India announced a new country platform for climate finance at COP30 to improve access to funds. This aims to streamline efforts and enhance climate action.

At COP30 in Belem, Brazil, India, along with 12 other countries and a regional African alliance, announced a new national platform for climate and nature finance. This platform aims to streamline access to climate funds, moving away from a fragmented approach that has been criticized for its complexity. The Green Climate Fund (GCF), which has been operational since 2015, will coordinate this effort. Despite its significant financial commitments, only a quarter of the GCF's funds have been effectively allocated. The new platform is expected to enhance India's ability to engage with the GCF and improve access to necessary funding for climate adaptation and mitigation projects. The initiative will be guided by a steering committee primarily composed of representatives from developing countries, with initial funding of nearly $4 million to support early activities.