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India is the first country with a cooling action plan: environment minister

New Delhi: India is the first country with a cooling action plan based on energy efficiency and thermal comfort, said Union Minister for Environment, Forest and Climate Change, Bhupendra Yadav on Wednesday.

Speaking at the Ministerial Roundtable for Green Economy at the World Green Economy Summit in Dubai, the minister said India has launched important initiatives and schemes such as Ujala Yojana for industrial efficiency.

“Global initiatives like International Solar Alliance and other initiatives for strengthening the green economy across key sectors like energy, industry, transportation, agriculture and forestry have been adopted. India has taken several measures on sustainable finance such as sovereign green bonds, blended finance as well as setting up the GIFT city and the ISA-Solar Risk Mitigation Initiative,” he added.

Yadav said that the Glasgow Financial Alliance estimates a requirement of $100 trillion of finance for global net zero emissions by 2050. “The developed countries have failed in mobilising the amount of $100 billion by 2020. India’s NDCs are thus largely financed by domestic investment.”

He said that accelerating low carbon transition across different economic sectors is the need of the hour.

After the Roundtable, the minister also had a bilateral meeting with ­Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade. They discussed issues relating to COP 27, COP 28, MoU on climate actions between India and UAE, and global initiatives spearheaded by UAE and India for combating climate change during the meeting.

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