India rejected a $300 billion climate finance package designed to help developing countries during the 29th Conference of Parties (COP29) in Azerbaijan's capital, Baku. India has described this amount as much less than the requirement of developing countries. Chandni Raina, on behalf of the Indian delegation, said, “We are very disappointed by this, it clearly shows that developed countries are not ready to fulfill their responsibilities.
COP29 on Sunday agreed to give $300 billion a year to developing countries until 2035. It aims to encourage developing countries to reduce fossil fuels, prepare them to cope with climate change and help them mitigate the damage caused by it.
COP29 was held from November 11 to 24 in Baku, the capital of Azerbaijan.
This document is just an illusion Chandni Raina said in the closing session of the meeting that “In our view, this package will not address the huge challenge facing all of us. We oppose its adoption. The $300 billion package does not meet the needs of developing countries.”
He said- Developing countries are the most affected by climate change, but they are being pressured to slow their growth and reduce carbon emissions. Developing countries also have to contend with unilateral carbon border adjustment mechanisms created by developed countries.
Nigeria, Malawi and Bolivia support India Nigeria, Malawi and Bolivia also supported India on this issue. Nigeria called it a joke. Developing countries have been demanding $1.3 trillion per year for the last three meetings. A target of $100 billion was set in 2009 to help underdeveloped countries, which has now been increased to $300 billion.
A delegation of 19 members participated from India The United Nations Framework Convention on Climate Change is known as the Conference of the Parties (COP). During the COP meeting, all countries review the Paris Agreement and conventions and assess international efforts to limit global warming to 1.5 degrees Celsius.
This time the 29th International Conference on Climate Change (COP29) was held in Baku, the capital of Azerbaijan. A delegation of 19 members from India participated in this program. Which was headed by the Union Minister of State for Environment and Forest Kirti Vardhan Singh.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
