Speaking at a virtual event of the UN Trade Forum, Goyal said: “I do believe we have to decouple trade policy and green goals. Let the trade policy look for more inclusive growth all over the world and let us all work towards what my Prime Minister has said climate justice and sustainable lifestyle.”

He hoped that the developed world “would not use the interplay of trade and climate challenges too much”. Trade, Goyal stressed, should allow all countries to prosper and there should be no barriers in it. The United Nations and other multilateral agencies should, instead, focus on getting the world together to fulfil their commitments around climate change.

Pushing for “differentiated responsibilities” towards climate change, Goyal highlighted how developed countries have long used the carbons space to produce low-cost energy, which helped them develop infrastructure and bring prosperity to their people. India, on the contrary, has had very little per-capita contribution to the global carbon emissions, he asserted. “I think it’s important that there should be differentiated responsibilities when it comes to the less-developed or the developing world and the developed countries,” he said.

Still, India, which played an important role in gathering a climate goal consensus in Paris, “would love to do better than what we have committed there”. “We are confident we would exceed our commitment.”

India has been maintaining that it is not a polluter and the cause of climate change. It has voluntarily committed to trimming greenhouse gas emission intensity of its GDP by 33-35% below 2005 levels by 2030.

Do you know What is FinMin releases Rs 9,871 cr grant to 17 state, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1India expected to see 7 pc growth next fiscal: CEA
2Cabinet clears amendment to DICGC Act; bank depositors to get coverage of up to Rs 5 lakh
3Cabinet Briefing Highlights: Depositors of troubled banks to now get money back in 90 days, Nirmala Sithraman says