India Urges Climate Finance at COP30 Summit

India's Environment Minister Bhupender Yadav urged developed nations on Thursday to accelerate their path to net zero emissions and provide trillions of dollars in new, concessional climate finance during the ongoing United Nations COP30 summit in Belem, Brazil. Speaking at high-level dialogues, Yadav emphasized that such support is crucial for developing countries like India to advance low-carbon goals, while highlighting the need to remove intellectual property barriers on climate technologies.

The minister's statements came as negotiators from over 190 countries work toward finalizing key agreements under the UN Framework Convention on Climate Change, marking the 10th anniversary of the 2015 Paris Agreement. Yadav stressed that adaptation measures, aimed at helping vulnerable populations cope with climate impacts, must be treated as an essential investment rather than an optional add-on. He cited the 2025 Adaptation Gap Report, which estimates developing countries will require $310 billion to $365 billion annually by 2035 for adaptation, compared to current flows of about $26 billion. The Glasgow Climate Pact's target to double public adaptation finance to $40 billion by...