India expects developed nations to provide climate finance of one trillion dollars at the earliest: PM Modi at COP26

Noting that climate finance promises cannot be the same as they were in the Paris Climate Accord, Prime Minister Narendra Modi on Monday said that it is India's expectation that developed countries provide climate finance of one trillion US dollar soon.

"At a time when we all are expanding our ambition on climate action, then the world's ambition on climate finance can't be the same which was during the Paris Agreement," PM Modi said at the 26th session of the Conference of Parties on Monday.

He said promises made on climate financing have proved to be hollow and said climate finance should be tracked in the way progress on climate mitigation is tracked.

"It is needed to track the progress on climate financing as we track progress on climate mitigation," he said.

"It is India's expectation that the developed countries provide climate finance of one trillion dollars at the earliest," he said.

The Prime Minister noted that pressure must be on those countries which do not complete their promises made on climate financing. "It will be appropriate justice," he said.

He said India is now moving forward with greater ambition on the issues of climate and stressed that New Delhi understands the issues other developing nations face on climate change.

"India shares their concerns and will continue to express their expectations."

He also emphasised that climate change is a "big threat" to the existence of some developing nations.

"It is my duty to raise the voices of developing nations," the prime minister said.

He stressed that the world must take greater efforts to protect environment. "This is the demand of time and will prove the relevance of this forum," PM Modi added.

"I believe that decisions taken at this forum will secure the future of our coming generations," he said.

( With inputs from ANI )

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