At COP28, India is expected to build on G20 climate outcomes by backing faster renewable growth and calling for about $4 trillion annually in climate finance for developing countries. But it is unlikely to sign onto stronger coal phasedown pledges, setting up a tough negotiation as global targets tighten while India seeks flexibility for its energy transition.
While the G20 spotlight stayed on Delhi, the Sustainable Finance Working Group met in Varanasi to push climate finance forward—aiming to scale both private and public sustainable funding. Experts say the direction is encouraging, but important specifics remain unclear, leaving parts of the agenda unfinished and raising questions about how commitments will translate into action.
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