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NEW DELHI — India has issued a bold and urgent appeal for a dramatic increase in global climate finance, stating that current funding levels fall far short of what is needed to meet long-term sustainability targets. Ahead of the COP30 climate summit, the Indian government has declared that it will require over $10 trillion by 2070 to achieve its net-zero emissions commitment.
Union Environment Minister Bhupender Yadav emphasized that climate finance must be reimagined—not as charity, but as a structural necessity for global equity and survival. He argued that developed nations must take greater responsibility for unlocking capital and reforming financial systems to support the energy transitions of emerging economies.
India’s position reflects growing frustration among developing countries, many of which have struggled to access promised funds under previous climate agreements. The longstanding pledge of $100 billion annually, made more than a decade ago, remains largely unmet. India now insists that future commitments must be predictable, scalable, and rooted in justice.
Domestically, India has already taken steps to align its economy with climate goals. New environmental audit rules have been introduced, and the Green Credit Programme has expanded to incentivize sustainable practices across agriculture, industry, and infrastructure. The Reserve Bank of India estimates that the country will need over $1 trillion by 2030 alone to finance its transition to cleaner energy and climate-resilient development.
At COP30, India is expected to push for reforms in multilateral lending institutions, operationalize carbon markets, and strengthen the Loss and Damage Fund created at the previous summit. These efforts aim to ensure that climate finance is not only available but also accessible without burdensome conditions.
As the global community prepares for critical negotiations, India’s assertive stance is likely to shape the agenda and influence other developing nations. The call for $10 trillion is more than a financial request—it is a demand for fairness, accountability, and shared responsibility in the fight against climate change.