Developing nations will struggle to meet climate goals without sufficient funds from developed countries and the success of this year’s United Nations Climate Conference (COP30) depends on whether the global answer meets its climate finance commitments, India has said.
In a meeting of BRICS Environmental Ministers in Braxilia, Brazil, India strongly advocated climate justice and equity and said that the group should ensure that the world’s limited carbon budget is uniformly used.
“Developing countries should get adequate financial and technical assistance from developed countries. Under the new collective magnitude target on climate finance, the proposed USD USD 1.3 trillion is required by 2035 by 2035.
“Without adequate money, developing nations will struggle to meet climate goals, reducing climate action,” India said.
Developed Countries – historically responsible for most of the greenhouse gas emissions – Last year, the United Nations Climate Conference in Azerbaijan had a new financial package to support climate action in developing countries. However, he offered USD 300 billion by 2035, a fraction of the required trillions per year from 2025.
India said that countries should work simultaneously on “Baku to Balem Roadmap” to ensure that Climate Finance meets the requirements of the national level contribution (NDCs) at the national level, which are non-intellectual national climatic schemes with the aim of achieving the goals of Paris Agreement. “Baku to Balem Roadmap from 1.3T” is aimed at increasing climate finance for developing countries, using both public and private funding, increasing the climate finance from 300 billion to USD from 1.3 trillions to developing countries. This will be an important priority on COP30. With COP30 hosted in Brazil, India stated that there is a strong symbolic and political speed for ambitious climate action.
“COP30 offers the opportunity to focus immediate focus on adaptation and flexibility, and the BRICS must unite in supporting the COP30 President to take meaningful action in all columns of climate talks,” it said.
India insisted that there is a significant difference between the current adaptation efforts and what is necessary. It said that 2025 is important for climate adaptation and flexibility, “We hope for the successful conclusion of the UAE-Belum work program on adaptation on COP30”.
A clear road map for the global goal on adaptation, supported by adequate means of implementation, should be a major result of COP30 and BRICS should work together to achieve it, the country said.
India also asked the BRICS nations to ensure that the world’s limited carbon budget is uniformly used, which prefer the sustainable development requirements of developing countries.
“As BRICS nations, we should strengthen our busyness in multilateral forums, make the interests of developing economies champions and advocate a fair and equitable transition,” said this.
India said that the expansion of bricks of five to eleven members highlights its growing global impact.
With this extended membership, BRICS has a even greater role in shaping the international agenda, determining priorities and shaping major global efforts for sustainable development.
India said that the BRICS nations, as some of the fastest growing economies in the world, share the general development goals, but also face environmental challenges such as desertification, land fall, air and marine pollution, biodiversity loss and water resources management.
It states that BRICS countries have strong scientific and technical expertise. Taking advantage of this knowledge can help in creating cheap and practical solutions to suit the needs of developing countries.
Together, BRICS accounts for 47 percent of the world’s population among nations and about 36 percent of the global GDP contributes about 36 percent of the terms of power equality. By 2050, the BRICS will play an important role in the energy sector, with 54 percent of global oil production, 53 percent natural gas reserves and 40 percent coal reserves.
The impact of the group on important minerals and strategic metals will be important in running global energy infection and furthering clean technologies.
(This story is not edited by NDTV employees and auto-generated from a syndicated feed.)
