editorial
Why India could shape the next global financial order
As climate-finance needs surge and the old global financial order comes under strain, the country could help build an inclusive, multipolar system for green development
Context
The global financial architecture, traditionally dominated by the Global North through institutions like the and , is facing increasing pressure due to the escalating need for climate finance and the changing global power dynamics. With developed nations scaling back commitments and traditional struggling to mobilize sufficient private capital for green development, a multipolar order is emerging. India is positioning itself as a leader of the Global South, advocating for institutional reform and utilizing platforms like and its own initiatives to shape a more equitable system for global green finance.
Exam Perspectives
Key References
AI-generated study notes · sourced from The Hindu