COP30: India calls equitable, concessional finance the cornerstone; urges developed nations to deliver on climate commitments

India has reiterated that equitable, predictable, and concessional climate finance remains central to achieving global climate goals, underscoring the principle of fairness and shared responsibility at the Leaders’ Summit of COP30 in Belem, Brazil.Delivering India’s National Statement, Ambassador Dinesh Bhatia said the country’s climate action continues to be guided by equity, national circumstances, and the principles of Common but Differentiated Responsibilities and Respective Capabilities (CBDR-RC), ANI reported.The 30th Conference of the Parties (COP30) to the UN Framework Convention on Climate Change (UNFCCC) will be held in Belem from November 10 to 21. India thanked Brazil for hosting the summit on the 10th anniversary of the Paris Agreement and recalled the legacy of the Rio Summit, which laid the foundation for global climate governance.“This is an opportunity to reflect on the global response to climate change and celebrate the legacy of the Rio Summit, where the principles of equity and CBDR-RC were adopted,” the Ministry of Environment, Forest and Climate Change said in a statement.India welcomed Brazil’s initiative to establish the Tropical Forests Forever Facility (TFFF) and joined the platform as an Observer, calling it a vital step toward protecting tropical ecosystems through sustained global collaboration.Highlighting its domestic progress, India said it has reduced the emission intensity of its GDP by 36% between 2005 and 2020 and achieved over 50% non-fossil power capacity—reaching its revised Nationally Determined Contribution (NDC) targets five years ahead of schedule.The statement also noted the creation of an additional carbon sink of 2.29 billion tonnes of carbon dioxide equivalent between 2005 and 2021, and India’s position as the world’s third-largest producer of renewable energy with nearly 200 GW of installed capacity.Citing initiatives such as the International Solar Alliance, which now connects over 120 countries, India highlighted its leadership in promoting affordable renewable energy and South-South cooperation.The country expressed concern that while developing nations are taking decisive steps toward emission reduction, many developed countries continue to fall short of their NDC commitments. India urged advanced economies to accelerate emission cuts and deliver on their pledges for predictable finance, technology transfer, and capacity-building support.“India is ready to collaborate with all nations to implement sustainable solutions in ways that are ambitious, inclusive, fair, and equitable,” the ministry said.Reaffirming its commitment to the Paris Agreement and multilateralism, India called for the next decade of climate action to focus on implementation, resilience, and shared responsibility grounded in trust and fairness.At COP26 in 2021, India announced its five-part “Panchamrit” pledge, which includes reaching 500 GW of non-fossil electricity capacity, meeting half of energy needs through renewables, reducing emissions by 1 billion tonnes by 2030, cutting emissions intensity of GDP by 45%, and achieving net-zero emissions by 2070.India’s renewable energy growth continues to outpace coal additions, according to a recent S&P Global Ratings report, placing the country among the leaders in South and Southeast Asia.