Context:
• Growing geopolitical tensions and weakening multilateral institutions have raised concerns about the future of global climate cooperation.
• Experts emphasize the need for stronger international collaboration, climate finance, and equitable climate governance to achieve global climate goals.
Key Highlights:
Challenges to Multilateral Climate Governance
• The withdrawal of major powers such as the United States from certain climate arrangements has weakened international climate cooperation frameworks.
• Increasing reliance on bilateral and plurilateral agreements reflects declining trust in consensus-based multilateral institutions.
Climate Finance Gap
• Current global climate finance flows amount to approximately $1.9 trillion annually.
• However, $6–9 trillion per year is required to keep global warming within the 1.5°C target of the Paris Agreement.
• India alone will require $10–20 trillion by 2070 (around $250–450 billion annually) to achieve net-zero emissions.
• Present climate finance flows to India are only about $135 billion per year, highlighting a significant funding gap.
Trade and Climate Policy Interactions
• Some countries are increasingly using trade measures to enforce environmental standards, such as:
• Carbon border adjustments
• Green trade regulations.
• These policies could impact developing countries’ exports and industrial competitiveness.
Global Platforms for Cooperation
• India is hosting the 25th World Sustainable Development Summit (WSDS) organized by The Energy and Resources Institute (TERI) in New Delhi.
• The summit provides a platform for dialogue between developed and developing countries to promote equitable climate cooperation.
Strategic Approaches to Climate Action
• Focus on non-CO₂ emission reductions and ecosystem restoration.
• Promote collaborative initiatives such as the Global Implementation Accelerator.
• Encourage cooperation among willing countries to sustain clean energy investments.
Relevant Prelims Points:
• Multilateralism: Cooperation among multiple countries to address global issues through international institutions.
• Climate Finance: Financial resources aimed at mitigation of greenhouse gas emissions and adaptation to climate change.
• Net-Zero Emissions: Achieving a balance between greenhouse gas emissions produced and removed from the atmosphere.
• Paris Agreement (2015):
• Global treaty aiming to limit global warming to well below 2°C, preferably 1.5°C above pre-industrial levels.
• World Sustainable Development Summit (WSDS):
• An annual global forum hosted by TERI in India focusing on sustainable development and climate policy dialogue.
Relevant Mains Points:
Importance of Global Climate Collaboration
• Climate change is a transboundary problem requiring collective action.
• Multilateral frameworks ensure shared responsibility, technology transfer, and financial support for developing countries.
• Cooperation helps accelerate the global transition to renewable energy and sustainable development.
Concerns for Developing Countries
• Insufficient climate finance to support mitigation and adaptation.
• Risk of unilateral trade barriers in the name of environmental protection.
• Need to ensure equity and common but differentiated responsibilities (CBDR).
India’s Role in Global Climate Governance
• Advocates equity-based climate action and climate justice.
• Promotes initiatives such as International Solar Alliance (ISA) and Coalition for Disaster Resilient Infrastructure (CDRI).
• Pursues ambitious domestic renewable energy and net-zero commitments (2070 target).
Way Forward
• Strengthen multilateral climate institutions and global cooperation mechanisms.
• Increase climate finance commitments from developed countries.
• Promote technology transfer and green innovation partnerships.
• Ensure inclusive climate governance incorporating vulnerable communities and developing nations.
UPSC Relevance:
• GS Paper 3: Climate Change, Sustainable Development, Global Environmental Governance.
• GS Paper 2: International Cooperation and Global Institutions.