With COP30 on the horizon, concerns are growing over the slow progress in meeting the global climate finance target. According to Dr. Vishwas Chitale, Fellow for Climate Resilience at the Council on Energy, Environment and Water (CEEW), only 4–5 per cent of the $1.3 trillion climate finance goal has been achieved so far — a figure that underscores the urgent need for accelerated global action.
In an interview with ANI, Chitale emphasized that while the $1.3 trillion target is critical for supporting climate action, current efforts are significantly falling short.
“Around 4–5 per cent of the $1.3 trillion target has been achieved. We are really lagging behind. All developing countries are expected to contribute by 2030,” he said, adding that with increased effort at COP30, the goal is still within reach.
Developed Nations Must Lead, But Responsibility Must Be Shared
Chitale pointed out that the momentum behind climate finance continues to rely heavily on developed countries, which have so far contributed the most.
“There is funding from developed countries for developing countries, but developing countries must also uphold their commitments,” he noted, highlighting the principle of shared responsibility.
Beyond Finance: COP30’s Focus on Synergies and Resilience
He also stressed that COP30’s agenda extends beyond climate finance to include broader Rio synergies, encompassing land-use practices, climate action, and community resilience.
“We can improve land use and land cover practices as a whole. The main question is whether COP30 can deliver on the $1.3 trillion climate finance target — and whether we will see concrete action on that,” he added.
Progress on Loss and Damage, But More Action Needed
Reflecting on the Loss and Damage Fund, first introduced at COP27, Chitale acknowledged that there was some progress made during COP28 in Dubai, but much more is needed to turn promises into results — especially with the 2030 deadline fast approaching.
India’s Role as a Leader of the Global South
Chitale also highlighted India’s growing leadership role in climate negotiations, especially in representing the interests of the Global South on issues such as loss and damage, adaptation finance, and resilience.
“India has definitely emerged as a strong voice for the Global South and can lead negotiations from the perspective of developing countries,” he said.
He further cited India’s initiatives such as the Coalition for Disaster Resilient Infrastructure (CDRI), which is fostering strong networks across developing nations, and praised the Prime Minister’s ten-point agenda on disaster risk reduction and the Mission LiFE (Lifestyle for Environment) initiative, calling them “excellent steps” that provide direction for decisive action.
Need for Awareness and Momentum
Chitale concluded by emphasizing the need for more public engagement, awareness campaigns, and actionable outcomes from COP30.
