Developed world failed to meet its commitment on climate finance: Goyal

Commerce and Industry Minister Piyush Goyal on Thursday regretted that the developed world has "totally failed" in its commitment to providing technology and finance to developing nations to deal with climate change issues.

He urged the International Dairy Federation (IDF) to consider initiating a global effort whereby nations that have contributed more towards the Green House Gas emissions actually put relevant technology and financing on the table to help mitigate the climate crisis in the less developed counties.

This would include many nations in Asia and Africa, many of which have the commitment but do not necessarily possess the relevant technology and resources, he said.

"We do very strongly believe that the developed world has totally failed in meeting its commitments to support the developing countries and the emerging markets or less developed countries, through their contributions of technology, through their contributions of low-cost long tenure government supported climate finance," Goyal said.

He added that India wants to be a part of the solution and not the problem.

Further, he said that India would very much like to become a part of the global efforts to bring down the impact of farming on global emissions.

Drawing a picture of contrast between India where a large number of farmers with small land holdings are engaged in dairying and developed nations where relatively fewer numbers of farmers are engaged in production, the minister called upon stakeholders of the dairy industry to find contemporary, relevant solutions to aid small farmers.

Goyal cited as an example the extensive use of cow dung as manure, which considerably reduces the need for chemical fertilizers and pesticides and for the production of fuels such as biogas.

This, Goyal said, was also an important contribution toward efforts to reduce the carbon footprint of farming.

India supports nearly 17 per cent of the world's population and yet contributes less than 3 per cent to the harmful global Green House Gas emissions.