Climate finance should not be seen as a means of investment, Yadav warns

Shri Yadav highlighted the significance of an expanded BRICS in setting the agenda, priorities, and strategies for addressing environmental challenges.

The 10th Meeting of BRICS Environment Ministers took place in a hybrid format under the Chairship of the Russian Federation on June 28, 2024. Union Minister of Environment, Forest, and Climate Change, Shri Bhupender Yadav, participated virtually. This meeting marked the first gathering of BRICS Environment Ministers after the inclusion of five new members: Egypt, Ethiopia, Iran, the United Arab Emirates, and Saudi Arabia.

Shri Yadav highlighted the significance of an expanded BRICS in setting the agenda, priorities, and strategies for addressing environmental challenges. He underscored that initiatives under BRICS should align with the principles and goals of the UN system and its agencies, ensuring that developing countries can utilize available carbon space.

Emphasizing sustainable lifestyles, Shri Yadav urged BRICS nations to implement the Resolution on Sustainable Lifestyles adopted at the sixth United Nations Environment Assembly. He stressed the necessity for a level playing field for developing countries and called on developed nations to fulfill their financial commitments made at UNFCCC COP and CBD COP. He cautioned against viewing climate finance merely as a means of investment.

The Union Minister highlighted India's concrete actions at both national and international levels to address environmental challenges. He urged BRICS nations to support the "Ek Ped Maa Ke Naam" campaign, launched by India's Prime Minister on World Environment Day 2024, and other global initiatives led by India, including Mission LiFE, IBCA, CDRI, LeadIT, Green Credit Initiative, RE & CE-IC, and GIR-GIP.

Shri Yadav also emphasized the need for strengthened collaboration among BRICS nations and continued cooperation in multilateral forums to uphold the principles of equity and Common But Differentiated Responsibilities and Respective Capabilities (CBDR-RC).

The meeting concluded with the adoption of the Statement of the 10th BRICS Environment Ministers Meeting, June 28, 2024, in Nizhny Novgorod, Russia.