India flags mitigation ambition gap by rich nations in 2031-35 climate plan

In its formal submission to UNFCCC, India states that its NDC and those of other developing countries depend on adequate funding, technology cooperation, and capacity-building from developed countries. It flags a mitigation ambition gap due to inadequate response by rich nations and calls for global collaboration in R&D and affordable transfer of clean technologies without prohibitive IPR costs. The document notes that commitments are contingent on receiving due support, including international climate finance, and may be revised to reflect available support; funding mechanisms including potential Green Climate Fund windows could help offset costs.

HT reported that the Cabinet approved enhanced climate targets for 2031-2035, raising commitments on emissions, clean energy, and forests. Targets include around 60% of cumulative electric power capacity from non-fossil energy by 2035, a 47% reduction in emissions intensity of GDP by 2035 (from 2005 levels), and a carbon sink of 3.5-4.0 billion tonnes CO2e by 2035, to be achieved with technology transfer and low-cost international finance.

The Second Needs Determination Report (UNFCCC SCF 2024) indicates a cumulative financing need ranging from $5.012 trillion to $6.852 trillion by 2030 for developing countries to implement NDCs, implying an annual mobilization requirement of approximately $455-584 billion between 2019 and 2030.