India among nations yet to share new climate plan, Moody’s says

India is among the world’s major emitters yet to submit a revised national climate plan ahead of COP30 later this year, as a new Moody’s Ratings report warned that even the latest climate pledges are unlikely to keep global warming below 2°C.

The report notes that India, China, and the European Union—all key players in the global climate response—have missed the UN’s original February 2025 deadline to submit their updated Nationally Determined Contributions (NDCs).

While the deadline has been extended to September, only 19 countries had submitted updated plans by the end of March, covering just over 20% of global greenhouse gas emissions.

The implementation of more ambitious climate targets, especially in emerging markets like India, will depend heavily on external financial and technological support—areas where progress remains slow, Moody’s cautioned.

India, the world’s third-largest emitter, has made notable strides in reducing emissions intensity. By 2023, the country had cut emissions per unit of gross domestic product (GDP) by 55% from 2005 levels—surpassing its 2030 target of a 45% reduction. Yet its overall emissions continue to rise, driven by growing energy demand and reliance on coal.

The report warned that India’s power sector is set to see coal-fired generation rise by over 30% by 2035, even as renewable capacity expands.

Agriculture, transportation, and urban development are also expected to contribute significantly to future emissions, especially with an estimated 100 million Indians reaching legal drinking age and entering the workforce over the next five years.

India’s climate policies remain closely tied to social priorities, including access to electricity, affordable housing, job creation, and a just transition for communities dependent on carbon-intensive industries. These overlapping goals add complexity to policy execution.

Moody’s estimated that keeping global temperature rise below 2°C will require up to six times the current level of mitigation investment.

Without significant increases in international climate finance—especially for adaptation and resilient infrastructure—emerging economies like India may fall short of achieving their goals.

The 30th UN Climate Change Conference (COP30) will take place in Belém, Brazil, this November.

Updated NDCs from countries like India are expected to feature more ambitious targets, but analysts said the real test will lie in how quickly and effectively those pledges are implemented.