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🔆 India Calls for Dialogue on Climate Finance

📍 Why in Focus?
✅ At the UN Climate Change negotiations (SB64) in Bonn, Germany, India called for addressing the shrinking pool of international climate finance and the widening adaptation finance gap, while reaffirming the principle of climate equity and common but differentiated responsibilities (CBDR-RC).

📍 What is Climate Finance?
✅ Refers to local, national and international financial resources mobilised from public, private and alternative sources to support climate mitigation and adaptation initiatives.

📍 Key Global Concerns
✅ UN estimates that the adaptation finance gap for developing countries is 10–18 times current international public financial flows.
✅ Developing countries require $5–6 trillion by 2030 to implement their Nationally Determined Contributions (NDCs).
✅ The proposed New Collective Quantified Goal (NCQG) seeks at least $300 billion annually by 2035, which developing nations consider inadequate.

📍 India’s Stand
✅ Emphasised implementation of Article 9.1 of the Paris Agreement, which obligates developed countries to provide financial resources to developing nations.
✅ Called for a dedicated negotiation agenda on climate finance obligations.
✅ Coordinated with G77 & China, LMDC and BASIC blocs to strengthen the voice of the Global South.
✅ Opposed unilateral climate-linked trade measures such as the EU’s Carbon Border Adjustment Mechanism (CBAM).

📍 Why Strong Climate Finance is Essential?
✅ Upholds the principle of historical climate justice.
✅ Enables developing countries to pursue green transitions without falling into debt traps.
✅ Supports renewable energy expansion and climate adaptation.
✅ Protects agriculture, infrastructure and global supply chains from climate shocks.

📍 Major Challenges
✅ Resistance from developed countries to strengthen finance commitments.
✅ Growing use of protectionist green trade barriers.
✅ Attempts to impose additional emission obligations without corresponding financial support.
✅ Diversion of resources due to geopolitical conflicts.
✅ Slow and complex access to international climate funds.

📍 Way Forward
✅ Ensure dedicated implementation of Article 9.1 under the UNFCCC process.
✅ Finalise Global Goal on Adaptation (GGA) indicators for measurable funding.
✅ Simplify access to the Green Climate Fund (GCF).
✅ Move towards transparent, grant-based climate finance under the post-2025 NCQG framework.
✅ Strengthen collective bargaining by developing country groupings.

📍 UPSC Value Addition

✅ Article 9.1 of the Paris Agreement
Mandates that developed countries shall provide financial resources to assist developing countries in mitigation and adaptation efforts.

✅ NCQG (New Collective Quantified Goal)
The post-2025 global climate finance target intended to replace the earlier $100 billion annual commitment.

✅ CBDR-RC Principle
Recognises that while all nations share responsibility for climate action, developed countries bear greater obligations due to historical emissions and greater capabilities.

📍 UPSC Mains Practice Question

“Climate finance remains the cornerstone of climate justice and equitable global climate governance. Discuss India’s position on international climate finance and examine the challenges in mobilising adequate resources for adaptation and mitigation in developing countries.” (GS-III | 15 Marks | 250 Words)

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