Syllabus: Effect of policies and politics of developed and developing countries on India’s interests
Context
- India announced plans to create a national “country platform” for climate and nature finance during a ministerial event at COP30 in Belem, Brazil.
- The platform aims to streamline access to Green Climate Fund (GCF) resources, addressing long-standing challenges faced by developing countries.
Green Climate Fund: Issues and Importance
- GCF is the world’s largest institutional climate finance mechanism with $19 billion committed, but only one-fourth allocated by 2024.
- Developing countries criticise the GCF for complex disbursal procedures and limited technical assistance.
- GCF aims to balance adaptation and mitigation funding, but access barriers remain significant.
Why a New Country Platform?
- India already accesses GCF finance but follows a fragmented approach.
- The newly proposed platform will coordinate national engagement, streamline proposals, and improve institutional readiness to tap GCF resources.
- The initiative aligns with global calls for prioritising adaptation and improving climate finance access at COP30.
India’s Role in COP30 Negotiations
- India led developing countries in demanding a focused roadmap for Article 9.1 of the Paris Agreement, requiring developed nations to provide climate finance.
- India supports finalising indicators for the Global Goal on Adaptation (GGA), where experts have narrowed 10,000 indicators to a proposed 100 for COP adoption.
- India is also expected to release National Adaptation Plans, increasing emphasis on adaptation outcomes.
Global and Regional Participation
- Similar platforms were announced by Cambodia, Colombia, Kazakhstan, Mongolia, Nigeria, Oman, Rwanda, Dominican Republic, Togo, South Africa, and the African Islands States Climate Commission (AISCC).
- Total number of GCF-supported platforms has risen to 16, including earlier Brazil and Caribbean platforms.
GCF Funding for India
- As of August 2024, India secured 11 GCF projects worth $782 million.
- Projects cover water, clean energy, coastal resilience, livelihoods, transport, MSMEs, and climate start-ups.
- Most funding is via concessional loans, routed through the Environment Ministry, India’s National Designated Authority for GCF.
Q- “Climate finance must shift from pledges to predictable delivery.” Discuss in the context of India’s demands at COP30. (10 Marks)