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Union Minister of Environment, Forest and Climate Change, Shri Bhupender Yadav delivering a keynote address on the occasion of the World Elephant Day 2021 in New Delhi | PIB NEW DELHI: Union

Environment Minister Bhupender Yadav on Wednesday said India is showing intent as a problem solver despite not being a traditional contributor to global emissions. Addressing the opening

ceremony of the G20 environmental and climate ministerial meeting in Bali, Indonesia, he also said the current pace and scale of climate finance from developed countries is not matching the

global aspiration to combat climate change. "While India has not been a traditional contributor to global emissions, we are showing the intent in our actions to be a problem

solver," he said. Yadav said the maximum impact of the climate crisis is being borne by the poorest countries and most vulnerable communities, which have contributed the least to the

climate crisis and lack the technology and capacity and finance required to significantly alter the status quo. "However, the promise of climate finance remains a mirage. An added

problem is the clubbing of development finance with climate finance," he said. "In 2019, 70 percent of public climate finance was given out as loans instead of grants. In 2019-20,

only six per cent of climate finance was in grants. This is pushing developing countries into more debt," the minister said. "There is an urgent need to mobilise resources to

stimulate the economy in a manner that makes it more resilient and sustainable. But the current pace and scale of climate finance from developed countries is not matching the global

aspiration to combat climate change," Yadav said.