Finance Minister Nirmala Sitharaman calls for tangible action on climate funding and technology transfer ahead of COP28

Finance Minister Nirmala Sitharaman called for tangible action on climate funding and technology transfer ahead of COP28.

She was speaking during a virtual session at the inaugural India Global Forum Middle East and Africa 2023 on yesterday. The event, themed ‘Unleashing Ambitions,’ brought together business leaders, policymakers and celebrities to explore collaboration opportunities between India, the Middle East, and Africa.

Ms Sitharaman expressed her concerns at the lack of progress in climate finance and technology transfer, saying a lot of talk, but no money coming on the table; no pathways to show how technology is going to be transferred.

Emphasizing the urgency for action, she added, COP 28 should show the direction, both for the transfer of technology and for the actual funding.