COP30 Climate Summit: India Demands Equitable Finance as Global Cornerstone

India has made its position clear at the COP30 climate summit in Brazil. The country emphasized that equitable and predictable climate finance remains essential for global climate goals. India highlighted its impressive climate achievements, including reducing emission intensity and expanding renewable capacity. The nation called for developed countries to accelerate emission reductions and deliver promised financial support.

Key Points: India Stresses Equitable Climate Finance at COP30 Summit

  • India reduced emission intensity by 36% between 2005 and 2020
  • Non-fossil power now exceeds 50% of India's installed capacity
  • Country created additional carbon sink of 2.29 billion tonnes CO2 equivalent
  • India joined Tropical Forests Forever Facility as Observer nation
4 min read

COP30: India stresses equitable, predictable, concessional climate finance as cornerstone

India reaffirms commitment to climate action based on equity and CBDR-RC principles, demanding predictable finance from developed nations at COP30 in Brazil.

"India demonstrated readiness to collaborate with other nations to implement solutions and transition to sustainability - Ministry of Environment, Forest and Climate Change"

Belem, November 8

India's consistent commitment to climate action based on equity, national circumstances and the principles of Common but Differentiated Responsibilities and Respective Capabilities (CBDR-RC) is intact, Ambassador of India to Brazil Dinesh Bhatia said as he delivered India's National Statement at the Leaders' Summit of the CoP30.

India has reaffirmed its commitment to equitable climate action at the Leaders' Summit held on Friday. India asserted that equitable, predictable, and concessional climate finance remains the cornerstone for achieving global climate goals.

The 30th Conference of the Parties (CoP30) to the UN Framework Convention on Climate Change (UNFCCC) will take place in Belem, Brazil, from November 10 to 21.

India thanked Brazil for hosting CoP30 on the 10th anniversary of the Paris Agreement and recalled the 33-year legacy of the Rio Summit.

India's statement, delivered on Friday, noted that this is an opportunity to reflect on the global response to the challenge of climate change.

"It is also an opportunity to celebrate the legacy of the Rio Summit, where the principles of equity and CBDR-RC were adopted, laying the foundation for the international climate regime, including the Paris Agreement," India's Ministry of Environment, Forest and Climate Change said in their statement.

India welcomed Brazil's initiative to establish the Tropical Forests Forever Facility (TFFF), recognising it as a significant step towards collective and sustained global action for the preservation of tropical forests, and joined the Facility as an Observer.

Highlighting India's low-carbon development path under the leadership of Prime Minister Narendra Modi, the statement emphasised that between 2005 and 2020, India reduced the emission intensity of its GDP by 36 per cent, and this trend is expected to continue.

Non-fossil power now accounts for over 50 per cent of India's installed capacity, enabling the country to reach the revised NDC target five years ahead of schedule, it noted.

The statement further underscored India's expansion of forest and tree cover, as well as the additional carbon sink of 2.29 billion tonnes of carbon dioxide equivalent created between 2005 and 2021. Additionally, it highlighted India's emergence as the world's third-largest producer of renewable energy, with nearly 200 GW of installed renewable capacity.

Further, global initiatives like the International Solar Alliance now unite over 120 countries and promote affordable solar energy and South-South collaboration, it added.

India emphasised that after 10 years of the Paris Agreement, NDCs of many Nations fall short, and while developing countries are taking decisive climate action, global ambition remains inadequate.

The statement highlighted that, given the rapid depletion of the remaining carbon budget, developed countries must accelerate emission reductions and deliver the promised, adequate and predictable support.

It was emphasised that access to affordable finance, technology, and capacity-building is essential for implementing ambitious climate targets in developing countries.

"India demonstrated readiness to collaborate with other nations to implement solutions and transition to sustainability in ways that are ambitious, inclusive, fair and equitable, based on the principles of CBDR-RC and national circumstances," the ministry said.

Reaffirming its commitment to multilateralism and towards preserving and safeguarding the architecture of the Paris Agreement, India called on all nations to ensure that the next decade of climate action is defined not only by targets but by implementation, resilience, and shared responsibility based on mutual trust and fairness.

The COP meets every year, unless the Parties decide otherwise. The first COP meeting was held in Berlin, Germany, in March 1995. The COP meets in Bonn, the seat of the secretariat, unless a party offers to host the session.

At COP26 held in 2021, India committed to an ambitious five-part "Panchamrit" pledge. They included reaching 500 GW of non-fossil electricity capacity, generating half of all energy requirements from renewables, and reducing emissions by 1 billion tonnes by 2030.

India also aims to reduce the emissions intensity of GDP by 45 per cent and is committed to net-zero emissions by 2070.

India's ambitious renewable energy initiatives are on track, and the country is currently leading the pack in South and Southeast Asia. According to a report by S&P Global Ratings released in October, India has made significant progress in renewable capacity additions, outpacing coal.

- ANI

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Reader Comments

R
Rohit P
Impressive progress by India! Reducing emission intensity by 36% and achieving 50% non-fossil power capacity is no small feat. We're walking the talk while developed countries just make promises.
A
Anjali F
While I appreciate India's stance, I wish we could be more ambitious with our net-zero timeline. 2070 feels too distant given the climate emergency we're facing. We need faster action domestically too.
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Sarah B
The International Solar Alliance is such a brilliant initiative! Over 120 countries working together on solar energy - this is the kind of leadership the world needs. India is showing how developing nations can lead.
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Vikram M
CBDR-RC principle is crucial for fairness. Why should India and other developing nations bear the same burden as countries that polluted for centuries? Equity must be at the center of climate action.
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Karthik V
Good to see India joining the Tropical Forests Forever Facility as observer. Our forest cover has been increasing steadily - 2.29 billion tonnes carbon sink created is remarkable! 🌳
M
Michael C
The Panchamrit pledge shows India's comprehensive approach to climate action. Reaching targets 5 years ahead of schedule proves developing countries can lead the transition to clean energy.

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