New Delhi
Finance Minister Nirmala Sitharaman on Thursday underlined the need for blended finance and leveraging private capital to achieve sustainable development goals (SDGs).
She was speaking at the Sustainable Finance for Climate Transition roundtable in Bali, Indonesia, which is hosting the third G20 Finance Ministers and Central Bank Governors (FMCBG).
The Union Finance Minister highlighted the role of MDBs, use of BlendedFinance and leveraging PrivateCapital for scaling up SustainableFinance and reaching SDGs, the finance ministry said in a series of tweets.
The finance minister also shared India’s two-pronged energy transition plan promoting renewables in the energy mix and adopting innovative policy measures for increasing energy efficiency and security.
FM Smt.nsitharaman emphasised the Panchamrit strategy to tackle ClimateChange, as envisaged by Prime Minister Shri narendramodi, another tweet said.
At the COP26 conference in Glasgow, Scotland, last year, Prime Minister Modi took the pledge of Panchamrit or five-nectar elements in India’s fight against climate change.
The Panchamrit commitment seeks to raise India’s non-fossil fuel-based energy capacity to 500 GW by 2030, ensure that 50 per cent of the country’s energy requirements would be met by renewable energy sources by the same year, reduce the total projected carbon emission by one billion tonnes, decrease the carbon intensity of the economy to less than 45 per cent and finally, achieve net zero emissions by 2070.
The SDGs adopted by member countries of the United Nations in 2015 are intended at fostering peace and prosperity for people and the planet.
