India Demands Clear Climate Finance Commitments at COP29
As COP29 negotiations reach a critical stage, India has called on developed countries for clear commitments regarding the New Collective Quantified Goal (NCQG) for climate finance. Kirti Vardhan Singh, Minister of State for Environment, Forest and Climate Change, emphasized that any NCQG decisions must align with the principles of climate justice and equity, ensuring that the financial needs of developing countries for climate adaptation, mitigation, and loss-and-damage funding are met.
Singh reiterated that developed nations bear a responsibility under the Paris Agreement to provide adequate financial resources to help developing countries, particularly those in the Global South, meet their development goals while also addressing climate challenges. He called for ambitious outcomes that reflect the evolving needs of these nations, noting that the next round of Nationally Determined Contributions (NDCs) is due in 2025.
Addressing historical emissions, Singh reminded developed countries of their duty to take responsibility for past emissions and provide the necessary financial and technological support to developing nations. Referring to the principle of Common but Differentiated Responsibilities and Respective Capabilities (CBDR-RC), he pointed out that the high-emission growth pathways of the Global North have constrained the carbon space available for the Global South.
Despite facing these challenges, Singh highlighted India’s significant climate actions, noting that the country had met its 2015 NDC targets ahead of schedule. He pointed to India’s progress in renewable energy, with its capacity nearly tripling since 2014, and its aim to meet a 500 GW target by 2030. Singh concluded that increasing global climate ambition must be paired with enhanced climate finance and unrestricted access to green technologies for developing nations.
