RBI’s Governor Shaktikanta Das has emphasized on the cooperation among South-Asian countries to build green economies in the region to effectively deal with rising challenges posed by climate change

Reserve Bank of India’s Governor Shaktikanta Das has emphasized on the cooperation among South-Asian countries to build green economies in the region to effectively deal with rising challenges posed by climate change.
Addressing the IMF Conference in New Delhi, Mr. Das said, the South-Asian region is vulnerable for climate change due to its large population and degradation of natural resources. He said, cooperation is required among south-asian countries to move in the direction of green transition at a faster pace with reasonable cost. He also stressed on strengthening cooperation in the energy security sector as south-asian countries have a high reliance on fossil fuel.
Listing out the various challenges faced by the region, Mr. Das said, these challenges have been accentuated by Covid pandemic, spillovers of Russia-Ukraine conflict, inflation and financial market tightening across the globe. He highlighted various measures to deal with these challenges saying that efforts need to be made to tame inflation, external debt vulnerabilities and raising productivity.