India Urges Developed Nations to Fulfill Climate Finance Promises

At COP30 in Brazil, India, representing Like-Minded Developing Countries, criticized developed nations for not honoring climate finance commitments. India stressed the necessity of reliable financial support for achieving climate goals, especially under Articles 9.1 and 9.3 of the Paris Agreement.

India has sharply criticized developed nations for not meeting their climate finance commitments, a pivotal factor affecting global climate goals. This statement came during the third high-level ministerial dialogue on climate finance at COP30 in Belem, Brazil.

Speaking as a representative of Like-Minded Developing Countries (LMDCs), India's negotiator Suman Chandra emphasized the critical need for predictable, transparent financial assistance from developed countries to enable developing nations to meet their Nationally Determined Contributions (NDCs). India's remarks highlighted the legal obligations set out by the Paris Agreement that developed nations have yet to fulfill.

India specifically pointed out inadequacies in the New Collective Quantified Goal (NCQG), revealed at COP29, and called for substantial, consistent financial support from wealthier nations. The nation demanded the inclusion of Article 9.1 in formal negotiations to ensure financial flows that are both predictable and additional, crucial for sustainable investments in developing economies.

(With inputs from agencies.)