India said that global action on climate change is contingent on the delivery of timely adequate finance. It stressed on the need for considerable increase in the scope, scale and speed of climate finance. In its statement at the first High-Level Ministerial Dialogue on Climate Finance under the CMA at COP 26, India said the resources mobilized must be new and additional, climate-specific with emphasis on public finance. It said the resource flow should be equally available for mitigation and adaptation considering the importance of adaptation for developing countries.<br />''<br />''<span style="color: #222222;">COP 21 decision mandates that Parties shall before 2025 set a new collective quantified goal from a floor of 100 billion dollars per year. India said it expects that COP 26 would put in place structured process to arrive at an ambitious new collective quantified goal.</span><br />