New Delhi, March 6, 2025: India has reaffirmed that meeting a 1.5-degree Celsius global warming target is feasible but only if the developed nations fulfill their money and technology promises. Addressing the World Sustainable Development Summit organized by TERI, Union Environment Minister Bhupender Yadav stressed the importance of taking up climate action right away, noting that the present multilateral architecture is not adequate to address global issues in an effective manner. He called for reforms in global governance to prioritize equity, justice, and on-the-ground action as the centerpieces of climate negotiations.

The Developed World's Role in Climate Action:-
According to the 2024 UNEP Emissions Gap Report, it is technically feasible to stay on the path to the 1.5-degree Celsius goal, with solar and wind energy technologies offering significant reductions in emissions. But the transformation requires urgent action and an enormous financial sum. Industrialized nations, which have accumulated the majority of the greenhouse gas emissions, were supposed to table a new and ambitious package of finance to assist climate initiatives in the Global South. At the UN Climate Conference in Azerbaijan, they promised just $300 billion by 2035, well below the estimated $1.3 trillion annually from 2025.

The new climate-finance framework, or New Collective Quantified Goal, shifts the burden of finance to developing countries from historically high-emitting nations on a voluntary basis. This contravenes the principle of equity, as developed economies are obligated to mobilize funds under Article 9 of the Paris Agreement. The lack of adequate financing discourages the progression of climate mitigation and adaptation efforts in developing countries, slowing global climate action.

India's Climate Progress and Leadership:-
India has been revealed as an international climate leader, demonstrating development in sustainability and reductions in emissions. India, according to its Fourth Biennial Update Report to the UNFCCC, has reduced the emission intensity of GDP by 36% over 2005-2020 and targets 45% by 2030. The 2025 national budget has emphasized long-term energy security, including nuclear capacity up to 100 GW by 2047 in its plans. India's adaptation finance expenditure has also increased from 3.7% of GDP in 2015-16 to 5.6% in 2021-22, reflecting an enduring interest in climate risk avoidance.

Economic Risks and Adaptation Finance Needs:-
The economic effects of climate change are dire, with studies suggesting that India could lose 24.7% of its GDP by 2070 due to climate-related disruptions. Finance for climate adaptation remains inadequate, as the 2024 UNFCCC NDC Synthesis Report pointed out that 81% of countries have included adaptation measures in their climate plans, particularly in food security, water management, and ecosystem conservation. Adaptation support, however, remains much below requirements, further limiting the ability of developing countries to implement effective climate resilience interventions.

Call for Bold Partnerships and Private Sector Engagement:-
India has urged climate action through audacious, cross-cutting alliances and partnerships involving a central position of the private sector in steering innovations and solutions toward sustainability. Industries and academic research institutions have been urged to establish scalable innovations, which are viable for addressing greenhouse gas reductions as well as ensuring climate resilience. International solidarity, strategic clean investments in power, infrastructure, and sustainable growth can help facilitate the achievement of long-term climate targets.

Conclusion:-
India keeps encouraging developed nations to take more climate action while leading by example with the adoption of green policies. The current international climate-finance system must be reformed to enable fair contributions from historical emitters so that developing nations can transition to renewable energy and build climate resilience. Through concerted efforts, cooperation, and adequate funding, the goal of limiting global warming to 1.5 degrees Celsius is not yet out of reach.

Source: Government of India, UNEP Emissions Gap Report, UNFCCC Fourth Biennial Update Report