India Urges BRICS to Mobilize $1.3 Trillion for Climate Financing
India has urged BRICS to mobilize $1.3 trillion for climate finance, emphasizing equitable carbon budget utilization. The funding aims to support Nationally Determined Contributions (NDCs) and strengthen global sustainability commitments, particularly in preparation for future climate conferences.
On Thursday, India called upon the BRICS nations (Brazil, Russia, India, China, and South Africa) to mobilize $1.3 trillion to enhance climate financing mechanisms and achieve global sustainability commitments. During the 11th BRICS Environment Ministers’ meeting in Brazil, India underscored the urgent need for equitable utilization of the carbon budget while emphasizing the importance of a balanced transition that supports the growth of developing nations alongside sustainability efforts.
India’s appeal to BRICS for $1.3 trillion in climate finance reflects the urgent need for collaborative global efforts to meet climate goals. This funding is critical both for national commitments and the broader global adaptation strategy leading up to COP30. The emphasis on a just transition, resource efficiency, and a diverse energy mix highlights India’s commitment to sustainability and equitable development.
Original Source: www.business-standard.com
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