The 11th BRICS Environment Ministers’ Meeting was held in Brasilia, Brazil. In that global event, India raised their concern over the proactive actions for a better environment and requested the nations who took part in the meeting including Brazil, Russia, South Africa, China and others to collaborate on the ‘Baku to Belem Roadmap’. It is a progressive initiative that aims to mobilize the fund of $1.3 Trillion annually by 2035 and it also helps to support the climate action goals which were designed by NDC (Nationally Determined Contributions).
The annual fund of $300 billion that falls under the NCQG (New Collective Quantified Goal) is significantly short of the required amount, says India. Also, such insufficient financial resources for the developing countries might encounter the risk of failing to meet their climate commitments. Thereby, India is urging the developed countries to help them by fulfilling the financial obligations in climate actions and to bridge the funding gap for sustainable development in the global south. India’s call for unity in mobilizing the finance for any climate actions reflects the unparalleled commitment and their vision for equitable future.
