Leadership in climate finance

Sir,
India’s substantial contribution of USD 1.28 billion to climate finance in 2022, as highlighted by the Daily Excelsior, is a commendable achievement. Despite being a developing nation with numerous internal challenges, India is setting a powerful example for global climate action. The contrast between India’s proactive efforts and the failure of wealthier nations to meet their commitments exposes a glaring inequity in climate responsibility.
It is disheartening to see developed nations like the USA and Australia, which have benefited the most from industrialisation, consistently fall short of their financial promises. Their reliance on loans, rather than grants, exacerbates the debt burdens of developing nations, hindering progress in climate adaptation.
As the world faces worsening climate crises, it is crucial for wealthier countries to fulfill their obligations and provide meaningful financial support. Only then can true global climate resilience be achieved.
Surjit Sharma
Udhampur