Boost Green Capex With 'Climate Deficit' to Reverse India's GDP Slowdown
1 month, 1 week ago

Boost Green Capex With 'Climate Deficit' to Reverse India's GDP Slowdown

The Quint  

However, in terms of social or political outcomes, inflation is not a statistical idea based on indices rising up from a base year but a lived experience called price rise. Developing countries, especially India, saw a grand failure in the inability of developed countries to sufficiently increase the funding to decelerate climate change. While the COP29 attended by delegates from 198 nations agreed on a deal to provide $300 billion in annual climate finance by 2035, India described it as only an optical illusion though the agreement is a jump from the previous commitment of developed countries to provide $100 billion per year by 2020. It doesn't help that climate change sceptics or deniers are at the forefront of the economic thought process in US President-elect Donald Trump's administration set to take charge in January.

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History of this topic

Role of capital markets for raising green and transition finance
6 days, 5 hours ago

Role of capital markets for raising green and transition finance

Hindustan Times  

The climate crisis is a global commons problem requiring concerted actions by all. While recognising this, the United Nations Framework Convention on Climate Change has also acknowledged the principle of ‘common but differentiated responsibilities and respective capabilities,’ which assigns greater responsibilities to developed countries in mitigating greenhouse gas emissions and reducing their carbon footprint. Green finance India is a vast …

Climate change is now a real and pressing economic threat
2 weeks, 4 days ago

Climate change is now a real and pressing economic threat

Live Mint  

New Delhi: Climate change is no longer just affecting lives. “We must reduce emissions because a country like India needs a stable climate to ensure growth. Cross-border tariffs Climate change may disrupt global trade and economic development around as developed economies in the European Union are coming up with measures like the Carbon Border Adjustment Mechanism, a policy tool to …

COP29: How $300 billion climate funding is an ‘optical illusion’
1 month, 1 week ago

COP29: How $300 billion climate funding is an ‘optical illusion’

Firstpost  

Much of the funding relies on mobilising private finance, which often translates to loans rather than grants. Nations already grappling with crippling debt burdens face the prospect of trading financial solvency for climate action A demonstrator displays hands that reads "pay up" during a protest for climate finance at the COP29 UN Climate Summit, November 23, 2024, in Baku, Azerbaijan. …

Global South's joint climate efforts urged
1 month, 2 weeks ago

Global South's joint climate efforts urged

China Daily  

COP29 President Mukhtar Babayev walks during a closing plenary meeting at the COP29 United Nations Climate Change Conference, in Baku, Azerbaijan, November 24, 2024. Developing countries need to form a Global South alliance that will strengthen climate commitments and pressure industrialized nations to fulfill their "historical responsibility" to finance mitigation and adaptation efforts, according to participants in this year's climate …

India’s stand against inadequate climate finance at COP29
1 month, 2 weeks ago

India’s stand against inadequate climate finance at COP29

Hindustan Times  

The Conference of Parties 29 climate summit in Baku, Azerbaijan, ended on a dramatic note as negotiators announced a pledge to triple annual climate finance to $300 billion by 2035, with an aspirational target of $1.3 trillion. Therefore, we oppose the adoption of this document.” India’s rejection of the climate finance package came in the face of celebration by developed …

What’s the controversial $300 billion COP29 climate deal? Why has it angered India, other developing nations?
1 month, 2 weeks ago

What’s the controversial $300 billion COP29 climate deal? Why has it angered India, other developing nations?

Firstpost  

The tumultuous COP29, the UN climate summit, concluded in Azerbaijan’s Baku after talks continued until early Sunday. Developed nations forced a deal agreeing to provide $300 billion a year to the developing world from 2035 in climate finance. Developed nations forced an agreement promising to put together $300 billion a year from 2035 in climate finance. Mukhtar Babayev, COP29 President, …

COP29 raises climate finance to $300 billion a year, India says 'optical illusion'
1 month, 2 weeks ago

COP29 raises climate finance to $300 billion a year, India says 'optical illusion'

India Today  

After a complex negotiation at the climate finance in Baku during COP 29, countries adopted a $300 billion a year global finance target on Sunday to help poorer nations cope with the impacts of climate change. As per the final official draft by UNFCC, the central focus of COP 29 was on bringing together nearly 200 countries in Baku and …

Why developing nations like India are unhappy about the $300 billion COP29 deal
1 month, 2 weeks ago

Why developing nations like India are unhappy about the $300 billion COP29 deal

India Today  

The $300 billion annual climate finance deal agreed upon at COP29 in Baku has sparked significant dissatisfaction among developing nations, who deem the amount insufficient to address the escalating impacts of climate change. Developing countries argue that the $300 billion target, set to be achieved by 2035, falls short of the actual financial needs required to combat climate change effectively. …

Climate talks end with mere $300 bn pledge
1 month, 2 weeks ago

Climate talks end with mere $300 bn pledge

New Indian Express  

The United Nations Climate Change Conference in Baku concluded on Sunday amid high drama with the adoption of a controversial agreement to triple climate finance for developing countries to $300 billion annually by 2035 as against the $1.3 trillion sought by developing countries per year until 2030. The process and the amount agreed upon faced strong opposition from India and …

COP29: $300 billion climate deal pushed through despite stiff opposition
1 month, 2 weeks ago

COP29: $300 billion climate deal pushed through despite stiff opposition

New Indian Express  

BAKU: The United Nations climate summit in Baku on Sunday concluded amidst high drama with the adoption of a controversial agreement to triple climate finance for developing countries to $300 billion annually by 2035. Chandni Raina, adviser to the Department of Economic Affairs and part of India’s negotiating team, criticised the agreement for failing to address the urgent needs of …

COP29: Baku climate talks run into overtime amid row over climate finance
1 month, 2 weeks ago

COP29: Baku climate talks run into overtime amid row over climate finance

The Hindu  

Climate talks at Azerbaijan’s Baku, scheduled to end on Friday, were extended by another day after the latest version of the draft agreement was deemed unacceptable by several developing countries. The developed countries offered no more than $250 billion by 2035 as the New Collective Quantified Goal for Climate Finance despite acknowledging that at least $700 billion would be needed …

Cop29: The trillion-dollar question that has left climate summit at an impasse
1 month, 3 weeks ago

Cop29: The trillion-dollar question that has left climate summit at an impasse

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. The New Collective Quantified Goal on Finance, which will fund the climate disaster and prevention-related costs in developing countries, …

Big money to respond to climate change is key to UN talks in Baku. How can nations raise it?
1 month, 3 weeks ago

Big money to respond to climate change is key to UN talks in Baku. How can nations raise it?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Climate cash could be in the form of loans, …

Big money to respond to climate change is key to UN talks in Baku. How can nations raise it?
1 month, 3 weeks ago

Big money to respond to climate change is key to UN talks in Baku. How can nations raise it?

New Indian Express  

Climate cash could be in the form of loans, grants or private investment Experts put the need closer to $1 trillion, while developing nations have said they'll need $1.3 trillion in climate finance. “That's a big lever,” said Melanie Robinson, global climate economics and finance director at World Resources Institute. For developing nations, the talk of loans brings fear of …

Global South faces climate burden: India highlights challenges at COP29
1 month, 3 weeks ago

Global South faces climate burden: India highlights challenges at COP29

India Today  

At the ongoing COP29 summit in Baku, Azerbaijan, India's Minister of State for Environment, Kirti Vardhan Singh, highlighted the critical juncture at which the global community stands in its collective fight against climate change. Speaking on behalf of the Global South, Singh pointed the disproportionate burden faced by developing nations due to climate change. Kirti Vardhan Singh also reiterated that …

Finance goal at centre of Baku COP29 crisis
1 month, 3 weeks ago

Finance goal at centre of Baku COP29 crisis

Hindustan Times  

New Delhi: With no progress made in week 1, the COP29 Presidency decided that ministers from Egypt and Australia will conduct consultations on the structure, contributors, and overall “quantum” of the new finance goal. According to developing countries including India, developed countries are pushing for higher mitigation goals without a commitment or even an indication of the quantum of the …

India Voices Concern Over Climate Finance at CoP29 Baku Talks
1 month, 3 weeks ago

India Voices Concern Over Climate Finance at CoP29 Baku Talks

Deccan Chronicle  

New Delhi: India on Sunday expressed serious concern about the progress by the developed countries to engage in a climate finance and mitigation work programme at CoP29 in Baku, Azerbaijan. However, India asserted that those with the highest capacity to take climate action have continuously shifted goalposts, delayed climate action, and consumed a highly disproportionate share of the global carbon …

India calls out developed countries over stalled progress on climate issues at COP29
1 month, 3 weeks ago

India calls out developed countries over stalled progress on climate issues at COP29

Live Mint  

New Delhi: At the ongoing 29th Conference of the Parties climate conference in Azerbaijan's capital Baku, India expressed dissatisfaction with the insistence of developed countries to expand the scope of the Mitigation Ambition and Implementation Work Programme from what was agreed upon in the past. India, on behalf of like-minded developing countries, on Thursday said that developed countries need to …

CoP29: India, LMDC flag lack of progress, unwillingness by some parties to engage on finance
1 month, 3 weeks ago

CoP29: India, LMDC flag lack of progress, unwillingness by some parties to engage on finance

Hindustan Times  

Baku: India and the Like Minded Developing Countries among other developing country parties made statements late on Saturday night during the closing plenary, as week 1 of COP29 came to an end, calling out lack of progress in finance talks. LMDC, a group of around 24 developing countries, including India, also raised the same concerns--that of pressure from developed nations …

India pitches for $1.3 trillion in annual climate support for developing nations
1 month, 3 weeks ago

India pitches for $1.3 trillion in annual climate support for developing nations

Live Mint  

Intervening on behalf of like-minded developing countries, India said that developed countries need to commit to provide and mobilise at least $1.3 trillion every year in the New Collective Quantified Goal till 2030. Developing countries require up to $1.5 trillion a year for their unique climate needs and net zero transition, according to various estimates. Also Read: COP29 stresses global …

'Out of sync': The trillion-dollar climate puzzle that's become a diplomatic nightmare
1 month, 3 weeks ago

'Out of sync': The trillion-dollar climate puzzle that's become a diplomatic nightmare

BBC  

'Out of sync': The trillion-dollar climate puzzle that's become a diplomatic nightmare Getty Images As countries negotiate a new global goal to raise climate cash, these five charts show why discussions are so fraught. "Developing countries eager to act are facing many obstacles: scant public finance; raging cost of capital; crushing climate disasters; and debt servicing that soaks up funds," …

High-level report calls for $1 trillion boost in climate finance at COP29
1 month, 4 weeks ago

High-level report calls for $1 trillion boost in climate finance at COP29

India Today  

As the COP29 climate summit continues in Baku, a new report highlights an urgent call for climate finance to meet critical global targets. Published by an independent high-level expert group, the report recommends mobilising $1 trillion annually for developing countries by 2030, a move that would help address climate challenges under the Paris Agreement. The group aims to support policy …

COP29 Baku: What is on the agenda?
1 month, 4 weeks ago

COP29 Baku: What is on the agenda?

India Today  

The 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change – the annual U.N. climate summit – has kicked off in Azerbaijan’s capital, Baku. The COP will also discuss long-term climate finance, as well as annual reports of the Green Climate Fund and the Global Environmental Facility. Other important elements on the agenda …

COP29 president says New Collective Quantified Goal ‘top priority’
2 months ago

COP29 president says New Collective Quantified Goal ‘top priority’

Hindustan Times  

The UN Climate Meeting in Azerbaijan’s Baku opened with the Presidency laying down its expectations before delegates from 196 countries ad stating that its top priority is to agree on a fair and ambitious New Collective Quantified Goal on climate finance. He also referred to a “realistic goal” of mobilising hundreds of billions from the public sector as against trillions …

Developed countries should walk the talk on climate
2 months ago

Developed countries should walk the talk on climate

China Daily  

Driven by nations who've already been hit hard by climate change, there's been a growing consensus that global efforts must be intensified to elevate climate ambitions in order to restrict the rise in temperature this century to well below 1.5 C, thus preventing catastrophic irreversibility. They underscore the critical importance of COP29 in Baku, Azerbaijan, where establishing a New Collective …

Developed countries should walk the talk on climate
2 months ago

Developed countries should walk the talk on climate

China Daily  

Driven by nations who've already been hit hard by climate change, there's been a growing consensus that global efforts must be intensified to elevate climate ambitions in order to restrict the rise in temperature this century to well below 1.5 C, thus preventing catastrophic irreversibility. They underscore the critical importance of COP29 in Baku, Azerbaijan, where establishing a New Collective …

India to focus on climate finance, accountability, protection for vulnerable communities at COP29
2 months ago

India to focus on climate finance, accountability, protection for vulnerable communities at COP29

The Hindu  

As world leaders and climate negotiators converge on Baku for COP29, beginning Monday, India is set to bring renewed focus to the urgent need for climate finance, accountability, and protection for vulnerable communities. India’s key priorities at the conference are likely to focus on ensuring accountability of developed nations on climate finance, strengthening resilience for vulnerable communities, and achieving an …

Ahead of COP29, India to emphasise Paris Agreement red lines on climate finance
2 months ago

Ahead of COP29, India to emphasise Paris Agreement red lines on climate finance

The Hindu  

With the 29th edition of the Conference of Parties expected to commence in Baku, India is expected to stick to its stance of getting developed countries to increase climate finance – a broad term for money for adapting to the impacts of climate change – but without deviating from the principles agreed to in the Paris Agreement text. In COP15 …

Can $1 trillion in climate finance be achieved amid political hurdles
2 months ago

Can $1 trillion in climate finance be achieved amid political hurdles

New Indian Express  

CHENNAI: The World Meteorological Organisation has declared that 2024 is on track to be the warmest year on record, which means it will be the first year of more than 1.5 degrees Celsius warming above pre-industrial levels. It is the most consequential of climate summits since the Paris Agreement as the discussions are set to address the New Collective Quantified …

India's push for $1 trillion in climate finance to take centre stage at COP29
2 months ago

India's push for $1 trillion in climate finance to take centre stage at COP29

India Today  

With just days left until the United Nations Climate Change Conference begins in Azerbaijan, negotiators have yet to clearly outline a deal for a new climate finance goal. India has emphasised that developed nations need to provide at least $1 trillion annually for climate finance, as stated in the G20 New Delhi Declaration. The new financing goal will support developing …

India's climate policies expected to reduce CO2 emissions by around 4 billion tonnes by 2030: Report
2 months ago

India's climate policies expected to reduce CO2 emissions by around 4 billion tonnes by 2030: Report

The Hindu  

India's current climate policies are projected to reduce carbon dioxide emissions by around four billion tonnes between 2020 and 2030, and drive a 24% reduction in coal-based power generation, according to a new report. The study by Delhi-based independent think tank Council on Energy, Environment and Water said policies for India's power, residential and transport sectors have already saved 440 …

Climate Crisis: Can COP29 Break the Cycle of Broken Promises?
2 months, 1 week ago

Climate Crisis: Can COP29 Break the Cycle of Broken Promises?

Live Mint  

The 2024 Emissions Gap Report paints a grim picture of global climate progress, with emissions continuing to rise and the gap between climate targets and reality widening. The report emphasizes the need for immediate action on climate finance, emissions reduction, and accountability. It highlights the responsibility of wealthy nations to fulfill their financial and emissions reduction promises, particularly to support …

Climate Crisis: World Paying a Terrifying Price for Inaction, UN Warns
2 months, 2 weeks ago

Climate Crisis: World Paying a Terrifying Price for Inaction, UN Warns

Al Jazeera  

UN Secretary-General Antonio Guterres has warned that current climate policies will result in global warming of more than 3 degrees Celsius (5.4 degrees Fahrenheit) by the end of the century. The report also finds that the world faces as much as 3.1C (5.6F) of warming above pre-industrial levels by 2100 if governments do not take greater action on slashing planet-warming …

Broken promise
4 months ago

Broken promise

New Indian Express  

CHENNAI: As the COP29 negotiations draw closer, the climate finance gap between developed and developing nations remains a major hurdle, casting a shadow over the upcoming summit. With less than three months to go, the pressure is mounting on wealthier countries to make good on their promises and agree to a new climate finance goal that adequately supports vulnerable nations …

India provided more climate funds than many rich nations; US, UK failed to contribute fair share: Report
4 months ago

India provided more climate funds than many rich nations; US, UK failed to contribute fair share: Report

India TV News  

New Delhi: India contributed USD 1.28 billion in climate finance through multilateral development banks in 2022, surpassing the contributions of many developed countries, according to a new analysis. India provided USD 1.287 billion in climate finance to other developing countries through MDBs in 2022, a sum larger than what was contributed by some developed countries like Greece, Portugal, Ireland and …

Economic Survey 2023-24: Balancing growth and green goals a tightrope walk for India
5 months, 2 weeks ago

Economic Survey 2023-24: Balancing growth and green goals a tightrope walk for India

The Hindu  

India's path to sustainable development is fraught with challenges, as the country grapples with the twin imperatives of meeting burgeoning energy demands and reducing carbon emissions, the Economic Survey 2023-24 revealed on July 22. Tabled in the Parliament, the Survey underscores the complexities of India's green transition, emphasizing the need for a diversified energy portfolio to achieve ambitious growth targets …

Budget 2024: Can India become a $7 trillion economy by 2030?
11 months, 1 week ago

Budget 2024: Can India become a $7 trillion economy by 2030?

India Today  

A recent review report released by the government has estimated India's potential economic trajectory, aiming to hit the $7 trillion mark by 2030, ahead of the upcoming Interim Budget 2024-25. "India's unwavering commitment to ensuring steady economic growth is generating resources for investment needed for climate change adaptation, building resilience, and mitigating emissions,' the Finance Ministry report said. The report …

Fund to compensate developing nations for climate change is unfinished business at COP28
1 year, 1 month ago

Fund to compensate developing nations for climate change is unfinished business at COP28

Associated Press  

NEW DELHI — Sunil Kumar watched helplessly in July as his home and 14 others were washed away by intense monsoon rains lashing the Indian Himalayas. Developing nations had long sought to address the problem, and finally broke through with an agreement at last year’s annual United Nations climate talks, known as COP27, to create what’s known as a loss …

Over-emitting nations owe India $1,446 per capita until 2050 as climate compensation: study
1 year, 7 months ago

Over-emitting nations owe India $1,446 per capita until 2050 as climate compensation: study

The Hindu  

Economically developed countries such as the U.S. and Germany are responsible for 90% of the excessive carbon dioxide emissions and could be liable to pay a total of $170 trillion as compensation to low-emitters like India to ensure climate change targets are met by 2050, says a a new study. `Net zero’ by 2050 The researchers, from the University of …

Budget and green growth: significant focus on government investment
1 year, 11 months ago

Budget and green growth: significant focus on government investment

The Hindu  

Arindam Guha As part of its 2022 Nationally Determined Contribution goals, India has committed to a number of ambitious objectives such as reducing GDP emissions intensity by 45% from 2005 levels by 2030, increasing its renewables capacity to 500 GW by 2030 and achieving net zero status by 2070. Some of the key initiatives for achieving these goals are around …

Economic Survey 2022-23 | India needs global finance to achieve climate goals
1 year, 11 months ago

Economic Survey 2022-23 | India needs global finance to achieve climate goals

The Hindu  

For India to meet its international “obligations” on curtailing greenhouse gas emissions, it must have access to “on-time” climate finance, technology, and access to critical minerals. Advanced economies ought to set examples of policy and “behavioural changes” that work in their countries and only then could they be emulated in developing countries, the Economic Survey said on Tuesday in a …

Developed world hasn't acted on $100bn/year climate finance pledge; multilateral financial bodies need to be transformed: Amitabh Kant
1 year, 11 months ago

Developed world hasn't acted on $100bn/year climate finance pledge; multilateral financial bodies need to be transformed: Amitabh Kant

The Hindu  

India's G20 sherpa Amitabh Kant on January 30 said the developed world has not helped the developing countries with $100 billion of climate finance per year, despite committing to it way back in 2009. Explained | All about the G20: History of the forum and India’s presidency "If India has to go for climate change, the developed world has to …

COP27 and the ambiguity about responsibility
2 years, 1 month ago

COP27 and the ambiguity about responsibility

The Hindu  

This year, at COP27 in Egypt, a dizzying array of topics was on the table for discussion — from the more familiar emissions reductions to the more detailed rules to govern carbon markets. And as scientists today are able to attribute these events to climate change, and derivatively, to greenhouse gas emissions, developing countries maintain that developed countries should inherit …

Can poor countries afford to go green?
2 years, 1 month ago

Can poor countries afford to go green?

The Hindu  

The 27th United Nations Climate Change Conference concluded on November 20 in Sharm el-Sheikh Egypt. Nearly 200 countries pledged to set up a ‘loss and damage fund’ to help vulnerable countries affected by climate change. How can poor countries weigh the cost of climate change against the economic cost of cutting down on fossil fuel use? COP27 | India hails …

Sunanda K. Datta-Ray | Deal on climate, but hard decisions put off till 2023
2 years, 1 month ago

Sunanda K. Datta-Ray | Deal on climate, but hard decisions put off till 2023

Deccan Chronicle  

Hearing Gianni Infantino, Fifa’s Swiss-born ethnic Italian president, declare “I think for what we Europeans have been doing the last 3,000 years, we should be apologising for the next 3,000 years before starting to give moral lessons to people”, millions of TV watchers worldwide may have wondered if it was the moment of truth, the epiphany that would erase the …

Did the world make progress on climate change? Here's what was decided at global talks
2 years, 1 month ago

Did the world make progress on climate change? Here's what was decided at global talks

NPR  

Did the world make progress on climate change? Sponsor Message World leaders did not agree to phase down fossil fuels Many nations arrived at the talks with the hope of keeping "1.5 degrees alive." Enlarge this image toggle caption Peter Dejong/AP Peter Dejong/AP Money promised years earlier is still missing for developing nations Wealthier countries said in 2009 that they …

Attempts being made to forget rich nations' historical contribution: India at COP27
2 years, 1 month ago

Attempts being made to forget rich nations' historical contribution: India at COP27

The Hindu  

Rich nations are making a push to include language such as "major emitters and "top emitters" in the cover text of the ongoing UN climate summit in Egypt which is not acceptable to India, a member of the Indian delegation said. Developed countries want that all top emitters, particularly the top 20 including India and China, make intense emission cuts …

Distinct attempt being made to forget rich nations' historical contribution: India at COP27
2 years, 1 month ago

Distinct attempt being made to forget rich nations' historical contribution: India at COP27

The Hindu  

The progress on key issues at the ongoing U.N. climate summit has not been good due to the divergence of views on some fundamental approaches to climate issues, India said on Wednesday. Union Environment Minister Bhupender Yadav said there is a distinct attempt to "forget or overlook" historical contributions and responsibilities of developed nations. Mr. Yadav said India is co-leading …

5 questions over India's emission plan at COP27
2 years, 1 month ago

5 questions over India's emission plan at COP27

Live Mint  

The strategy focuses on low-carbon electricity and transport systems, low-emission industrial systems, carbon mitigation technologies, energy-efficient urban infrastructure, enhanced forest cover, and the economic and financial aspects of low-carbon development. India is a signatory to the Paris Agreement, under which countries must formulate and communicate long-term low greenhouse gas emission development strategies, taking into account their common but differentiated responsibilities …

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