COP32 Climate Negotiations Enter Final Phase

As COP32 entered its final phase in early December 2026, negotiations intensified over unresolved core issues of global climate governance. Key discussion points included scaling up climate finance beyond existing commitments, operationalising the Loss and Damage Fund, and reaffirming the principle of Common But Differentiated Responsibilities and Respective Capabilities (CBDR–RC). Developing countries, including India, stressed the need for predictable, concessional and grant-based finance, while developed nations pushed for broader mitigation commitments from emerging economies.

Key negotiation themes

• Climate Finance:
  Developing countries demanded clarity on timelines, sources and quantum of finance, highlighting the gap between pledges and actual disbursement. Calls were made to move beyond loans towards grants and to include adaptation finance on par with mitigation.
• Loss and Damage Fund:
  Negotiations focused on governance structure, eligibility criteria and funding sources. Vulnerable countries sought automatic and needs-based access, while developed nations raised concerns over liability and long-term financial obligations.
• Equity and Differentiation:
  The debate reflected ongoing tensions over historical responsibility for emissions versus present and future mitigation expectations, especially for rapidly growing economies.

India’s position

India reiterated its commitment to climate action while firmly advocating climate justice. It highlighted:

• Low per capita emissions compared to developed countries
• The need to balance development imperatives such as poverty alleviation and energy access
• The importance of technology transfer and capacity building alongside finance

India also stressed that unilateral mitigation pressure on developing countries without adequate support undermines trust in the multilateral climate regime.