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India boosts climate spending to 5.6% of GDP, meets renewable targets early, and calls for fair global climate funding.
India has increased climate spending to 5.6% of GDP, more than double the 3.7% from six years ago, Finance Minister Nirmala Sitharaman announced in Munich.
The country is advancing its climate goals using domestic funds, achieving two-thirds of its renewable energy targets four years early.
The 2026-27 budget includes incentives for carbon capture technologies across urban and remote areas.
Sitharaman stressed the need for global climate finance based on the "polluter pays" principle, greater focus on adaptation, and equitable support for developing nations.
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India aumenta el gasto climático al 5.6% del PIB, cumple con los objetivos renovables desde el principio y pide una financiación climática global justa.