Goyal at Berlin dialogue asks EU what happened to $100 billion climate finance pledge

Union Commerce and Industry Minister Piyush Goyal is on an official visit to Germany and the Netherlands from October 22 to 27, 2026. Speaking at the Berlin Global Dialogue 2026 in Berlin, he put the European Union (EU) under direct questioning on climate change and trade policy.

Goyal said developed countries had promised $100 billion a year for the global climate fund but had not kept the promise. He asked directly what had happened to the assurances given and where the money had gone.

From the international platform, he reminded developed countries of their historical responsibility. He said the grave crisis of climate change the world faces today is the result of several decades of industrial and unchecked carbon emissions by developed countries.

During the discussion, Goyal made particular mention of the 2015 Paris climate agreement (COP21). He said Prime Minister Narendra Modi had brought together the countries of the Global South, meaning developing and least developed nations, to fight climate change. At the same meeting, developed countries had pledged $100 billion a year to help least developed and island nations with decarbonisation and green energy.

According to Goyal, 11 years have passed and the pledge has not been acted upon. He said, "We have not received even a nickel or a dime of that $100 billion. All of it turned out to be promises written only on paper." He said that instead of giving developing countries financial and technical support, the European Union had completely ignored these issues.

In his speech, Goyal cited figures to target Europe. He asked who was responsible for all this environmental mess, who had destroyed the ozone layer and who had released thousands of tonnes of carbon into the atmosphere.

He said India is home to 17 per cent of the world's population, yet its share of global carbon emissions is under 3 per cent. By contrast, Europe has only 3 to 4 per cent of the world's population, yet it accounts for the largest share of historical carbon emissions and environmental damage. Goyal said those who created the problem are washing their hands of responsibility and imposing restrictions on developing countries.

Goyal also strongly objected to the EU's Carbon Border Adjustment Mechanism (CBAM) and the European Union Deforestation Regulation (EUDR). Under CBAM, an additional tax is being levied on high-emission goods such as steel, aluminium, iron and cement entering Europe. Strict rules are also being brought in to allow only products made without deforestation into the market.

Goyal said these trade policies are unfair trade barriers imposed in the name of the environment. He said Europe is harming its own economy by imposing green taxes and strict conditions. Warning European leaders, he said, "This is like shooting yourself in the foot and inviting an economic crisis."

On India's role, he said India understands the seriousness of climate change and is moving quickly towards green energy. While meeting the energy and food needs of 140 crore people, India has successfully run the world's fastest-growing renewable energy programme, he said.

Goyal said India is fulfilling its responsibility towards the environment, but developed countries should keep their promises of financial and technical help before imposing their laws on others. After his strong stand in Berlin, the debate on climate finance and fair trade has once again flared up around the world.