“The private sector plays an important part in our journey to net zero. The majority of the emissions come out of industries so any climate action will have to reduce or offset the emissions from these activities.
“Private sector players are already realizing this reality and playing a crucial role in the climate fight. Over the past year, a growing number of companies have declared net-zero ambitions. Climate action will not just transform industries, but it will also likely reshape the way investment choices are made. Yadav spoke at an event to celebrate 27 years of private equity.
The minister stated that India’s announcement of net Zero at COP 26 in Glasgow, UK was a significant step considering that India is not the cause of climate change and has never been a contributor to greenhouse gas emissions in the past.
“We are committed and committed to the sustainability agenda, but we also believe that developed countries must take the initiative to achieve net zero globally as per the provisions in the Paris Agreement.
He said, “We have used COP26 as well as other multilateral platforms, to urge developed countries with high per capita emissions and historical responsibilities to take more aggressive steps towards net zero.”
At the COP 26, held last year, Prime Minister NarendraModi had strengthened India’s climate commitments through five elixirs. These included India becoming net-zero by 2070.
Alok Sharma, UK COP 26, later stated that while the summit was important in keeping the ambition to limit global temperatures rise to 1.5 degrees Celsius, it was a fragile win and that he urged for swift global action.
Official sources confirmed that Sharma will visit India between February 10-13, 2022 in order to help the Glasgow pact from the 26th climate summit, which was held in November 2017.
Sources say that the British High Commission informed Ministry of External Affairs about Sharma’s arrival and asked for its assistance in arranging a meeting with Prime Minister Narendra Modi and Environment Minister Bhupender Yadav and External Affairs Minister S Jaishankar, among other ministers.
Sources said Sharma will be visiting New Delhi, Mumbai and other cities. They also stated that the ministry was requested to exempt the COP 26 president and his delegation from any COVID-19 quarantine requirements.
Sources said that the delegation also requested exemption from the seven-day quarantine after receiving their negative test results.
“The Commission has also requested, in the unlikely event that the COP President (or a member of their delegation) were to test positive upon arrival to India, that the affected member be allowed to self-isolate at the British High Commission compound during the required isolation period,” a source claimed.