CoP29: India, LMDC flag lack of progress, unwillingness by some parties to engage on finance
4 months, 2 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 to ensure developing nations take on higher mitigation targets. Let us remember that this is a finance COP and we expect developed countries to deliver,” LMDC said. Mitigation action by developed countries has not been forthcoming, even though the Convention and its Paris Agreement make it clear that the developed countries must take the lead on mitigation, Diego Pacheco, spokesperson of LMDC said.

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History of this topic

India, Brazil could play a key role in shaping climate talks: COP30 President-Designate
1 week, 6 days ago

India, Brazil could play a key role in shaping climate talks: COP30 President-Designate

The Hindu  

With deepening divisions among countries over trade, the exit of the United States from the Paris Agreement, and multiplying disasters from global warming, the President-Designate of the forthcoming climate talks in Belem, Brazil, Andre Lago, a former Ambassador of Brazil to India, said that this was a time that developing countries, including India and Brazil, could play a greater role …

No objection to decision on New Collective Quantified Goal at COP29: Azerbaijan lead negotiator
3 weeks, 1 day ago

No objection to decision on New Collective Quantified Goal at COP29: Azerbaijan lead negotiator

Hindustan Times  

New Delhi: There was no formal objection to the decision on the New Collective Quantified Goal at COP29 in Baku last year, Yalchin Rafiyev, Lead Negotiator for COP29 Azerbaijan said in among the first comments by the organisers on the controversial climax to the talks. HT reported on November 25 that the COP29 climate talks ended in unprecedented acrimony even …

UN climate chief calls India a ‘solar superpower’, urges ambitious climate plan
Trending News
1 month, 2 weeks ago

UN climate chief calls India a ‘solar superpower’, urges ambitious climate plan

Firstpost  

The UN climate chief added that India’s leaders have a rare opportunity to deepen whole-of-economy industrial strategies that would make the fast-developing South Asian nation a dominant force in clean energy and industry UN climate chief Simon Stiell has called India a “solar superpower” and urged it to develop an ambitious climate plan covering its entire economy, saying that an …

Climate goals must align with growth
2 months ago

Climate goals must align with growth

Hindustan Times  

India will prioritise climate adaptation efforts to safeguard its rapid economic expansion, even as decreasing global financial commitments for climate action may force developing nations to rework their targets, according to the Economic Survey tabled in Parliament on Friday. “It is out of sync with the needs of the critical decade when action is required to keep the temperature goals …

India to prioritise adaptation amid decreasing commitments to climate action
Trending News
2 months ago

India to prioritise adaptation amid decreasing commitments to climate action

Hindustan Times  

India will prioritise adaptation efforts to safeguard the country’s rapid economic growth amid decreasing financial commitments for climate action in developing countries that may lead to a reworking of targets, said the Economic Survey tabled in Parliament on Friday. “Lessons learned from the experiences of developed economies underscore the risks of prematurely shutting down thermal energy sources without viable technological …

How the US exit from Paris Climate Accord will hit COP30 funding negotiations
2 months, 1 week ago

How the US exit from Paris Climate Accord will hit COP30 funding negotiations

India Today  

As President Donald Trump pulls the US out of the Paris Climate Accords, experts are concerned about the future of the global climate fight and the urgent funding targets that now seem impossible to be reached. Andre Correa do Lago head of the global COP30 summit, has voiced concerns, saying negotiations will likely be "harder" at the COP30 summit compared …

The end of global climate policy
2 months, 3 weeks ago

The end of global climate policy

The Hindu  

Bringing justice centre stage requires an alternate sustainability forum The climate conference in Baku in 2024 turned the climate treaty on its head by scrapping the defining feature of the post-colonial world divided between ‘donors’ and ‘recipients’ and suggesting the need for an alternate global sustainability forum. Distinguishing between total emissions of countries and trends, drivers, and patterns of natural …

Role of capital markets for raising green and transition finance
2 months, 4 weeks 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 …

The Baku backlash: Why Cop29 needn’t be an irreversible setback for climate change
3 months, 4 weeks ago

The Baku backlash: Why Cop29 needn’t be an irreversible setback for climate change

The Independent  

I remember being captivated as a young man by this bold, Latin American leader called Rafael Correa. When the deadline passed after four years of campaigning, and deposits of only $13.3m had been received, president Correa declared that “the world has failed us” – not so different to the words echoed by the least developed country negotiators last week, who …

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

West’s hypocrisy at COP29: Why Global South must draw the line
4 months ago

West’s hypocrisy at COP29: Why Global South must draw the line

Firstpost  

Perhaps it is time for the Global South to signal its collective agency by exploring a South-South Carbon Adjustment Union. While such a measure may not directly generate significant revenue, it would send a powerful message to the developed world The Global South's call for substantial and immediate financial support has been met with empty promises and token gestures, exposing …

COP29: How $300 billion climate funding is an ‘optical illusion’
4 months 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. …

COP29 in Baku: Oil and money stain climate talks
4 months ago

COP29 in Baku: Oil and money stain climate talks

New Indian Express  

It is indeed ironical the UN Climate Conference, also known as the Conference of Parties, chooses to hold their jamborees in capitals that are the hub of fossil fuel interests. The World, desperately fighting Climate Change and global warming, held its 200-nation gathering in December 2023 in Dubai; and now COP29 has just concluded in Baku, Azerbaijan – the oldest …

COP29 Sees Discord Over Climate Finance as Developed Countries Refuse to Meet Funding Commitments
4 months ago

COP29 Sees Discord Over Climate Finance as Developed Countries Refuse to Meet Funding Commitments

The Hindu  

Published : Nov 29, 2024 20:35 IST - 8 MINS READ When Azerbaijan as the Presidency of this year’s Conference of Parties held at Baku, in Azerbaijan, informed delegates working on extended time that participating countries had arrived at an agreement, there were many who disagreed. While declaring that the developed countries “shall provide financial resources to assist developing country …

COP kicks the climate can down the road, again
4 months ago

COP kicks the climate can down the road, again

Live Mint  

New Delhi: Shorn of negotiator parlance, the latest edition of the Conference of Parties can be summed up with the one-liner from the movie Jerry Maguire: Show me the money. The possibility of the US not paying its fair share means other developed countries have to bear the burden, a reason why they didn’t want to commit to a higher …

Global South's joint climate efforts urged
4 months, 1 week 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
4 months, 1 week 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 …

Contentious COP29 deal shows climate cooperation fraying at edges
4 months, 1 week ago

Contentious COP29 deal shows climate cooperation fraying at edges

India Today  

When COP29 President Mukhtar Babayev stepped to the podium at the closing meeting of the Baku climate summit on Sunday morning, hoping to clinch a hard-fought agreement on global climate finance, he carried with him two speeches. He praised the agreement as a breakthrough and shamed the deal's doubters as "wrong", even as many of the climate deal's intended recipients …

COP29 Agreement Says Someone Should Pay to Help Developing Countries, but Not Who
55 years, 3 months ago

COP29 Agreement Says Someone Should Pay to Help Developing Countries, but Not Who

Wired  

At around 3 am on Sunday morning, in a drained plenary, the gavel slammed to bring COP29 to a close. The conference, whose primary focus was agreeing on a new finance deal to help developing nations with their climate actions, was supposed to end on Friday. The final extra day was marked by drafts, huddles, and bitter clashes behind closed …

What’s the controversial $300 billion COP29 climate deal? Why has it angered India, other developing nations?
4 months, 1 week 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, …

Climate talks end with mere $300 bn pledge
4 months, 1 week 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 …

Why developing nations like India are unhappy about the $300 billion COP29 deal
4 months, 1 week 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. …

COP29 raises climate finance to $300 billion a year, India says 'optical illusion'
4 months, 1 week 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 …

The COP29 climate conference ended in dramatic fashion on Sunday in Baku, Azerbaijan
4 months, 1 week ago

The COP29 climate conference ended in dramatic fashion on Sunday in Baku, Azerbaijan

NPR  

The COP29 climate conference ended in dramatic fashion on Sunday in Baku, Azerbaijan The climate conference ended with a controversial deal that calls for wealthy countries to provide their poorer neighbors with $300 billion annually to help them adapt to more extreme weather. LEILA FADEL, HOST: The COP29 climate conference ended with an agreement on Sunday, which didn't always look …

Inside the Frantic Maneuvers That Saved COP29 Talks at a Cost
Trending News
4 months, 1 week ago

Inside the Frantic Maneuvers That Saved COP29 Talks at a Cost

Live Mint  

-- Negotiations over hundreds of billions of dollars in new climate funding for developing countries had staggered into overtime at COP29 in Azerbaijan. Saudi Arabia’s representative, Albara Tawfiq, said the kingdom opposed bids to “shift” the responsibility for providing climate finance beyond developed countries, shutting down a bid by the EU and US to expand the pool of contributors. Rich …

The climate deal brokered at Cop29 is disappointing – but it is a start
4 months, 1 week ago

The climate deal brokered at Cop29 is disappointing – but it is a start

The Independent  

Although the last-minute agreement on climate finance reached at the Cop29 summit in Baku was branded a “betrayal” of developing countries by campaigners, it was much better than no deal. It was less than they wanted, but the agreement called on all parties to mobilise “all public and private sources” to get closer to the poor nations’ demand for $1.3 …

Cop29 secures last minute $300bn climate finance deal as talks saved from collapse
4 months, 1 week ago

Cop29 secures last minute $300bn climate finance deal as talks saved from collapse

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. open image in gallery Activists participated in demonstrations for climate finance at the Cop29 summit “This deal will keep …

COP29 Climate Finance Deal Collapses as Developed Nations Resist $1.3 Trillion Target
4 months, 1 week ago

COP29 Climate Finance Deal Collapses as Developed Nations Resist $1.3 Trillion Target

The Hindu  

Published : Nov 24, 2024 17:46 IST - 6 MINS READ In the global climate negotiations that continued at the 29th edition of the Conference of Parties in Baku, Azerbaijan, between November 11 and 22, there was agreement on one issue. So, common sense suggests that developed countries, which are responsible for much of the cumulative carbon emissions that have …

Know All About the Historic Climate Funding Deal at COP29
4 months, 1 week ago

Know All About the Historic Climate Funding Deal at COP29

Deccan Chronicle  

At the COP29 climate talks, negotiators from around the world reached a landmark agreement on a new funding deal to support developing nations in addressing the challenges posed by climate change. This deal is seen as a crucial step in the fight against climate change, particularly as developing countries struggle with extreme weather events, rising sea levels, and other climate-related …

COP29 agrees on ’$300billion per year by 2035’ for Global South to fight climate change; India calls it ‘paltry sum…’
4 months, 1 week ago

COP29 agrees on ’$300billion per year by 2035’ for Global South to fight climate change; India calls it ‘paltry sum…’

Live Mint  

COP29: The world reached a new climate deal at the COP29 on Saturday, with wealthy countries committing to provide $300 billion annually by 2035 to assist poorer nations in addressing the growing impacts of the climate crisis. Immediately after the gavel came down, India’s representative, Chandni Raina, condemned the $300 billion pledge as a "paltry sum." However, the $300 billion …

‘Optical illusion’: Key takeaways from COP29 at Baku
Trending News
4 months, 1 week ago

‘Optical illusion’: Key takeaways from COP29 at Baku

Al Jazeera  

Climate finance deal criticised at COP29 as inadequate, lacking real money and clear grants for developing countries. Here are the key takeaways from this year’s summit: ‘No real money on the table’: $300bn climate finance fund slammed While a broader target of $1.3 trillion annually by 2035 was adopted, only $300bn annually was designated for grants and low-interest loans from …

COP29 ends with contentious outcome
4 months, 1 week ago

COP29 ends with contentious outcome

China Daily  

COP29 President Mukhtar Babayev walks during a closing plenary meeting at the COP29 United Nations Climate Change Conference, in Baku, Azerbaijan, Nov 24, 2024. Following two weeks of wrangling between the delegations of developing and developed countries, the COP29 United Nations climate change conference finally concluded, more than 30 hours past its deadline, with the adoption of a climate finance …

COP29: $300 billion climate deal pushed through despite stiff opposition
4 months, 1 week 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 ends with contentious outcome
4 months, 1 week ago

COP29 ends with contentious outcome

China Daily  

By HOU LIQIANG | chinadaily.com.cn | Updated: 2024-11-24 21:44 COP29 President Mukhtar Babayev walks during a closing plenary meeting at the COP29 United Nations Climate Change Conference, in Baku, Azerbaijan, Nov 24, 2024. Following two weeks of wrangling between the delegations of developing and developed countries, the COP29 United Nations climate change conference finally concluded, more than 30 hours past …

COP29 ends with contentious outcome
4 months, 1 week ago

COP29 ends with contentious outcome

China Daily  

COP29 President Mukhtar Babayev walks during a closing plenary meeting at the COP29 United Nations Climate Change Conference, in Baku, Azerbaijan, Nov 24, 2024. Following two weeks of wrangling between the delegations of developing and developed countries, the COP29 United Nations climate change conference finally concluded, more than 30 hours past its deadline, with the adoption of a climate finance …

Cop29 draft deal on verge of collapse as small island nations walk out
4 months, 1 week ago

Cop29 draft deal on verge of collapse as small island nations walk out

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. Read our privacy policy The latest Cop29 draft deal on climate finance is thought to have been firmly rejected …

Finance deadlock pushes COP29 to brink of failure
4 months, 1 week ago

Finance deadlock pushes COP29 to brink of failure

The Hindu  

Despite running into overtime, very little headway had been achieved at the U.N. climate summit in Baku late on Saturday in terms of bringing developed and developing countries any closer to agreeing to a new global financial target, called the New Collective Quantitative Goal, for a moonshot at preventing a runaway rise in global temperatures. ‘Nickels and dimes’ The newest …

COP29 U.N. Summit: Civil society protests against climate finance proposal, calls for 'no deal' over 'bad deal'
4 months, 1 week ago

COP29 U.N. Summit: Civil society protests against climate finance proposal, calls for 'no deal' over 'bad deal'

The Hindu  

Civil society members staged a silent march at the U.N. climate summit, condemning the developed nations' proposal to increase annual climate finance to a meagre $250 billion by 2035. With their arms crossed in defiance, protesters walked silently through the summit venue, where chanting is prohibited "We urge you to stand up for the people of the Global South, and …

COP29 ends in a $1.3 trillion disappointment. But there may still be hope
4 months, 1 week ago

COP29 ends in a $1.3 trillion disappointment. But there may still be hope

Live Mint  

New Delhi: The 29th edition of the UN climate change conference in Azerbaijan emerged from a deadlock with an annual climate finance goal of $1.3 trillion for developing countries, much to the disappointment of the Global South. The second goal mentions that developed countries must take the lead in mobilising $250 billion per year by 2035 for climate action by …

COP29 UN climate talks wrap up in Baku
4 months, 1 week ago

COP29 UN climate talks wrap up in Baku

China Daily  

A night view shows the venue of the United Nations climate change conference, known as COP29, in Baku, Azerbaijan, Nov 11, 2024. The COP29 United Nations climate change negotiations stumbled toward Friday's deadline, with a draft target of climate finance to developing nations falling far short of expectations. A key task of the UN gathering, which kicked off on Nov …

Developing nations say $300bn COP29 deal not enough after agreement
4 months, 1 week ago

Developing nations say $300bn COP29 deal not enough after agreement

Al Jazeera  

Host Azerbaijan calls for consensus after delegations from developing countries walk out of climate finance talks. Negotiators at the United Nations climate talks agreed on a $300bn target to help developing nations adapt to climate change, but many poorer nations have dismissed the agreement as insufficient. When asked if the walkout was a protest, Colombia Environment Minister Susana Mohamed told …

COP29 UN climate talks wrap up in Baku
4 months, 1 week ago

COP29 UN climate talks wrap up in Baku

China Daily  

A night view shows the venue of the United Nations climate change conference, known as COP29, in Baku, Azerbaijan, Nov 11, 2024. The COP29 United Nations climate change negotiations stumbled toward Friday's deadline, with a draft target of climate finance to developing nations falling far short of expectations. A key task of the UN gathering, which kicked off on Nov …

COP29: World agrees to climate deal on financial aid for poor countries after summit nearly implodes
4 months, 1 week ago

COP29: World agrees to climate deal on financial aid for poor countries after summit nearly implodes

CNN  

CNN — The world agreed to a new climate deal at COP29 in Baku, Azerbaijan, Saturday, with wealthy countries pledging to provide $300 billion annually by 2035 to poorer countries to help them cope with the increasingly catastrophic impacts of the climate crisis — a figure many developing countries criticized as vastly insufficient. “This new finance goal is an insurance …

COP29 talks extended as draft $250 billion finance offer flops
Trending News
4 months, 1 week ago

COP29 talks extended as draft $250 billion finance offer flops

Hindustan Times  

Baku: The COP29 climate summit was extended by a day after developing nations reacted with fury to developed countries’ proposal of $250 billion annual climate finance by 2035, calling it “a slap in the face” and far below their demand of $1.3 trillion, raising fears of a Copenhagen-like deadlock. “The quantum is an eyewash,” said a developing country negotiator, noting …

COP29: Baku climate talks run into overtime amid row over climate finance
4 months, 1 week 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 …

India at CoP-29: Push for climate finance and strengthen domestic sources
4 months, 1 week ago

India at CoP-29: Push for climate finance and strengthen domestic sources

Live Mint  

As CoP-29 reaches its final phase of talks in Baku, Azerbaijan, the focus on climate finance has intensified, underscoring its importance for developing economies like India. At the heart of this effort lies India’s domestic financial sector, particularly its banks, which are the largest source of climate finance outside of the government. Banks can embed climate risk into their broader …

COP29: Nations commit to 1.5°C pathway with enhanced climate goals
4 months, 1 week ago

COP29: Nations commit to 1.5°C pathway with enhanced climate goals

India Today  

In a landmark announcement at the COP29 summit in Baku, a coalition of nations representing 30% of global GDP and 15% of greenhouse gas emissions committed to strengthening their Nationally Determined Contributions to align with the 1.5°C global warming threshold. The United Kingdom, Brazil, and the United Arab Emirates led the charge with ambitious NDC targets for 2035, signaling their …

COP29 Baku: What is climate finance, and the relevance of Baku summit
4 months, 1 week ago

COP29 Baku: What is climate finance, and the relevance of Baku summit

India Today  

While it is centred on negotiation, the first week of COP29 has concluded without any significant progress on climate finance, especially negotiations about a new climate finance goal due to concerns about equitable responsibility for climate action. This means that countries that have been historically responsible for carbon emissions and in turn, climate change, should contribute a lion’s share of …

COP29 climate financing negotiations in stalemate
4 months, 1 week ago

COP29 climate financing negotiations in stalemate

China Daily  

The COP29 United Nations climate change conference went into a stalemate on Friday, its scheduled conclusion date, with key concerns from developing countries largely unaddressed. A key task of the UN gathering, which kicked off on Nov 11 in Baku, Azerbaijan, is to establish a post-2025 climate finance commitment from developed nations to developing countries, building on the previous pledge …

COP29 climate financing negotiations in stalemate
4 months, 1 week ago

COP29 climate financing negotiations in stalemate

China Daily  

The COP29 United Nations climate change conference went into a stalemate on Friday, its scheduled conclusion date, with key concerns from developing countries largely unaddressed. A key task of the UN gathering, which kicked off on Nov 11 in Baku, Azerbaijan, is to establish a post-2025 climate finance commitment from developed nations to developing countries, building on the previous pledge …

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