India on Monday outlined its climate action expectations for the next six years at the annual high-level ministerial roundtable on pre-2030 ambition. Among the main expectations is “mutual trust” between the parties.

“This confidence depends on access to improved financial resources, technology transfer, capacity building and availability of market-based mechanisms,” India said in its statement.

The summary report on Nationally Determined Contributions (NDCs) for 2024 does not paint a totally gloomy picture, said Leena Nandan, Secretary of the Ministry of Environment, Forests and Climate Change and Deputy Head of the Indian Delegation .

She added that 195 parties have submitted their NDCs and 180 have updated them.

“In 2030, total global GHG emissions are estimated to be approximately 2.6% lower than in 2019, indicating the possibility of a peak in global emissions before 2030. It is safe to assume that all the parties have united to take this important step in the fight against pollution. against climate change,” she said.

With the next CDNs expected next year, these numbers could improve further. But to achieve peak emissions, the conditional elements of NDCs must be implemented, Nandan stressed.

“This mainly depends on access to improved financial resources, technology transfer and technical cooperation, as well as support for capacity building; and the availability of market-based mechanisms. We are in this crucial COP on FINANCE. This is an opportunity for developed countries to ensure the success of this CoP and foster CONFIDENCE to achieve significant milestones in climate ambitions by 2030,” Nandan said.

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India’s statement comes at a crucial time in the negotiations, where there is an erosion of trust between developing countries seeking an ambitious new collective quantified target on climate finance (NCQG) and developed countries pushing for for countries to adopt ambitious economy-wide mitigation targets to achieve the Paris Agreement. keep global warming well below 2°C compared to pre-industrial levels, and continue efforts to limit it to 1.5°C.

The carbon budget is exhausted

“According to the NDC 2024 summary report, cumulative CO2 emissions over the period 2020 to 2030 are likely to use up to 86% of the remaining carbon budget. Therefore, our discussions and deliberations are taking place at a crucial time to act decisively,” Leena said, adding that the pre-2030 period is an opportunity.

She added that ambitious climate action will be based on two main questions.

“This ambitious, action-oriented approach relies on bold action by parties who are required to take the lead in economy-wide emissions reductions,” she said.

These include developed countries achieving net zero emissions and ensuring that developing countries are not burdened by the failures of the pre-2020 regime’s mitigation measures, and that climate solutions are both effective and fair.

“It is necessary to intensify innovative actions through technology transfer without barriers or restrictions. New technologies and solutions are needed to drive the transition to a low-carbon economy. However, innovation in areas such as clean energy, carbon removal, etc. is still in its early stages and there are barriers to scaling it up and transferring it to developing countries,” she said, emphasizing the need to remove barriers to intellectual property rights for the technology transfer.

The second issue she flagged was climate finance (flowing from developed to developing countries as mandated by the Paris Agreement), which is key to enabling and implementing climate actions.