New Delhi, Apr 4 (KNN) India has urged BRICS nations—Brazil, Russia, India, China, and South Africa—to mobilise USD 1.3 trillion in climate financing to strengthen global sustainability commitments.
Speaking at the 11th BRICS Environment Ministers’ Meeting in Brazil, India emphasised the urgent need for equitable carbon budget utilization and a balanced energy transition that supports developing nations.
The meeting underscored the Baku to Belem Roadmap, which aims to secure the required climate finance to meet Nationally Determined Contributions (NDCs).
However, projections from the upcoming Baku COP29 indicate that only USD 300 billion will be mobilized by 2035, far below the USD 1.3 trillion target demanded by developing countries.
Looking ahead, the 2025 United Nations Climate Change Conference (COP30) in Brazil is expected to play a crucial role in advancing climate adaptation and resilience.
Brazil’s Environment Minister, Marina Silva, highlighted COP30’s focus on the Global Ethical Stocktake (GST), which aims to limit global temperature rise to 1.5°C through comprehensive adaptation policies.
On energy security, India reaffirmed its commitments made in the BRICS New Delhi Declaration (2021), advocating for a diversified energy mix, including fossil fuels, hydrogen, nuclear, and renewables.
It also highlighted the Green Grids Initiative – One Sun, One World, One Grid, launched under the International Solar Alliance, as a transformative project for global renewable energy integration.
Additionally, India stressed the importance of resource efficiency and the circular economy in sustainability efforts. The Resource Efficiency and Circular Economy Industry Coalition, introduced under the G20, was presented as a model for global corporate collaboration in sustainable resource management.
“A just transition must recognize the unique economic realities of each nation,” India stated, calling for financial and technological support to ensure no country is left behind. India urged BRICS to champion developing economies’ interests in multilateral forums, advocating for an equitable and inclusive global transition.
(KNN Bureau)
