Developed countries must fulfil climate finance obligations: India at COP31

New Delhi, Nov 10 (IANS) India has called on developed countries to fulfil their climate finance obligations under Article 9.1 of the Paris Agreement and reaffirmed its commitment to climate multilateralism, seeking a fair, equitable and ambitious outcome at the UNFCCC COP31 being held in Antalya, Turkey, the Ministry of Environment, Forest and Climate Change said on Tuesday. 

“On climate finance, India emphasised that public finance from developed countries remains central to catalysing climate action in developing countries and strengthening adaptation finance flows to address their vulnerabilities,” the ministry said in a press release.

Delivering India’s Opening Statement at COP31, Secretary, Ministry of Environment, Forest and Climate Change, Narendra Bhooshan expressed gratitude to Turkey and Australia for their leadership of COP31 and stated that India aligns itself with the statements made by G77 and China, LMDC, and BASIC.

“It underscored the fundamental importance of Article 9.1 of the Paris Agreement, which establishes the obligation of developed countries to provide financial resources to developing countries,” the release said.

India underlined that the UNFCCC and its Paris Agreement remain the most inclusive platforms where every country has a voice, and reaffirmed its faith in the process, rooted in equity and the principle of Common But Differentiated Responsibilities and Respective Capabilities (CBDR-RC).

“Highlighting the growing challenges posed by the prospect of crossing 1.5°C warming, India stressed that equity has become particularly urgent to ensure that no one is left behind in the collective effort to address climate change,” the ministry said.

India also underscored that just transition and meeting adaptation needs remain significant challenges, particularly for the Global South, where these are closely intertwined with the challenge of development itself.

The two-week COP31 opened in Antalya on Monday with its President Murat Kurum calling on countries to turn climate promises into practical action, as the world confronts increasingly interconnected climate, economic and geopolitical challenges.

Kurum called for COP31 to become an “implementation COP”, focused on closing the gap between commitments made in negotiating rooms and tangible improvements in people’s lives.

According to the United Nations Environment Programme’s (UNEP) “2026 Adaptation Gap Report: Ready? Not”, international public adaptation finance flows from developed to developing countries are far below estimated needs of $305 billion annually by 2035.

--IANS

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