Overview
- Speaking at the Munich Security Conference’s ‘Degrees of Instability’ town hall on February 14, Nirmala Sitharaman said climate‑action allocations have risen from about 3.7% of GDP six years ago to nearly 5.6% today.
- She said India has invested its own funds and is not waiting for overseas finance or technology, even as she added that both should still come.
- Invoking equity, she pressed for a ‘polluter pays’ approach and differentiated cost‑sharing so countries with lower historical emissions are not charged equally.
- She said India has achieved nearly two‑thirds of its renewable‑energy NDCs four years ahead of schedule.
- She said the Union Budget 2026–27 earmarks incentives for carbon‑capture deployment and emphasizes resilience and adaptation, while warning that many African countries may lack the fiscal space to match such spending.