India could lose 24.7% of its GDP by 2070 due to climate-related disruptions, warned Union Environment Minister Bhupender Yadav at the World Sustainable Summit organized by The Energy and Resources Institute (TERI) on Wednesday.
Yadav emphasized that the Global South, led by India, is now driving the global climate agenda. He highlighted India’s efforts in reducing greenhouse gas emissions, stating, “In 2020 alone, India cut emissions by 7.93%.” Despite facing severe climate challenges, India continues to push for sustainable solutions.
He urged developed nations to fulfill their financial and technological commitments under the Paris Agreement, stressing the importance of global cooperation in strengthening climate action. He also called for reforms in global governance to ensure equity and justice in climate negotiations.
India aims to become a developed nation by 2047 and achieve net-zero emissions by 2070. Yadav noted that the country has already reduced GDP emission intensity by 36% between 2005 and 2020. However, he criticized the COP29 decision to mobilize $300 billion annually by 2035 for climate finance, calling it insufficient and unfair to developing nations.
He also pointed to the rising human-wildlife conflict, stating, “A healthy forest supports wildlife, but when animals move into cities, it disrupts ecological balance.” He stressed that true sustainability requires equal protection of all life forms.
With climate risks growing, Yadav called for stronger financial support to help vulnerable regions adapt and build resilience, warning that underfunded climate action could hinder long-term sustainability goals.