At the 11th BRICS Environment Ministers’ Meeting in Brasília, Brazil, India urged all 11 BRICS partners to unite in advancing the Baku to Belém Roadmap. This critical initiative aims to mobilize USD 1.3 trillion annually by 2035 to support Nationally Determined Contributions (NDCs) and drive global sustainable climate action.
Key Highlights
India’s Stand: Urged BRICS partners to rally behind the Baku to Belém Roadmap, targeting USD 1.3 trillion annually by 2035 to help implement Nationally Determined Contributions (NDCs).
Initiative Origin:
- Part of the UNFCCC process.
- Aimed at bridging the climate finance gap between COP29 (Baku, Azerbaijan) and COP30 (Belém, Brazil).
- It seeks to mobilize USD 1.3 trillion annually by 2035, including USD 300 billion from public sources, to support climate action in developing countries.
Finance Goal:
- Mobilise $300 billion/year from public sources.
- Total goal: $1.3 trillion/year by 2035 to fund climate action in developing nations.
About Baku to Belém Roadmap
Objective:
- Scale Up Climate Finance: Align financial flows to match developing country needs.
- Promote Equity: Ensure just transition pathways for Global South
- Address Barriers: Tackle high capital costs, lack of concessional finance, and regulatory constraints
- Enhance Role of MDBs: Multilateral Development Banks to expand their climate financing support
- Strengthen Global Partnerships: Enable co-financing from public & private sectors.
Key Features:
- Holistic Approach: Combines grants, concessional loans, and private sector investments.
- Non-Debt Tools: Emphasises non-debt creating instruments for sustainable financing.
- Transparency & Accountability: Encourages stakeholder engagement and clear reporting.
- Technical Over Political: Focus on evidence-based financial mapping, not political negotiations.
- Inclusive Process: BRICS, G77, private sector, and MDBs involved.
India’s Focus at COP Summits:
- COP29 (Baku, 2024): Developed nations committed $300 billion annually by 2035 under the New Collective Quantified Goal (NCQG) though this falls short of the developing countries $1.3 trillion need.
- COP30 (Belém, 2025):
- Scheduled for Nov 10–21, 2025, in Belém, Brazil.
- India to push for increased climate finance, highlighting shortfalls from COP29.
- Scheduled to focus on enhancing international cooperation and pushing for increased climate funding to bridge the financial gap left by COP-29 commitments.
What are Nationally Determined Contributions (NDCs)?
- Voluntary climate plans by countries under the Paris Agreement.
- Target both emission reduction and climate adaptation.
- Countries must report and update their NDCs regularly.
- NDCs are not legally binding but are vital for global climate commitments.
About BRICS Group
Members (11 nations): Originally consisting of Brazil, Russia, India, China, and South Africa, the BRICS group now includes 11 countries. New members include Egypt, Ethiopia, UAE, Iran, Indonesia, and Saudi Arabia, enhancing the group’s negotiating power in multilateral climate governance.
Act as a unified voice for developing countries in climate governance and multilateral negotiations.
Global Weight:
- 47% of the world’s population.
- 36% of global GDP.