Close Menu
Invest Insider News
    Facebook X (Twitter) Instagram
    Friday, April 17
    Facebook X (Twitter) Instagram Pinterest Vimeo
    Invest Insider News
    • Home
    • Bitcoin
    • Commodities
    • Finance
    • Investing
    • Property
    • Stock Market
    • Utilities
    Invest Insider News
    Home»Finance»Failure of developed countries on climate finance makes NDCs unachievable: India at COP30
    Finance

    Failure of developed countries on climate finance makes NDCs unachievable: India at COP30

    November 15, 20254 Mins Read


    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.

    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.
    | Photo Credit:
    istock.com

    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 “NDCs 3.0”, for the 2031-2035 period this year.

    India is yet to submit its updated NDCs.

    The country said the Paris Agreement created clear legal responsibilities for developed nations to provide climate finance to developing countries.

    “The provisions of finance under Article 9.1 are a legal obligation of developed countries and not a voluntary act,” Chandra said, adding that Article 9.3 further requires them to lead in mobilising finance.

    Yet, she said, developed nations have neither honoured these obligations nor ensured transparency or predictability in the financial flows they report.

    India again strongly criticised the New Collective Quantified Goal (NCQG), or the new global finance goal adopted at COP29 in Baku last year.

    It said the NCQG decision was a “suboptimal” outcome with no clear commitment from developed countries, making it impossible for developing nations to meet their NDCs.

    India said the NCQG “specifically refers to Article 9.3, with the legal mandate under Article 9.1 going completely unaddressed”. The outcome was “inadequate” and “incomplete” and “at best… a deflection of the responsibilities of the developed countries”, it said.

    At this year’s climate conference, developing countries have demanded that Article 9.1 be included on the official agenda for formal negotiations.

    Brazil, the host country, instead proposed holding informal consultations on this issue and three other politically sensitive topics, including unilateral trade measures such as the EU’s Carbon Border Adjustment Mechanism (CBAM), to narrow differences before a stocktake meeting on Saturday.

    India also said many developed countries have supplied outdated information in their biennial reports. “In our understanding, or any rational understanding, [this] does not translate into predictability,” it said.

    India also highlighted that “certain developed countries reported a decrease in financial support compared to the previous years, with reductions ranging from 51 to 75 per cent and 76 to 100 per cent, respectively”.

    It said there continues to be a lack of consistency among developed countries in defining what constitutes new and additional climate finance, as well as a “failure to distinguish between development finance and climate finance”.

    India said grants and highly concessional resources under Article 9.1 are essential to lower the cost of capital and support sustainable investments in developing countries.

    Strengthening the financial mechanism of the UNFCCC through higher replenishments, efficiency improvements, and the removal of conditionalities would significantly improve resource flows, it said.

    India added that while innovative tools such as blended finance can help under Article 9.3, they cannot replace the core legal obligations under Article 9.1.

    It stressed that financial support must be “predictable, additional and devoid of concerns of greenwashing” for the Paris Agreement to progress.

    India also backed calls for multi-year, quantified projections from developed countries, supported by clear methodologies, to ensure reliability.

    Published on November 16, 2025



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleFOMC meeting minutes to gold prices: Top five triggers for Indian stock market this week
    Next Article Foreign investors return to China’s stock market

    Related Posts

    Finance

    Finance leaders warn over Mythos as UK banks prepare to use powerful Anthropic AI tool | AI (artificial intelligence)

    April 16, 2026
    Finance

    Finance ministers and top bankers raise serious concerns about Mythos AI model

    April 16, 2026
    Finance

    G7 finance chiefs say it is urgent to limit Middle East war’s cost to global economy

    April 16, 2026
    Leave A Reply Cancel Reply

    Top Posts

    How is the UK Commercial Property Market Performing?

    December 31, 2000

    How much are they in different states across the US?

    December 31, 2000

    A Guide To Becoming A Property Developer

    December 31, 2000
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • WhatsApp
    • Twitter
    • Instagram
    Latest Reviews
    Stock Market

    Ripples felt across global stock markets, US-Russia talks, global stock markets, London Stock Exchange, Ukraine

    February 18, 2025
    Stock Market

    Today’s markets: Shares fall as tech slump takes hold

    August 21, 2025
    Bitcoin

    Bitcoin Price Climbs and Meme Coins Spike After Trump Attacked at Rally

    July 14, 2024
    What's Hot

    ‘Frivolous petition’: SEBI, BSE to challenge FIR order against Madhabi Puri Buch, officials in stock market fraud case – Market News

    March 2, 2025

    Anand Piramal takes over as chair of Piramal Finance post merger of parent with co

    September 24, 2025

    Stock market today: Most of Wall Street climbs on encouraging inflation report, but Big Tech slumps

    July 11, 2024
    Most Popular

    Pour les dirigeants du monde, une expérience dans la finance ne fait plus figure de repoussoir

    March 14, 2025

    Hindustan Copper shares rally 7%: What’s the big trigger? – Market News

    September 25, 2025

    Bitcoin Gets $90K Calls Amid a ‘Slowdown’ in ETF Inflows

    September 25, 2025
    Editor's Picks

    Utilities required to repave after digging up roads – Star News Group

    July 27, 2024

    BTC Price Prediction After Trump Official Confirms Strategic Bitcoin Reserve as a Top Priority for U.S.

    January 17, 2026

    Tehran, Tel Aviv among targets amid ongoing strikes By Investing.com

    March 6, 2026
    Facebook X (Twitter) Instagram Pinterest Vimeo
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions
    © 2026 Invest Insider News

    Type above and press Enter to search. Press Esc to cancel.