India Flags Global Adaptation Finance Gap Ahead of COP31 Climate Talks

Business Standard · environment

India has officially recognised heatwaves as natural disasters, highlighting a significant gap in global climate finance for vulnerable nations. Krishna S Vatsa of NDMA stated that international assistance for adaptation measures is inadequate and unpredictable. India's Adaptation Communication estimates a Rs 56.68 trillion expenditure need by 2030, with 98% currently sourced domestically. This disparity is expected to be a key issue at COP31 in Turkiye, as developing countries struggle to fund essential climate survival strategies and efficient cooling technologies.