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LATEST NEWS UPDATES | COP15: India seeks global finance, counters move to reduce subsidies on fertilisers, pesticides

COP15: India seeks global finance, counters move to reduce subsidies on fertilisers, pesticides

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published Published on Dec 17, 2022   modified Modified on Dec 20, 2022

-Deccan Herald

One of the proposals under debate at Montreal is a call for slashing harmful subsidies by at least $500 billion annually from the estimated $ 1.8 trillion

India has sought more public finance to protect its biodiversity and strongly opposed proposals to reduce subsidies on fertilisers and pesticides for the sake of biodiversity, asserting that the livelihood of hundreds of millions of farmers in the developing world depend on farming. 

“Our agriculture … is the source of life, livelihoods and culture for hundreds of millions. Such essential support to vulnerable sections cannot be called subsidies and targeted for elimination,” Union Environment Minister Bhupender Yadav said at the 15th Conference of Parties (COP15) to the Convention on Biological Diversity in Montreal on Friday.  

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Deccan Herald, 17 December, 2022, https://www.deccanherald.com/national/cop15-india-seeks-global-finance-counters-move-to-reduce-subsidies-on-fertilisers-pesticides-1172685.html


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