On Day 9 of COP30 in Belém, Brazil, India — speaking on behalf of the Like-Minded Developing Countries (LMDCs) group — made a strong push for enhanced climate finance commitments from developed nations, particularly around Article 9.1 of the Paris Agreement and the New Collective Quantified Goal (NCQG) on climate finance.

India called for a structured 3-year work programme under Article 9.1, which obligates developed countries to mobilise climate finance for developing nations. This demand came as the NCQG negotiations were centring on a floor of $300 billion per year by 2035, with a broader goal of mobilising $1.3 trillion annually from all sources.

India's position emphasised that climate finance must reflect historical responsibility and the principle of climate equity — developed nations, which have contributed the most to cumulative greenhouse gas emissions, must bear a proportionate financial burden. India argued that the $300 billion NCQG floor was insufficient relative to the actual adaptation and mitigation needs of the Global South.

The IISD (International Institute for Sustainable Development) reporting from Belém noted that the LMDCs (including India, China, Bolivia, Cuba, and others) consistently linked climate finance to the principle of common but differentiated responsibilities (CBDR). India stressed that any NCQG outcome must include grant-based and concessional finance rather than loans that add to developing nations' debt.

The climate equity debate at COP30 has become a defining axis: whether the new goal represents real new money from public sources or simply repackages existing commitments and private sector flows.