Less polluting nations should pay smaller share of climate costs: FM Sitharaman in Munich

At the Munich Security Dialogue in Munich, Nirmala Sitharaman called for differentiated climate responsibility based on the ‘polluter pays’ principle and urged technology sharing. She said India is investing in renewable energy, incentivising carbon capture, and has achieved two-thirds of its renewable targets four years ahead of schedule.Speaking at the Munich Security Dialogue, Sitharaman said the financial burden of climate action requires differentiated treatment.She noted that India has increased its climate action spending from around 3.7 per cent of GDP to nearly 5.6 per cent over the past six years, investing domestically in renewable energy and carbon capture.