FM Sitharaman in US Urges G20 Climate-Finance Balance for Developing Nations

Finance Minister Nirmala Sitharaman called for a balanced approach to align climate action with developmental priorities during her address at the G20 Joint Meeting of Finance, Climate, Environment, and Foreign Affairs Ministers in Washington, D.C. She emphasised that access to finance and technology must be available at reasonable costs for developing countries. Sitharaman also reiterated India’s commitment to climate goals while urging global collaboration to support growth in emerging economies. She commended Brazil’s G20 leadership and urged comprehensive reforms in the World Bank to support jobs and skill development to address global employment shifts.

Sitharaman’s week-long U.S. visit from October 20 to 26 includes participation in key meetings with the IMF and World Bank, as well as discussions on international cooperation in climate and economic development initiatives. Her discussions have included the importance of job creation in light of technological advances and urged the World Bank to explore alternative strategies to generate sustainable employment globally. She also highlighted the need for a detailed analysis of sectoral and geopolitical shifts impacting jobs in critical sectors such as agriculture and manufacturing, particularly as supply chain dynamics evolve.

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The minister’s remarks underline India’s stance on prioritising economic growth and climate action, especially as discussions continue on financial structures to aid in climate resilience and skill alignment in developing economies.