India Calls For Massive Climate Finance Hike At COP30
At the COP30 climate summit in Belém, Brazil, India emphasised the need for a substantial increase in climate finance to help developing countries adapt and mitigate climate change. Environment Minister Bhupender Yadav warned that current funding is far below the required levels and that global cooperation must move beyond billions to trillions of dollars.
Key Figures And Finance Shortfall
India pointed to the 2025 Adaptation Gap Report, which estimates that developing countries will need between USD 310 billion and USD 365 billion annually by 2035, while current flows amount to around USD 26 billion. Yadav said the situation requires “nothing less than a global collective effort” to deliver on the goal of USD 1.3 trillion in climate finance adopted in the “Baku to Belém” roadmap.
Calling For Concessional And Accessible Support
India stressed that finance should be equitable, predictable and concessional, preferably in grants not loans, and with streamlined access for developing nations. The country also highlighted barriers such as high transaction costs, weak institutional capacity and lack of clarity on private finance mobilisation.
India’s Own Climate Efforts
Despite the wider call, India reiterated its domestic progress: adaptation-related spending rose more than 150 per cent between 2016-17 and 2022-23. It also pointed out that accessing international finance has improved through readiness programmes, although major new funds remain scarce.
What Lies Ahead
As COP30 negotiations enter their final phase, India’s demands are likely to influence outcome texts on finance and adaptation. The focus will be on securing mechanisms that enable faster disbursal of funds, strengthen national climate institutions and shape the next stage of global climate action.
