India's Strategic Focus on Climate Resilience Amid Declining Global Support

India's economic growth faces climate vulnerability, necessitating increased climate resilience as global financial support declines. The pre-Budget report highlights funding shortfalls, adaptation costs, and renewable energy challenges. The report urges investments in climate technologies and education to align with climate commitments and achieve net-zero emissions by 2070.

As global financial commitments to combat climate change wane, India must strengthen its focus on building climate resilience to safeguard its economic expansion, a pre-Budget report presented to Parliament suggested on Friday.

The report gains relevance as India, identified as the seventh most vulnerable nation to climate change, gears up for COP30 in 2025, where new climate targets will emerge under the Paris Agreement.

The document highlighted the dire need for funding as India's adaptation-related expenses surged to 5.6 percent of GDP in FY22, a stark increase from FY16's 3.7 percent, reflecting the escalating challenge of meeting climate goals.

(With inputs from agencies.)