Prime Minister Narendra Modi amplified Union Environment Minister Bhupender Yadav’s call for overhauling the global climate finance system, stressing transparency, accountability, and common standards. Sharing Yadav’s article, the PM said India’s draft Climate Finance Taxonomy and strong domestic green finance showcase pragmatic leadership that can guide future global reforms.

BulletsIn:

* PM shares Bhupender Yadav’s article calling to fix global climate finance

* Emphasis on transparency, common standards, trust-building

* Yadav: climate finance still ambiguous—grant, loan, or repackaged aid?

* Current system anchored in MDBs, GCF, GEF deemed inadequate

* Issues: weak accountability, opaque reporting, governance favouring rich nations

* Developing countries face tough access: complex processes, high borrowing costs

* India reiterates COP demand: $1 trillion annual climate finance

* India pushed MDB reforms during G20 Presidency for larger private capital mobilisation

* Domestic push: draft Climate Finance Taxonomy, stronger green finance ecosystem

* Sovereign green bonds attract strong global interest; ₹10,000 cr more in FY 2025–26

* RBI & SEBI strengthening green disclosure norms

* India needs $10 trillion to reach net zero by 2070