The ET SDG Summit 2021

"ESG to SDGs: Connected Paths for Better Future”

(28th September 2021)

Remarks by Ambassador T.S. Tirumurti

Permanent Representative of India to the United Nations

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Ladies and Gentlemen,

I thank Economic Times for inviting me for the ET SDG Summit 2021. This is topical. This is timely. I am truly delighted to participate.

2. Nations across the world are accelerating the implementation of sustainable solutions to the world’s biggest challenges - ranging from poverty, hunger, gender inequality to climate change. It requires both a short-term and a long-term perspective, with governments, private sector, and civil society - all working together. I commend Economic Times for their initiative of getting the private sector, civil society and government together for this summit.

Ladies and Gentlemen,

3. COVID-19 has undoubtedly disrupted decades of developmental progress on many fronts, pushing millions into poverty. It has resulted in the most damaging humanitarian and economic crisis since the Second World War, especially for the more vulnerable countries. The pandemic has effectively squeezed the funds available to achieve Agenda 2030 in this Decade of Action and diverted them for more pressing humanitarian requirements.  However, this sudden shortfall is not being made up by any other source, whether public or private. The challenge is therefore, how not to lose the momentum towards Agenda 2030 that seeks to attain SDGs. We need to ensure continued funding from multiple sources, and bring in digital innovations & ESG to incentivise multiple stakeholders towards the same goal.

4. When the discussions on Sustainable Development Goals took place and the SDGs were finalised, an important principle which was kept in mind was to preserve the balance between 3 pillars - environment, social and economic pillars. Consequently, when we discuss SDGs in the context of a pathway to achieve them, we need to be conscious of maintaining this balance and not to tilt excessively to the environment or to the economic side.  Therefore, when the world is reeling under the pandemic, we need to recover better by focusing on all the three pillars and not just on one in exclusion to the others.  Otherwise, it would be self-defeating.

5. Further, when we are looking at a “whole-of-society” approach, which will include multiple stakeholders and innovative financing for achieving SDGs, we need a lucid and robust national SDG framework which will make it easier for the state, the civil society and private players, including the corporate world, to invest and contribute in this collective effort.  In other words, we need to have a bankable SDG approach which will make it attractive for private sector to invest in. This will involve a mechanism to be put in for de-risking; so that capital can be mobilized, since the capital market will have to play a key role. While public finance will no doubt continue to be an important vehicle for SDGs, innovative financing will have an important role to ensure that the Decade of Action is truly where the action is.

6. We have seen recent efforts at mobilising financing through multiple sources which we loosely refer to as innovative financing.  However, we have to guard against “innovative accounting” as opposed to “innovative financing”. We have seen how the goal of mobilising US$ 100 billion for climate change is far from being realised even while the figures reached so far is itself being contested.  

7. India has been driving an array of SDG initiatives, such as National Health Insurance Scheme, National Nutrition Mission and Clean India Mission. Programmes are aimed at universal access to housing, sanitation, quality education, health protection and clean energy, which will improve quality of life especially of the most vulnerable. To give a few examples, since the advent of the 2030 Agenda, we have expanded access to clean cooking fuel to over 85 million households in need; built over 110 million toilets in rural areas to improve sanitation; and added over 420 million bank accounts for the unbanked, the majority of them women. Our food security programmes are successfully addressing issues of malnourishment among children and women. To cope with the impact of COVID-19 pandemic, we have announced food security scheme providing food rations for 800 million people and cash transfers to 400 million; and other such measures directly aimed at alleviating the misery of the people. We have also taken ambitious commitments under the Paris Agreement for climate action. In other words, India is Walking the Talk on SDGs.

8. India has also set an example on how to localise the SDGs.  For the successful implementation of 2030 Agenda, especially in a country like India with a population of 1.3 billion, a holistic, coherent and integrated approach at the sub-national, national and regional levels is imperative.  Niti Aayog is coordinating this aspect and developing SDG vision document at sub-national and local level. The development of the State Integrated Framework and the District Integrated Framework with multiple stakeholders participation, including civil society, has helped dissolve a silo-based functioning and fine tune the monitoring and data system.

9. To enhance data collection at national and local level, we have developed “SDG India Index & Dashboard” using a globally accepted methodology after extensive consultations with civil society. The 2021 edition of the Index covers all 17 Goals, 70 targets, and 115 indicators.

10. Another example of successful implementation of localisation of SDGs has been the Aspirational Districts Programme, which focuses on 112 of India’s most developmentally challenged districts, across five sectors such as health, education, agriculture, infrastructure and skill development.  UNDP’s appraisal report had pointed out to this programme of India as a very successful model of “local area development’ to ensure that localisation of SDGs becomes a reality.

11. Despite the pandemic, we have seen remarkable progress in some crucial goals, for example in Goal 3 (Good Health and Well-Being), Goal 6 (Clean Water and Sanitation), Goal 7 (Affordable and Clean Energy), Goal 11 (Sustainable Cities and Communities) and Goal 12 (Responsible Consumption and Production).

12. Consequently, I can say that we are doing everything possible to make a lucid national SDG framework for Corporate India to invest in and contribute to this national effort.

Ladies and Gentlemen,

13. Coming to climate change, as we start our work for CoP26, we should aim to build upon the success of Paris Agreement which represents delicately balanced efforts of all countries to take action on climate change in a nationally determined manner, on the basis of principles of common but differentiated responsibilities, while recognizing peaking will take longer for developing countries.

14. It is worth emphasizing that the global action on climate change is contingent on the delivery of finance, especially for adaptation, and transfer of technology. As mentioned earlier, the commitment of the goal of US$ 100 billion per year by 2020 committed by developed countries has not yet been met.  Transfer of green technologies and know-how is key to enhancing adaptation and mitigation measures. However, the challenges lie in access to viable cutting-edge technologies at affordable costs.

15. Despite the development needs, India has shown strong commitment to climate action. We are on track to meet our Paris commitment targets and according to Climate Action Tracker, are the only G20 country with Paris compatible targets. Energy is at the centre of India’s ambition and agenda and we are dedicated to producing a cleaner energy mix. Under the Nationally Determined Contribution (NDC), India has committed to achieve 40% of cumulative installed electric power capacity from non-fossil fuel sources by 2030 and to reduce its GHG emissions.

16. India has taken concrete action in many areas. Key climate action initiatives include:  popularisation of LED lights that saves 38 million tons of Carbon Dioxide emissions per year; efforts to eliminate single-use plastics; restoration of 26 million hectares of degraded land by 2030 that will function as carbon sinks. India ranks 4^th in terms of installed renewable energy, installed wind power capacity and 5^th in solar- an increase of 13 times in the last six years. The government is supporting adaptation actions of our states through the National Adaptation Fund for Climate Change.

17. India is tapping into low carbon sunrise sectors, new technology frontiers such as green hydrogen, new business models such as digitalised services & EV charging; new construction materials like low-carbon cement and recycled plastic; and promoting circular economy and new practices for sustainable agriculture and food systems. We would like to visualize ourselves as an inspiration for Clean Energy Transition across the world. We are indeed making it easier for private sector in India to play a pivotal role in this journey.

18. In November, 2020, we released a “Declaration of India’s Private Sector on Climate Change”. It was voluntarily and a historic step. India's biggest private sector companies pledged to work with the government to tackle climate change and build sustainable economies.

19. We saw robust participation from the private sector, especially the cement sector, at this year’s High-Level Dialogue on Energy organized by the UN. Ultratech Cement, JK Cement AND NTPC committed themselves to increase the share of green energy. Along with them, a host of private companies have submitted their voluntary commitments or Compacts as part of the High Level Dialogue held by UN Secretary-General last week. Our Minister for New and Renewable Energy represented India at this prestigious event, where India was chosen as one of the Global Champions for Energy Transition.

20. We are also working consistently with the international community including through our own Initiatives like International Solar Alliance (ISA) and Coalition for Disaster Resilient Infrastructure (CDRI). The International Solar Alliance is growing by the day and India has also pledged US$ 1.6 billion as soft loan for solar projects abroad. CDRI, launched in 2019 brings together technical expertise from a multitude of stakeholders to assist countries to upgrade their capacities and practices, with regard to disaster resilient infrastructure development. CDRI now has 25 countries and 7 international organizations as its members.

21. In 2019, India along with Sweden, launched The Leadership Group for Industry Transition and it continues to bring in countries (16) and private companies (18) that are committed to achieve the Paris Agreement. India is also a member of the Electric Vehicles Initiative.

22. Earlier this month, India and United States launched a new bilateral climate action and finance mobilization dialogue – or the CAFMD. It aims to mobilize major capital flows to help India achieve its target of 450 GW of renewable energy capacity, demonstrate and scale innovative clean energy technologies, and promote bilateral clean energy investment and trade in the clean transition. Such collaboration would help reduce these market risks and catalyze investment. Quad countries have taken purposeful strides in climate action.

23. South-South cooperation is making a vital contribution to the implementation of the 2030 Agenda and has provided innovative sustainable solutions to the problems faced by developing countries in achieving SDGs. In 2017, India established the US$ 150 million India-UN Development Partnership Fund at the UN to provide support to projects in developing countries that aim to contribute to the achievement of the SDGs, especially by assisting Small Island Developing States in the Pacific and Caribbean.

Ladies and gentlemen,

24. Prime Minister Narendra Modi addressed the High-Level segment of the UN General Assembly just a few days ago where he gave a clarion call for sustainable development and combatting climate change and underlined once again the determination of India to take climate action. India will continue its partnership with other countries to ensure that the climate architecture can both achieve the overall climate action objective as well as be equitable to developing countries like India which still require carbon space to grow and provide for its people. That is why the commitment of net-zero by developed countries is not enough. In fact, they should do net-minus to give adequate carbon space for countries like India to grow sustainably. This will be CBDR in practice.

25. The COVID-19 pandemic provides us with a once in a lifetime opportunity to get things in order. We should use SDGs as a “spring board” to bounce back in this “decade of action”

26. I am certain that today’s dialogue will help motivate us and guide us to remain committed in our task of making a resilient recovery from the COVID-19 pandemic and achieve the 2030 Agenda.

  I thank you.

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