COP29: India, other developing nations demand fair climate finance pledges

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COP29: India, other developing nations demand fair climate finance pledges - Business Standard

Quick Summary:

At the annual climate talks, India negotiates in key groupings such as the Like-Minded Developing Countries (LMDCs), G77 and China, and BASIC (Brazil, South Africa, India, and China), where it aligns with other developing nations to advocate for climate finance, equity, and technology transfer.

India, as part of the Like-Minded Developing Countries bloc, stood firm in calling for equitable financial support from developed nations at the ongoing COP29 climate negotiations, multiple sources from the grouping said here.

Concerns were also raised that nearly 69 per cent of reported finance came in the form of loans adding burdens on the already vulnerable countries.