As the fortnight-long COP31 climate summit opens in Antalya, Turkey, the backdrop could not be more ominous. The world is hurtling towards record heat, exacerbated by a powerful El Niño effect, with indications that the critical 1.5°C warming threshold is on the verge of being breached. From catastrophic heatwaves in Europe and devastating floods in Nepal to collapsing glaciers and prolonged droughts, the dreadful consequences of rising temperatures are painting a grim picture of the present and the shape of things to come. The world leaders gathered at COP31 need to heed to stark wake-up call and work towards concrete climate action at an accelerated pace.

At the top of the agenda should be climate finance. Developing and climate-vulnerable nations will rightfully clamour for the financial muscle needed to support urgent mitigation and adaptation initiatives. A UN Environment Programme report highlights how, despite the increase, financial flows from wealthy nations fall short of the target of USD 305 billion annually required by 2035. High-income countries have been resorting to accounting jugglery and offer costly commercial loans instead of grants, thus vulnerable economies are saddled with debt burden.

For New Delhi, securing a predictable, public, and concessional climate finance system is a top priority. Historically, India has utilised these multilateral stages to elevate its global standing and project a larger-than-life image of Prime Minister Narendra Modi. However, after years of high-visibility manoeuvres, the yawning gap between international rhetoric and domestic reality was laid bare this April when New Delhi quietly withdrew its ambitious bid to host the COP33 summit in 2028—a proposal proudly floated by the Prime Minister three years ago at the 2023 climate summit. The onus now rests on the delegation led by Union Environment Minister Bhupender Yadav to reassert India's self-styled role as the preeminent voice of the Global South.

India’s credentials on climate action are undeniably credible. It boasts of low per capita emissions and a spectacular expansion of renewable energy, which now accounts for half of its installed electric power capacity—meeting its climate targets well ahead of schedule. Initiatives like the co-founded International Solar Alliance further cement its leadership. Yet, this green transformation is deeply undermined by a paradoxically skewed development agenda at home. The government faces intense domestic and international criticism for expanding coal and thermal power projects, alongside serious allegations of political favouritism towards a specific corporate house alleged to be involved in pricing frauds that cost the public exchequer. Furthermore, the administration is facing stiff resistance from local communities for prioritising aggressive infrastructure projects at the cost of fragile, irreplaceable ecosystems—such as the Great Nicobar Project, the Siang Upper Multipurpose Project, mining in the Hasdeo Arand forest, and the Ken-Betwa river linking project. These are often enabled by the dilution of environmental regulations to favour corporate giants.

The COP framework may be facing its moment of reckoning. While the UN summits have been undeniably successful in mainstreaming climate change and placing it firmly on the global agenda, they have achieved limited success in translating lofty ideals into concrete action. To avert the staring at a crisis of credibility, COP31 needs to achieve tangible results in terms of progress in climate finance and evolving a mechanism to transition to a low-carbon economy.