On behalf of India, Chandni Raina opposed this climate finance program.
India has rejected a $300 billion climate finance package to help developing countries at the 29th Conference of the Parties (COP29) in Azerbaijan’s capital Baku. India described this amount as far below the needs of developing countries. Chandni Raina, on behalf of the Indian delegation, said: “We are deeply disappointed by this, it clearly shows that developed countries are not willing to take responsibility. We regret to say that this document is only an illusion.
On Sunday, at COP29, it was agreed to give 300 billion dollars each year to developing countries until 2035. Its objective is to encourage developing countries to reduce fossil fuels, to prepare them to cope to climate change and help overcome the damage it causes.
COP29 was organized 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: “In our view, this package will not address the enormous challenge we all face. We oppose its adoption. The $300 billion package does not meet the needs of developing countries. “.
He said: “Developing countries are worst hit by climate change, but there is pressure on them to slow their development and reduce their carbon emissions. Developing countries must also contend with unilateral carbon border adjustment mechanisms created by developed countries.
Nigeria, Malawi and Bolivia support India
Nigeria, Malawi and Bolivia have also supported India on this issue. Nigeria called it a joke. Developing countries have demanded $1.3 trillion each year over the past three meetings. In 2009, a target of $100 billion was set to help lagging countries, an amount now increased to $300 billion.
A 19-member Indian delegation participated.
The conference of the United Nations Framework Convention on Climate Change is known as the Conference of the Parties (COP). At 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 19-member Indian delegation participated in this event. It was headed by Union Minister of State for Environment and Forests Kirti Vardhan Singh.
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