Developed world failed to meet its commitment on climate finance: Goyal

Commerce and Industry Minister Piyush Goyal on Thursday regretted that the developed world has "totally failed" in its commitment to providing technology and finance to developing nations to deal with climate change issues.

He urged the International Dairy Federation (IDF) to consider initiating a global effort whereby nations that have contributed more towards the Green House Gas emissions actually put relevant technology and financing on the table to help mitigate the climate crisis in the less developed counties.

This would include many nations in Asia and Africa, many of which have the commitment but do not necessarily possess the relevant technology and resources, he said.

"We do very strongly believe that the developed world has totally failed in meeting its commitments to support the developing countries and the emerging markets or less developed countries, through their contributions of technology, through their contributions of low-cost long tenure government supported ...