Close Menu
Invest Insider News
    Facebook X (Twitter) Instagram
    Wednesday, December 10
    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

    What will happen at the Second Reading of the Finance Bill? – NFUonline

    December 9, 2025
    Finance

    Guernsey Finance appoints Barnaby Molloy as CEO

    December 9, 2025
    Finance

    Why AI Projects Fail In Finance—And How To Build Ones That Succeed

    December 9, 2025
    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
    Bitcoin

    Bitcoin Is The Best Way To Store Wealth For The Future, Jack Mallers Says

    August 29, 2025
    Property

    A Guide To Becoming A Property Developer

    December 31, 2000
    Commodities

    Commodities Outlook 2026: Energy cools as metals heat up | reports

    December 8, 2025
    What's Hot

    What Beximco Pharma says to London Stock Exchange about unrest impact

    August 14, 2024

    Commodities sector heading for gains ahead of US elections

    October 28, 2024

    Bitcoin and Digital-Asset Stocks Rally After Powell Hints at Rate Cut

    August 22, 2025
    Most Popular

    US appeals court orders judge to reconsider Biden ESG investing rule | The Mighty 790 KFGO

    July 19, 2024

    AJ Bell reveals the original AIM stocks that are still on the market 30 years later

    June 13, 2025

    Commodities trading booms as new strategy emerges

    June 3, 2018
    Editor's Picks

    Crypto’s Election-Prediction Money Machine; Bitcoin Billionaire Cash Out

    August 6, 2024

    MGA adds landlords product to Acturis after Applied withdraws Epic from UK

    June 23, 2025

    Top US health official acknowledges more federal money for utility help is needed for extreme heat

    August 8, 2024
    Facebook X (Twitter) Instagram Pinterest Vimeo
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions
    © 2025 Invest Insider News

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