India's G-20 Sherpa Piyush Goyal on Sunday said that developed countries have acknowledged their shortcomings in meeting their commitments on climate goals.
"For the first time, they (developed countries) have acknowledged their shortcomings and they also accepted what they must do for the needs of developing countries like India and others, which they had promised earlier," Goyal said here.
G-20member states adopted the 'Rome Declaration' following the conclusion of two days of the G-20 Summit in Rome and the developed nations have acknowledged that they have not done enough in terms of meeting their commitments, the minister said.
He also emphasised that the G-20 summit highlighted the global concerns on climate change and rising pollution.
Underlining that the Rome Declaration highlights the concerns of developing nations, Goyal said it also gives assurances to meet the demand of the developing countries.
"We also committed to scale up adaptation finance, with a view to achieving a balance with the provision of finance for mitigation to address the needs of developing countries including by facilitating mechsms, conditions and procedures to access available funds, taking national strategies, priorities and needs into account," the declaration stated.
"We recall and reaffirm the commitment made by developed countries, to the goal of mobilizing jointly USD 100 billion per year by 2020 and annually through 2025 to address the needs of developing countries, in the context of mengful mitigation actions and transparency on implementation and stress the importance of meeting that goal fully as soon as possible," according to the declaration.
( With inputs from ANI )
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor