India, Aug. 30 -- The world is navigating turbulent times. Conflict continues in West Asia and Ukraine. US trade tariffs loom large over India and global commerce, and China's restriction on rare earth exports disrupts supply chains. Energy security is back on top of national agendas, with several major powers retreating from their climate commitments. In this fragmented world, the multilateral climate regime faces its greatest test yet. At the same time, the climate crisis itself cannot be ignored. News of extreme heat waves and flash floods inundating cities are commonplace across nations.

We are no longer in the world that signed the Paris Agreement in 2015: Not meteorologically, not politically, not economically, or socially. Today, ...