Watch Piyush Goyal's 'roast' of EU on climate change
Union Commerce Minister Piyush Goyal ignited a discussion on climate finance and European responsibility during a roundtable at the Berlin Global Dialogue. Goyal questioned why financial commitments to developing nations had not materialised into the aid promised, focusing on historical greenhouse gas emissions from early industrialisers versus the emissions burden faced by developing economies.
He reminded developed nations of the $100 billion annual climate finance pledge, recalling India's concerns raised at the 2015 Paris climate conference, where Modi advocated for the Global South's perspectives. Goyal highlighted the gap between commitments and actions, asking why developing countries have received no financial support in the past eleven years.
He contrasted India's 17% share of global population with its less than 3% contribution to carbon emissions, contrasting this with Europe's historical emissions. Goyal emphasized that developed nations, having benefited from centuries of industrialisation, should assist poorer countries in transitioning to cleaner energy. His remarks also touched on India's domestic challenges in meeting climate goals while advancing its economy.
The minister also criticized the EU's Carbon Border Adjustment Mechanism (CBAM), which aims to address carbon emissions from imported goods but has raised concerns about costs for exporters, particularly developing economies.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
