India’s Bold Climate Call: Urges 190+ Nations to Boost Green Contributions Ahead of Crucial COP Meeting
India Pushes for Equitable Climate Finance Ahead of COP 30, Warns of Fiscal Risks and Broken Promises
As the global climate discourse intensifies ahead of COP 30 in Belém, Brazil, India has issued a strong, detailed submission to the United Nations Framework Convention on Climate Change (UNFCCC), calling for a realistic and accountable financial roadmap that aligns with both the developmental needs of the Global South and the promises made under the Paris Agreement.
In its submission dated May 27, 2025, ahead of the Bonn Climate Conference set to begin on June 16, India has articulated its concerns regarding the persistent inadequacy of climate finance provided by developed nations and the growing risks posed by reliance on private capital and excessive borrowing. The call comes as part of the broader “Baku to Belém Roadmap to 1.3T” initiative, which aims to mobilize $1.3 trillion in climate finance annually by 2035.
A Stark Warning on Climate Finance Gaps
India’s submission opens with a pointed observation: there remains a substantial gap between the current financial contributions under the New Collective Quantified Goal (NCQG) and the actual needs identified by developing countries to meet their 2030 Nationally Determined Contributions (NDCs).
“Without sufficient climate finance, even the proposed NDCs would not fructify, leave alone any enhanced level of ambition in future NDCs,” the document notes, warning that this systemic shortfall could stall the momentum of global climate action.
India also reiterated its objection to the climate finance outcome adopted at COP 29 in Baku, Azerbaijan—a decision the country had strongly opposed due to what it termed as a “stage-managed” process that failed to reflect the voice and priorities of developing nations.
The “Baku to Belém Roadmap to 1.3T”: A Fork in the Road
The “Baku to Belém Roadmap to 1.3T,” launched at COP 29, envisions a target of mobilizing $1.3 trillion per year in climate finance by 2035. While ambitious in rhetoric, India argues that the proposal’s underlying mechanisms are flawed and heavily skewed toward the interests of developed economies and financial institutions.
India’s negotiator Chandni Raina, an advisor at the Ministry of Finance, identified three critical issues in the Baku proposal:
- Overreliance on a “wide variety of sources” – including private and multilateral sources – which dilutes the accountability of developed countries.
- Recognition of finance mobilised through multilateral development banks – which often offer loans, not grants, thereby increasing debt burdens.
- Encouragement of developing country contributions – a move seen as shifting financial responsibility away from historical emitters.
India insisted that the financial discussion must be brought back in line with Article 9.1 of the Paris Agreement, which clearly stipulates that “Developed country Parties shall provide financial resources to assist developing country Parties… in continuation of their existing obligations.”
Sovereign Fiscal Health Cannot Be Sacrificed
India’s submission also strongly emphasized the economic risk of excessive borrowing for climate initiatives. “Overleveraging through debt instruments to finance climate projects poses a serious risk to fiscal stability,” the statement reads.
According to India, public capital from developed nations must serve as a strategic lever to “crowd in” private investment, but should not be substituted by it. Moreover, financial support should not come at the cost of a developing country’s fiscal discipline or sovereignty.
The Human Development–Energy Link
India reiterated the centrality of developmental equity in climate action, stressing that higher energy consumption correlates with improvements in the Human Development Index (HDI). Developing countries cannot be asked to curtail growth or energy access without robust external financial support.
“Achieving sustained growth in developing countries depends on a virtuous cycle of domestic savings and productive investment,” the submission argues. Climate finance frameworks must acknowledge that energy equity is a precursor to climate ambition, not a competing interest.
Rejecting Global Taxation and One-Size-Fits-All Models
The document also cautioned against introducing global levies or sectoral climate taxes, warning that such measures lack international consensus and undermine the principle of Common But Differentiated Responsibilities and Respective Capabilities (CBDR-RC).
The CBDR-RC principle, embedded in the 1992 UNFCCC treaty and reaffirmed in the Paris Agreement, recognizes the historical responsibility of developed nations for cumulative greenhouse gas emissions and calls for differentiated obligations based on each country’s capacity.
India asserted that proposals that fail to respect this foundational principle not only threaten to derail international cooperation but also place disproportionate pressure on emerging economies that are still striving to meet basic development goals.
A History of Unmet Promises
India’s frustration is not without precedent. Since the 2009 Copenhagen Accord, developed countries have pledged to mobilize $100 billion annually in climate finance—a target that remains unmet to this day. Multiple reports, including by the OECD and independent watchdogs, have questioned the accuracy of financial flows being reported by developed nations, citing issues like double counting and inflated figures from private investments.
India and other Global South nations argue that unless there is transparency and verifiability in climate finance tracking, future goals like the $1.3 trillion roadmap will be seen as mere rhetorical devices.
Towards a Country-Led, Bottom-Up Approach
One of the submission’s recurring themes is the need for country-led approaches that empower developing nations to design and implement climate strategies that are tailored to their unique socioeconomic contexts.
India stated that further climate negotiations and implementation must adhere to the bottom-up architecture of the Paris Agreement. Imposing top-down financial structures risks alienating developing nations and eroding the consensus-based nature of the UN climate framework.
India’s approach is not merely obstructionist—it is strategic, rooted in developmental realities, and aimed at preserving the integrity of the climate finance process.
Domestic Political and Diplomatic Context
India’s assertiveness also comes amid its growing leadership in international climate diplomacy. As a major economy balancing rapid industrial growth with ambitious green goals, India has already set targets for 500 GW of non-fossil fuel energy capacity by 2030 and plans to achieve net-zero emissions by 2070.
At forums like the G20 and International Solar Alliance, India has advocated for just energy transitions and pushed for greater financial and technological support for developing countries. Domestically, it has rolled out initiatives like PM-KUSUM for solarising agriculture, and the National Green Hydrogen Mission, but all of these require consistent international financial backing to scale.
India’s stance also finds resonance among other countries in Asia, Africa, and Latin America, many of whom are quietly backing its insistence on financial equity as a prerequisite for ambitious climate action.
The Global South’s Last Bargaining Chip?
With traditional forms of aid and concessional financing declining, and trust between the Global North and South at a historic low, India’s submission may be seen as a final push to restore accountability in global climate finance.
“In an atmosphere of aid cuts and reducing international cooperation, there are few hooks remaining to hold developed countries accountable for what they owe and committed to,” said Avantika Goswami of the Centre for Science and Environment, echoing the sentiment expressed in India’s submission.
Reinforcing the duty of developed countries to provide finance is not just a technical ask, she noted, but a moral and political necessity that underpins the very future of global climate cooperation.
Looking Ahead to COP 30 in Brazil
With the Bonn Climate Change Conference set to begin in mid-June and COP 30 scheduled for later this year in Belém, Brazil, India’s proactive submission seeks to shape the contours of the debate in the months ahead.
India’s leadership in voicing concerns of the Global South will likely continue to feature prominently as countries negotiate the operational details of the $1.3 trillion roadmap. Whether the developed world will rise to the challenge remains uncertain, but India has made one thing clear: future climate ambition cannot come at the cost of equity, sovereignty, or fiscal stability.
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