What TV doesn't, print can't; we deliver.
What TV doesn't, print can't; we deliver.
As the world gathers for the 29th session of the UN climate conference (COP29) in Baku, India is poised to play a pivotal role in advocating for a more transparent and predictable climate finance framework. The urgency of this call cannot be overstated, given the escalating climate crisis and the critical need for substantial financial support to developing nations.
India’s environment secretary has underscored the importance of transparency and predictability in climate finance mechanisms. This is crucial for ensuring that funds are mobilized effectively and reach the countries that need them the most. The current climate finance landscape is marred by ambiguity and inconsistency, which hampers the ability of developing nations to plan and implement their climate actions.
One of the key objectives at COP29 is to establish a new post-2025 finance goal, aiming to raise the annual climate finance from $100 billion to $1 trillion. This ambitious target reflects the scale of the challenge ahead. However, achieving this goal requires a concerted effort from developed nations, who have historically fallen short of their financial commitments. India’s stance is clear: the principles of the UN Convention and the Paris Agreement must guide the finalization of the NCQG, ensuring that developed countries take the lead in providing financial support.
India’s approach to climate negotiations is rooted in the principle of equity and common but differentiated responsibilities (CBDR). This principle acknowledges the historical emissions of developed nations and their greater capacity to provide financial and technological support. At COP29, India will advocate for decisions that reflect these principles, ensuring that the burden of climate action does not disproportionately fall on developing countries.
The road to a new climate finance goal is fraught with challenges. The recent election of Donald Trump, who has been critical of the Paris Agreement, adds a layer of uncertainty to the negotiations. Despite these challenges, India remains committed to engaging constructively in all negotiations, safeguarding its key interests while promoting global climate justice.
