Climate Finance Developments at COP30
A ministerial event focused on climate finance was held during COP30 in Belem, Brazil on November 15, 2025. The event emphasized the establishment of national platforms for "climate and nature finance" coordinated through the Green Climate Fund (GCF).
Green Climate Fund (GCF) Overview
- Established in 2015, the GCF is the world's largest institutional mechanism for climate finance.
- Has commitments worth $19 billion; however, only 25% properly allocated as of 2024.
- Criticized for complex disbursal mechanisms and limited technical support.
- Aims to ensure funds are evenly split between adaptation and mitigation.
India's Role and Initiatives
- India is among 13 countries and a regional African alliance announcing new platforms for climate finance.
- Aims to shift from a fragmented approach to a centralized "country platform" for accessing funds.
- As of August 2024, India has 11 projects/programmes with GCF worth $782 million in sectors like water, clean energy, and transport.
- India's Environment Ministry serves as the primary access point for GCF-linked funding.
Global Goal on Adaptation (GGA)
Efforts are underway to finalize a list of indicators to measure progress towards the GGA. India leads developing countries in pushing for a focus on Article 9.1 of the Paris Agreement, which mandates developed countries to provide funds for mitigation and adaptation.
Formation of Country Platforms
- 16 platforms, including existing ones like the Brazil Country Platform and Caribbean Regional Platform.
- New platforms announced by countries including Cambodia, Colombia, and South Africa.
- The initiative will be guided by a steering committee with representatives from developing countries.
- Supported by the Africa Climate Foundation (ACF) with initial funding of nearly $4 million.
Conclusion
The event highlights the ongoing global efforts to improve access to climate finance, with particular emphasis on the role of developing countries and their strategies to leverage funds for climate action.
