Climate Finance

US exit from COP 30 puts onus on EU, China, India to drive climate action

India, being a distant third emitter, has been progressing well in meeting its climate commitments. It is ranked 10th in the Climate Change Performance Index in 2025 (against China's 55th rank)

World collectively needs to scale up climate finance: India at COP30

India is committed to domestic adaptation as part of climate action but there is an urgent need for a scaled-up adaptation finance as the global gap widens, Environment Minister Bhupender Yadav said here. Yadav also said that the annual climate summit, COP30, must deliver a clear political message that adaptation is not an optional add-on but an essential investment. The 2025 Adaptation Gap Report estimates that developing countries will need between USD 310-365 billion annually by 2035, while current flows are around USD 26 billion only, he said during his intervention at the Baku High-Level Dialogue on Adaptation on Thursday at the ongoing UN COP30 summit. Yadav expressed concern that the Glasgow Climate Pact goal of doubling public adaptation finance from 2019 levels to around USD 40 billion by 2025 is likely to be missed if the current trend continues. It will take nothing less than a global collective effort to increase climate finance to the levels articulated in the Baku to

Climate finance failure by developed nations hurts NDCs: India at COP30

India on Saturday sharply criticised developed countries for failing to meet their climate finance obligations, warning that developing nations cannot deliver on their climate goals without "predictable, transparent and reliable" financial support. Speaking on behalf of the Like-Minded Developing Countries (LMDCs) at the third high-level ministerial dialogue on climate finance at COP30 in Brazil's Belem, India said climate finance is a critical enabler of climate action in developing countries. "Without financial resources from developed countries, developing countries cannot achieve the level of mitigation and adaptation necessary to meet the NDCs (Nationally Determined Contributions)," India's negotiator Suman Chandra said. NDCs are national climate plans under the Paris Agreement that set targets to cut emissions and adapt to climate change, guiding global efforts to limit warming to 1.5 degrees Celsius. Countries are required to submit their third round of NDCs, referred to as

India's 2025 emission rate to fall but global jump raises warming alarm

India's projected CO₂ emissions growth of 1% (38.9 GtCO₂/year) is higher than the global average and China's 0.4%, but lower than the US rate of 1.9%

COP30 Brasil: India seeks green dollars as Gates mutes climate doom

As COP30 heads to Belem, India aims to push finance and tech for the Global South - but will it bring real capital or just more promises and targets?

Climate finance crucial, India needs $10 trn for net zero: Bhupender Yadav

Union Environment Minister Bhupender Yadav on Thursday said climate finance is the "make-or-break issue for climate action" and stressed that developed countries have a "moral responsibility to support the Global South" in its transition to a low-carbon economy. Addressing an event organised by industry chamber FICCI, Yadav said India will require more than USD 10 trillion by 2070 to meet its net-zero target and called for global financial systems to unlock private capital while ensuring transparency, accountability and affordability. "Public money cannot and would not be sufficient to address the scale of the problem at hand. The fiscal space is tight. The role of public budgets and concessional finance is to de-risk, crowd in and set rules that unlock private capital," he said. Yadav said climate finance is development finance. "Clean power, efficient cities, climate-smart agriculture and resilient infrastructure are not add-ons -- they are the foundation of energy security, food

Climate finance 'make-or-break issue', India needs $10 tn by 2070: Yadav

Union Environment Minister Bhupender Yadav on Thursday said climate finance is the "make-or-break issue for climate action" and stressed that developed countries have a "moral responsibility to support the global south" in its transition to a low-carbon economy. Addressing an event organised by industry chamber FICCI, Yadav said India will require more than USD 10 trillion by 2070 to meet its net-zero target and called for global financial systems to unlock private capital while ensuring transparency, accountability and affordability. "Public money cannot and would not be sufficient to address the scale of the problem at hand. Fiscal space is tight. The role of public budgets and concessional finance is to de-risk, crowd in and set rules that unlock private capital," he said. He said climate finance is development finance. "Clean power, efficient cities, climate-smart agriculture and resilient infrastructure are not add-ons; they are the foundation of energy security, food security

Net-Zero Banking Alliance halts activities as global banks exit membership

The reality is NZBA "never truly challenged the fossil fuel-oriented business models of major banks," said Lucie Pinson, the founder of climate nonprofit Reclaim Finance

$300 billion climate finance target by 2035 is insufficient: Centre

The government has expressed its disappointment with the outcome of COP-29 at Baku, saying the new global climate finance target of USD 300 billion annually by 2035 is "substantially insufficient" to meet the financing needs of developing nations. Responding to a question in the Lok Sabha, Minister of State for Environment Kirti Vardhan Singh said that the New Collective Quantified Goal on climate finance "does not address the needs and priorities of developing countries" and is "incompatible with the principle of Common but Differentiated Responsibilities and Respective Capabilities (CBDR-RC) and Equity". He cited estimates of the Standing Committee on Finance under the UN Framework Convention on Climate Change (UNFCCC), which place these needs between USD 5.1-6.8 trillion (equivalent to USD 455-584 billion) per year for up to 2030. The minister said that the categorisation of climate-related outflows and financial efforts by multilateral development banks as contributions to the U

Govt brings draft framework of 'India's Climate Finance Taxonomy'

The finance ministry's draft taxonomy aims to guide climate-aligned investments across power, mobility, buildings, MSMEs and hard-to-abate sectors

Climate goals of developing nations at risk without funds from rich: India

Developing nations will struggle to meet climate targets without sufficient funding from developed countries, leading to underfunded climate action, India said on Thursday. At the BRICS Environment Ministers' meeting in Brasilia, Brazil, India strongly advocated for climate justice and equity and said that the success of this year's UN climate conference depends on whether developed nations fulfil their climate finance commitments. "Developing countries must receive adequate financial and technological support from developed nations. The proposed USD 300 billion per year by 2035 under the New Collective Quantified Goal on climate finance falls significantly short of the USD 1.3 trillion required. "Without sufficient funding, developing nations will struggle to meet climate targets, perpetuating underfunded climate action," India said. With COP30 being hosted in Brazil, India said there is strong symbolic and political momentum for ambitious climate action. "COP30 provides an ...

Taxonomy for climate finance should be ready in 6 months: DEA secretary

Economic Affairs Secretary Ajay Seth has said work with respect to developing a taxonomy for climate finance is going on and it should be ready in the next six months or so. "Work is happening, and in fact, the steel ministry has completed their work. They have issued their taxonomy for the steel sector," he told PTI in an interview. However, he said, a much more comprehensive exercise covering all sectors of the economy is going on and a concept paper has already been shared with stakeholders concerned and their views have been obtained. "Various committees have been formed, one for each sector, and we expect that over the next six months that exercise can be completed," he added. Finance Minister Nirmala Sithraman in her Budget 2024-25 had announced a proposal for developing a taxonomy for climate finance. "We will develop a taxonomy for climate finance for enhancing the availability of capital for climate adaptation and mitigation. This will support achievement of the country's

India has received $ 1.16 billion in climate finance so far: Govt

India has so far received USD 1.16 billion for climate projects through the financial mechanism of the United Nations Framework Convention on Climate Change, the government informed Parliament on Thursday. This amount includes USD 803.9 million from the Green Climate Fund, USD 346.52 million from the Global Environment Facility (for climate change focal area), and USD 16.86 million from the Adaptation Fund, according to a written reply in the Rajya Sabha by Union Environment Minister Bhupender Yadav. However, the majority of India's climate actions have been financed through domestic resources, he said. The minister added India had been diligently working towards adaptation and resilience on a mission mode. "Several policies and measures have been put in place across key economic sectors, keeping in mind the wide scope of adaptation activities," he said. On the impact of climate change on farmers, Yadav said it was projected that crop yields might be adversely impacted in the abse

International cooperation flatlined, some hope in climate finance: WEF

Amid heightened geopolitical tensions and instability, international cooperation has 'flatlined', but positive momentum in climate finance, trade and innovation offers some hope, a Global Cooperation Barometer showed on Tuesday. Releasing the annual barometer ahead of its Annual Meeting in the Swiss ski resort town Davos, the World Economic Forum said the world leaders need to embrace 'disordered' cooperation and dynamic solutions-driven decision-making to deliver tangible results and build trust. It also said that artificial intelligence and other emerging technologies are reshaping the global landscape and driving upheaval, making concerted cooperation critical to harness benefits and minimise risks. The WEF's Global Cooperation Barometer offers a critical assessment of the state of global cooperation, showing a world grappling with heightened competition and conflict while also identifying various areas where leaders can drive progress through innovative collaboration. Released

How COP29 Summit in Azerbaijan accelerated trek to green financing

As the world's third-largest greenhouse gas emitter, India requires over $10 trillion to achieve its net zero emissions target by 2070

India plans final refinery expansion as electric vehicle era looms

This comes even as New Delhi is struggling to strike a balance between rapidly adopting EV and bolstering energy security by taking recourse to affordable and more reliable transport fuels

India slams developed countries for climate crisis at ICJ hearing

India home of about 17.8% of global population, its contribution to climate change less than 4%, said JS, MEA Luther M Rangrezi to ICJ

Trafigura bets on carbon-credit market rebound amid new regulations

At the same time, regulators in Europe, the US and Asia have come around to the view that many companies won't be able to report net zero emissions by mid-century without access to a functioning

Expressed 'deep disappointment' at EU's unilateral green regulations: Goyal

Union Minister Piyush Goyal on Thursday expressed India's "deep disappointment" with the European Union's "unilateral" green economy regulations, stating they are unfair and violate the principle of "common but differentiated responsibilities". Under the proposed EUDR, operators or traders placing specified commodities on the EU market or exporting them must prove their products do not come from recently deforested land or contribute to forest degradation. Carbon Border Adjustment Mechanism (CBAM) are tariffs that will apply on energy-intensive goods imported into the European Union (EU). India has concerns that the CBAM could result in higher tariffs on imports of carbon-intensive goods like cement, aluminium, iron, and steel from India, acting as a unilateral trade barrier. Addressing a press conference here, the commerce and industry minister said he raised the issue with his French counterpart during talks held a day earlier. On Wednesday, Goyal held discussions with Sophie ...

Rich nations fail to meet climate goals, study reveals worsening outlook

Investors largely agree that climate risks aren't fully priced into markets, and academics are now studying what they're calling the climate-sovereign debt doom loop to calculate the potential costs