Embrace climate action as an opportunity for innovation, growth: Goyal

New Delhi: Union minister Piyush Goyal urged for a collective global approach to transform climate challenges into opportunities for innovation and growth during the Asia-Pacific Economic Cooperation (APEC) Informal Leader’s Dialogue, according to an official statement on Friday.

Goyal, addressing global leaders on Thursday, had pointed out India’s success in achieving its ambitious renewable energy goal of 175 gigawatts well ahead of its deadline, marking the country’s commitment to environmental stewardship.

“The minister called upon the world leaders to join hands as a global community to construct a future where sustainability is not a distant aspiration but a way of life and where climate action is not a burden but an opportunity for innovation and growth,” as per the commerce ministry’s statement.

In addition to his participation at APEC, Goyal was present at the Indo-Pacific Economic Framework (IPEF) Leader’s Meeting, attended by US President Joe Biden among other global leaders. The event saw the launch of various IPEF initiatives aimed at enhancing economic cooperation and investment in the region.

Goyal also participated in the Investor Forum of the Partnership for Global Infrastructure and Investment (PGII) that was co-hosted by US trade secretary Gina Raimondo and senior advisor to the president Amos Hochstein.

The deliberation centred on collaborative actions and shared priorities to increase private investment in the Indo-Pacific, according to the statement. Raimondo highlighted the continuing partnership between India and the US through the Green Transition Fund, the ministry said.

Earlier this week, the 14 IPEF partners ratified a supply chain agreement to bolster investment in clean economies. This pact is part of a concerted effort to fund climate-forward infrastructure and technology, with additional agreements under the IPEF aimed at fostering a clean and fair economic landscape in the Indo-Pacific region.

A clean economy agreement under Pillar III, fair economy agreement under Pillar IV and agreement on the Indo-Pacific Economic Framework for Prosperity were also signed during the meeting, the ministry said.

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Updated: 17 Nov 2023, 07:53 PM IST

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