By Naveen Khandelwal, India CEO, Yanara
Ten years ago, at COP20 in Lima, the world set out to define a shared vision for climate action; a vision anchored in transparency, differentiated responsibility, and adaptation. That summit laid the groundwork for the Paris Agreement – humanity’s determined pivot toward a cleaner, fairer future. A decade later, as COP30 takes place, the landscape could not look more fragmented and complex.
The post-Ukraine reshaping of energy trade, shifting relations among major powers, and the resurgence of resource nationalism have collectively made energy sovereignty the new strategic priority. Trade protectionism and the fragility of global supply chains are compelling every nation to rethink how to balance economic growth, energy security, and decarbonisation. The result is a high-stakes transition unfolding in a turbulent world.
Caught in the crosscurrents: The global south’s challenge
The Global South finds itself in the eye of this storm – not as its architect, but as the region most exposed to its shifting winds. It faces a recurring cycle of advances and setbacks, where developmental aspirations are constantly tested by global economic shocks, uneven access to finance, science denialism and climate-induced vulnerabilities.
While opportunities abound for clean industrialisation and inclusive growth, the reality remains that developing nations must decarbonise while lifting millions out of poverty, a task far more complex than any transition the developed world might have faced in recent history.
Meanwhile, the human cost of climate change continues to rise. According to the World Health Organisation, between 2030 and 2050, climate change could cause an additional 250,000 deaths annually – primarily in regions across South Asia and Africa. The focus, across the developing world, therefore, has shifted strongly toward adaptation and resilience, even as nations continue to strive for low-carbon growth.
India’s high-wire act
India exemplifies this delicate balancing act. Its twin imperatives – sustaining rapid economic growth on its path to developed-nation status by 2047, while making significant strides toward its net zero target – demand precision and resolve.
India’s progress has been hard-won. Today it ranks among the world’s fastest-growing major economies and is on course to become the second-largest renewable energy market by the end of the decade. Through decisive policy measures and market reforms, the country has expanded its non-fossil installed capacity to more than 50 per cent, at about 260 GW, up over 3 times from roughly 78 GW a decade ago.
With favorable incentives such as 100 per cent foreign direct investment through the automatic route and steady economic fundamentals, the country has emerged as a leading destination for clean energy investment. Indeed, the share of renewable energy in the country’s total FDI inflows has risen eightfold since FY21.
Further, India is actively pursuing energy agreements with partners such as the United States, Australia, the UAE and others, deepening access to technology, critical minerals, and capital. Marquee global investors are entering India’s energy and infrastructure sectors with long-term confidence in its growth trajectory and governance.
That said, the convergence of urbanisation, industrialisation, and digitalisation is fueling an enormous wave of electrification to power data centers, transport, and modern manufacturing. Ergo, India is investing in integrated hybrid systems that combine solar, wind, and storage for round-the-clock power, upgrading transmission networks, and advancing new frontiers such as small modular reactors and green hydrogen. Simultaneously, the Critical Minerals Mission – covering over 1,200 exploration projects across 30 essential minerals – is helping India secure its clean-energy value chain and strengthen resource resilience.
Toward an equitable climate compact
India has already demonstrated that sustainable growth and clean ambition can co-exist. The country’s clean energy transformation stands as a template for inclusive and resilient development, balancing economic aspirations with environmental leadership.
Alongside all this, as a strong voice for the Global South, India is also advocating a global climate framework that recognises differing capabilities while uniting around shared responsibility. The urgency of the global transition to clean energy is more than just about capacity expansion; it is as much about initiative as it is about deep collaboration. A significant gap persists between commitments and delivery, particularly in the flow of capital and access to clean technologies, underscoring the need for stronger support from economically advanced nations.
Across many climate summits, the obvious ask across the developing world has been for the global financial frameworks to evolve to provide predictable, concessional, and scalable funding. For technology cooperation to move beyond pilot programs to true joint innovation and local value creation. For trade policies to be more equitable and sensitive to developmental realities.
The real deal
The success of COP30, and the future of global climate cooperation, must no longer be measured in communiqués, but in real mechanisms and tangible outcomes: finance that flows, technology that transfers, and partnerships that endure.
The path to net zero may neither be linear nor uniform, but if guided by trust, equity, and shared responsibility, it can lead to a world where growth and sustainability reinforce each other. What matters most now is the urgency of our actions and our collective resolve – COP30 must aim to move the needle toward a greener, more equitable future for all.
