New Delhi, Nov 8 (PTI) India on Friday said global climate ambition remains inadequate even a decade after the Paris Agreement, as it joined Brazil's new global fund for tropical forests as an observer and called for developed nations to accelerate emission cuts and deliver promised climate finance.

Delivering India's statement at the Leaders' Summit of COP30 in Belem, Brazil, Indian Ambassador to Brazil Dinesh Bhatia reaffirmed the country's commitment to multilateralism and the Paris Agreement, which marks its 10th anniversary this year.

"India welcomes and supports Brazil's initiative in establishing the Tropical Forests Forever Facility (TFFF), representing a significant step towards collective and sustained global action for the preservation of tropical forests. India is pleased to join the Facility as an observer," Bhatia said.

Launched on Thursday, TFFF is a Brazil-led global fund to reward tropical countries for protecting and expanding forests. It aims to mobilise around USD 125 billion through public and private investment, using returns to pay nations that conserve forests. India said COP30 is an opportunity to reflect on the global response to the challenge of global warming and to celebrate the legacy of the Rio Summit, where the principles of equity and common but differentiated responsibilities and respective capabilities were adopted.

Ten years after the Paris Agreement, the country said global ambition remains "inadequate" and that "many nations' NDCs (nationally determined contributions) fall short".

"While developing countries continue to take decisive climate action, developed countries that have disproportionately appropriated the global carbon budget must accelerate emission reductions and deliver the promised, adequate and predictable support," the ambassador said.

India urged developed nations to reach net zero much sooner than they have declared and invest substantially in reaching net negative emissions.

While acknowledging the importance of mitigation, India stressed that it is equally important to focus attention on adaptation to address climate risks and vulnerabilities at the local level, more so in developing countries.

Bhatia said access to affordable finance, technology and capacity building is vital for developing countries to implement ambitious NDCs.

"Equitable, predictable and concessional climate finance remains the cornerstone for achieving global climate goals," he said.

NDCs are national climate plans under the Paris Agreement that set targets to cut emissions and adapt to climate change, guiding global efforts to limit warming to 1.5 degrees Celsius.

Countries are required to submit their third round of NDCs, referred to as "NDCs 3.0", for the 2031-2035 period this year.

Officials have said that India could submit its updated NDCs ahead or at COP30 scheduled from November 10 to 21.

Highlighting India's domestic progress, Bhatia said the country has consistently pursued a low-carbon development pathway and achieved several of its climate targets ahead of schedule.

Between 2005 and 2020, he said, India reduced the emission intensity of its GDP by 36 per cent and this trend continues.

The ambassador said non-fossil fuel-based power now accounts for over half of India's total installed capacity, enabling it to meet its revised NDC target five years early.

He said India's forest and tree cover has expanded to 25.17 per cent of its geographical area, creating an additional carbon sink of 2.29 billion tonnes of carbon dioxide, equivalent to the period from 2005 to 2021.

"With around 200 GW of renewable energy, India is now the world's third-largest producer of renewable energy, while ambitious programmes in solar, wind, green hydrogen and biofuels are transforming its energy landscape," he said.

The ambassador also highlighted India's leadership in launching the International Solar Alliance with France in 2015, which now unites over 120 countries to promote affordable solar energy and South-South cooperation.

"Together, let us ensure that the next decade of climate action is defined not only by targets but by implementation, resilience, and shared responsibility based on mutual trust and fairness," he said.

Bhatia said the coming decade of climate action should focus not just on setting targets but on concrete implementation, building resilience and ensuring shared responsibility rooted in mutual trust and fairness. PTI GVS MNK MNK