India’s G20 Summit: President Jokowi Addresses Measures to Tackle Increasing Global Temperatures
President Joko “Jokowi” Widodo Saturday (09/09) arrived at the Bharat Mandapam, IECC, Pragati Maidan, New Delhi, India to attend the G20 Summit.
During the first session of the summit adopting the theme “One Earth”, President Jokowi addressed several crucial measures to combat the increasing global temperatures.
“Our planet is ailing. In July, global temperatures reached their highest levels, and predictions indicate a continued rise in the next five years. This will pose a formidable challenge unless the world collectively and drastically addresses it,” the President said.
According to the President, the acceleration of the transition to a low-carbon economy plays a pivotal role in the efforts as the actual implementation of emission reduction remains quite limited.
“Funding commitments from developed countries remain as mere rhetoric and existing only on paper, whether it is climate funding of US$100 billion per year or the funding facilities for addressing loss and damage,” he explained.
The President also pointed out that currently developing countries require assistance in terms of technology and green investment to speed up the reduction of global emissions.
“As developing countries, we really want to accelerate the reduction of emissions. However, we need support for technology transfer and green investment,” he said.
On that occasion, the President also said that funding to accelerate emissions reduction was considered vital, adding that continued collaboration between the government and the private sector is deemed instrumental in driving substantial emissions reduction.
“Last year in Bali, Indonesia initiated the G20 Bali Global Blended Finance Alliance. The Just Energy Transition Partnership (JETP) scheme must be expanded and enlarged,” he stressed.
To that end, the Head of State conveyed global standards in terms of grouping economic and business activities required to prevent greenwashing practices.
“Global standards are essential, such as a taxonomy to prevent greenwashing practices, while the reform of the Multilateral Development Bank (MDB) should mirror the representation of its member countries,” the President remarked. (BPMI of Presidential Secretariat/AIT) (RIF/LW)