At the time when the country face a economic crisis , the India govt. will not ready to make sign on any legally binding global agreement for emissions reduction , Environment Minister Jayanthi Natarajan clearly stated in Rajya sabha today.
While, the decision to set-up $100 billion corpus on the Green Climate Fund has taken in the Conference, which would start operations soon with an interim secretariat and a Board.
Defining the economic condition, Jayanthi Natarajan said, “India will not sign any legally binding global agreement for emissions reduction, as the country needs to eradicate poverty through economic growth.”
“There is no question of signing a legally binding agreement at this point of our development. We need to make sure that our development does not suffer,” she added.
However it is ensure that the Green Climate Fund will help a large number of vulnerable countries in taking effective mitigation and adaptation actions.
If India will sign legally binding to cut emissions, the country’s economic growth scale suffers a lot. And at this time any mistake may result a big hurdle for the govt.
Meanwhile the govt. ensure that it will bring the emissions to grow as it has to ensure proper balance hold on social and economic development and giving full support for eradicating poverty through economic growth.