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Why did India say international finance and technology transfer were needed for its climate plans?
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Paris Agreement
(From left) José Gurría, Justin Trudeau, Enrique Peña Nieto, Jim Yong Kim, François Hollande, Angela Merkel, Michelle Bachelet, and Hailemariam Desalegn during the 2015 UN climate change conference that resulted in the Paris Agreement.
In its intended nationally determined contribution (INDC) for the Paris Agreement, India emphasized that its climate action plans were not affordable using only domestic resources. The country estimated that at least $2.5 trillion would be required to implement its climate goals through 2030.1
This financial challenge was compounded by the need to balance environmental commitments with the urgent task of eradicating poverty, noting that approximately 304 million people in India lacked access to electricity. To bridge this gap, India stated that it required:1
- International finance: Assistance from mechanisms such as the Green Climate Fund to support investments in low-emission technologies and climate-resilient development.1
- Technology transfer: The movement of essential skills and equipment from more-developed countries to support the transition toward renewable energy and reduced emissions intensity.1