India called on the BRICS nations—Brazil, Russia, India, China, and South Africa—to mobilize $1.3 trillion in climate financing to support global sustainable development goals. This plea came during the 11th BRICS Environment Ministers’ meeting held in Brazil, where India emphasized the need for equitable carbon budget utilization to address the climate crisis while ensuring the economic growth of developing countries.
India’s focus was on the Baku to Belem Roadmap, which aims to secure the necessary funds to meet the Nationally Determined Contributions (NDCs) of developing nations. The roadmap envisions $1.3 trillion in climate finance, but the COP29 meeting in Baku is expected to mobilize only $300 billion by 2035, significantly falling short of this target.
India highlighted the urgency of COP30, to be hosted by Brazil in 2025, in advancing global adaptation and resilience efforts, particularly in limiting global temperature rise to 1.5°C.
In addition to climate finance, India reaffirmed its commitment to energy security, promoting a diversified energy mix that includes fossil fuels, hydrogen, nuclear energy, and renewables. India also presented its Green Grids Initiative—One Sun, One World, One Grid, which aims to create a global renewable energy network through the International Solar Alliance.
India’s call for a just transition emphasized the importance of tailoring solutions to the diverse economic realities of nations. With adequate finance, technology, and capacity-building, India advocates for a transition that ensures no nation is left behind, reinforcing the need for BRICS nations to lead in multilateral forums for sustainable change.
