{"id":46258,"date":"2025-06-25T21:23:58","date_gmt":"2025-06-25T15:53:58","guid":{"rendered":"https:\/\/www.nextias.com\/ca\/?p=46258"},"modified":"2025-06-25T21:24:11","modified_gmt":"2025-06-25T15:54:11","slug":"climate-finance-4","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/25-06-2025\/climate-finance-4","title":{"rendered":"Climate Finance"},"content":{"rendered":"\n<p><strong>Syllabus: GS3\/Environment<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Context<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>India has emerged as a vocal leader among developing nations, reigniting the debate over climate finance obligations, at the <strong>ongoing climate talks in Bonn, Germany.<\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-background has-fixed-layout\" style=\"background-color:#fff2cc\"><tbody><tr><td><strong>Bonn Climate Change Conference<\/strong><br>&#8211; It is formally known as the <strong>Sessions of the UNFCCC Subsidiary Bodies (SB62), <\/strong>held <strong>annually in Bonn, Germany.<\/strong><br>&#8211; It brings together delegates from nearly 200 countries to advance technical negotiations and lay the groundwork for decisions at the year-end COP summit.<br><strong>Focus Areas<\/strong><br>&#8211; Finalizing indicators for the <strong>Global Goal on Adaptation (GGA)<\/strong><br>&#8211; Advancing the<strong> Just Transition Work Programme<\/strong><br>&#8211; Scaling up <strong>Climate Finance<\/strong>, including discussions on the $1.3 trillion roadmap<br>&#8211; Enhancing transparency systems and climate data exchange<br>&#8211; Reviewing progress on <strong>Nationally Determined Contributions (NDCs)<\/strong> and <strong>Article 6 mechanisms of the Paris Agreement<\/strong>.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>About Climate Finance<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>It refers to <strong>local, national, or transnational funding <\/strong>\u2014 sourced from public, private, and alternative channels \u2014 that <strong>supports mitigation and adaptation actions<\/strong> to address climate change.<\/li>\n\n\n\n<li>It is grounded in the <strong>principle of Common But Differentiated Responsibilities (CBDR)<\/strong>, recognizing that developed countries must provide financial support to those with fewer resources and greater vulnerability.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Roadmap of Climate Finance<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>At <strong>COP29 in Baku<\/strong>, the global community adopted the <strong>Baku to Bel\u00e9m Roadmap (B2B Roadmap)<\/strong> as part of the <strong>New Collective Quantified Goal (NCQG)<\/strong> on climate finance.<\/li>\n\n\n\n<li>It aims to scale up climate finance to <strong>$1.3 trillion annually by 2035<\/strong>, a significant leap from the<strong> unmet $100 billion annual pledge<\/strong> made in 2009.\n<ul class=\"wp-block-list\">\n<li><strong>Rio Declaration (1992)<\/strong> formally introduced the <strong>polluter-pays principle<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Why Climate Finance Is Essential?<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Bridging the Adaptation Gap: <\/strong>Adaptation remains underfunded compared to mitigation.\n<ul class=\"wp-block-list\">\n<li>Developing countries need financial support to build resilient infrastructure, climate-smart agriculture, and early warning systems.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Enabling Mitigation at Scale:<\/strong> Transitioning to clean energy, improving energy efficiency, and reducing emissions in sectors like transport and industry demand large-scale investments.\n<ul class=\"wp-block-list\">\n<li>Without climate finance, many developing nations cannot meet their <strong>NDCs under the Paris Agreement.<\/strong><\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Addressing Equity and Justice:<\/strong> Developed nations, historically responsible for the bulk of emissions, are obligated to support those who contributed least but suffer most.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Concerns<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>For Developing Nations:<\/strong>\n<ul class=\"wp-block-list\">\n<li><strong>Sovereignty and Conditionality: <\/strong>Developing countries, including India, have raised concerns about the imposition of external conditions on finance delivery.\n<ul class=\"wp-block-list\">\n<li>The <strong>G77 and China bloc<\/strong> emphasized that climate finance must <strong>respect national priorities<\/strong>.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Shift from Provision to Mobilization:<\/strong> India, speaking on behalf of the <strong>Like-Minded Developing Countries (LMDCs)<\/strong>, reiterated that climate finance is a <strong>legal obligation<\/strong>, not an investment opportunity.<\/li>\n\n\n\n<li><strong>Adaptation vs. Mitigation Imbalance: <\/strong>While mitigation projects \u2014 like renewable energy \u2014 attract more funding, adaptation efforts remain underfunded.\n<ul class=\"wp-block-list\">\n<li>It affects vulnerable communities in the Global South, who face the brunt of climate impacts.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>For Developed Nations:<\/strong>\n<ul class=\"wp-block-list\">\n<li><strong>Expanding Donor Base:<\/strong> Some developed countries argue that emerging economies like<strong> China and Gulf nations<\/strong> should contribute to climate finance, citing their economic strength.<\/li>\n\n\n\n<li><strong>Private Sector Reliance:<\/strong> Developed nations increasingly advocate for private-sector-led finance, raising concerns about transparency, equity, and alignment with public interest.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>India\u2019s Climate Finance Landscape<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>India\u2019s Global Advocacy:<\/strong> India has consistently emphasized the <strong>legal obligation of developed nations<\/strong> under <strong>Article 9.1 of the Paris Agreement<\/strong> to provide climate finance.<\/li>\n\n\n\n<li>India has received <strong>approximately USD 1.16 billion<\/strong> in climate finance <strong>through UN mechanisms <\/strong>\u2014 comprising funds from the <strong>Green Climate Fund, Global Environment Facility, and Adaptation Fund<\/strong>.\n<ul class=\"wp-block-list\">\n<li>Most of India\u2019s climate action, including large-scale renewable energy deployment and adaptation programs, is financed through domestic resources.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>India &amp; Adaptation: <\/strong>The <strong>Economic Survey 2024\u201325<\/strong> highlights the development of a <strong>National Adaptation Plan (NAP)<\/strong> and the submission of an <strong>Initial Adaptation Communication (IAC)<\/strong> to the UNFCCC. These include:\n<ul class=\"wp-block-list\">\n<li>Climate-resilient agriculture through improved seeds and soil health.<\/li>\n\n\n\n<li>Urban adaptation via the <strong>National Mission on Sustainable Habitat (NMSH).<\/strong><\/li>\n\n\n\n<li>Water body rejuvenation under AMRUT, with over 3,000 projects approved.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<p><a href=\"https:\/\/indianexpress.com\/article\/india\/climate-finance-india-takes-lead-in-cornering-developed-nations-10086522\/\" rel=\"nofollow noopener\" target=\"_blank\">Source: IE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<h3><strong>Context<\/strong><\/h3>\n<li class=\"ms-5\">India has emerged as a vocal leader among developing nations, reigniting the debate over climate finance obligations, at the ongoing climate talks in Bonn, Germany.<\/li>\n<p><\/p>\n<h3><strong>About Climate Finance<\/strong><\/h3>\n<li class=\"ms-5\">It refers to local, national, or transnational funding \u2014 sourced from public, private, and alternative channels \u2014 that supports mitigation and adaptation actions to address climate change.<\/li>\n<li class=\"ms-5\">It is grounded in the principle of Common But Differentiated Responsibilities (CBDR), recognizing that developed countries must provide financial support to those with fewer resources and greater vulnerability.<\/li>\n<p><a href=\"https:\/\/www.nextias.com\/ca\/current-affairs\/25-06-2025\/climate-finance-4\" class=\"btn btn-primary btn-sm float-end\">Read\u00a0More<\/a><\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-46258","post","type-post","status-publish","format-standard","hentry","category-current-affairs"],"acf":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/46258","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=46258"}],"version-history":[{"count":2,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/46258\/revisions"}],"predecessor-version":[{"id":46267,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/46258\/revisions\/46267"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=46258"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=46258"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=46258"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}