India Ramps Up Domestic Funding for Climate Resilience Amid Global Shortfall

India has received USD 1.16 billion for climate projects through UN frameworks but largely relies on domestic resources. Union budgets have scaled up climate action efforts. Despite international pledges, developed nations have not met funding promises, prompting India to focus on domestic strategies for adaptation and resilience.

India has received USD 1.16 billion for climate initiatives from the United Nations Framework Convention on Climate Change financial mechanisms. This funding includes substantial contributions from the Green Climate Fund and the Global Environment Facility. However, the country primarily relies on domestic resources for financing its climate projects, as announced in a parliamentary session by Union Environment Minister Bhupender Yadav.

Minister Yadav emphasized India's mission-mode approach toward adapting and building resilience against climate change impacts. Among the measures in place are policies targeting various economic sectors to facilitate widespread adaptation activities. Crucially, India's National Action Plan on Climate Change integrates these climate initiatives across numerous programs and schemes.

Yadav pointed to the successive Union Budgets, which have bolstered efforts towards resource mobilization for climate action. Despite international commitments, developed countries have failed to meet funding pledges, an issue India's Economic Survey highlights as a potential trigger for re-evaluating climate targets. India's strategy thus hinges on domestic resources, as made clear in the country's climate plans for 2031-2035.

(With inputs from agencies.)