India received support from Nigeria which said that the climate finance package was a “joke”. Malawi and Bolivia also lent their support to India respectively, reported PTI.
India on Sunday rejected the climate finance deal which has been agreed upon and adopted at the United Nations COP29 Summit taking place in Azerbaijan’s capital Baku, though the objection was raised post the deal had been adopted.
Indian delegation representative Chandni Raina, while expressing disappointment over the outcome said, “We are disappointed in the outcome which clearly brings out the unwillingness of the developed country parties to fulfill their responsibilities.”
Raina told the closing plenary session of the summit that “I regret to say that this document is nothing more than an optical illusion. This, in our opinion, will not address the enormity of the challenge we all face. Therefore, we oppose the adoption of this document.”
India received support from Nigeria which said that the climate finance package was a “joke”. Malawi and Bolivia also lent their support to India respectively, reported PTI.
Earlier, the developed countries at the COP29 Summit in Baku adopted a $300 billion global finance target to help poorer nations cope with the impacts of climate change. However, the Global South had been demanding $1.3 trillion in the talks from the last three years and $300 billion is a far cry.
The consensus which reached at the 29th Conference of Parties (COP29) to the United Nations Framework Convention on Climate Change (UNFCCC) will see the developed countries helping the developing countries to tackle climate change via $300 billion per year by 2035 and the new amount will replace the $100 billion figure pledged in 2009.
According to PTI, Chandni Raina further stated “$300 billion does not address the needs and priorities of developing countries. It is incompatible with the principle of CBDR (Common but Differentiated Responsibilities) and equity, regardless of the battle with the impact of climate change.”
