India Demands Fund for Equitable Just Transition at COP30

India Demands Fund for Equitable Just Transition at COP30

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India has formally called for the establishment of a dedicated “Just Transition Mechanism” under the UNFCCC, arguing it is essential for delivering equitable climate action in developing nations.

At the Third Annual High-Level Ministerial Roundtable on Just Transition at COP30, Union Environment Minister Bhupender Yadav positioned the transition as an economy-wide, people-centred transformation, not merely an energy-sector shift.

Focus beyond the energy sector:

The minister stated that any just transition must be holistic, directly addressing critical issues such as strengthening resilience, creating employment opportunities, protecting livelihoods, eradicating poverty, and ensuring food security. He said these transformation pathways must be nationally determined to reflect the diverse starting points and development needs of each country.

The fintech mechanism:

India, along with the Global South bloc, strongly supported the creation of a dedicated mechanism to bridge existing implementation gaps. This instrument, Shri Yadav argued, must ensure the reliable delivery of financial and technological support to developing countries.

“Affordable and adequate access to finance, technology, and capacity building—aligned with national circumstances—is vital to ensure that no one is left behind,” Yadav said.

Warning on unilateral measures:

The Minister also issued a warning against trade-restrictive climate measures, such as the EU’s Carbon Border Adjustment Mechanism (CBAM), cautioning that such actions undermine the core principles of equity and justice central to the Paris Agreement. India views these unilateral measures as “serious dis-enablers” of a fair transition.

India reaffirmed that the principles of Equity and Common but Differentiated Responsibilities and Respective Capabilities (CBDR-RC) must be operationalized to advance a truly just global transition.

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ESGNEWS Team

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