COP27 and the ambiguity about responsibility
2 years, 4 months 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 the resultant responsibility and liability. Developing countries feared a dilution of attention to developed country obligations, while developed countries argue that this Article can play a transformative role in mobilising the trillions actually needed to respond to climate change. Carbon markets are also increasingly featuring in just energy transition partnerships, which are emerging as avenues for developed countries to quickly channel finance to developing countries transitioning towards clean energy systems. While developing countries at COP27 wanted to focus on the public finance that developed countries should provide, the finance conversation is becoming multi-stranded and spreading to arenas outside formal negotiating channels.

Finance India Markets Climate Climate Action Developing Climate Finance Developing Countries Emissions Countries Responsibility Developed Developed Countries Carbon Markets Cop27  countries  cop27  finance  climate  markets  developing  responsibility  emissions  d  l  developed  ambiguity

History of this topic

India, Brazil could play a key role in shaping climate talks: COP30 President-Designate
1 week, 3 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 …

Bridging the gaps in public finance for climate adaptation
2 weeks, 3 days ago

Bridging the gaps in public finance for climate adaptation

Hindustan Times  

The current gap in global adaptation finance for developing countries is estimated at $194-366 billion per year. The brief also examines innovative approaches to expand adaptation finance beyond traditional public funding, particularly in developing countries, where climate vulnerabilities are highest. The two-year work programme was carried out by two technical bodies that support the Meeting of Parties to the Paris …

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 …

A role for India in South-South climate cooperation
1 month, 2 weeks ago

A role for India in South-South climate cooperation

The Hindu  

COP29, at Baku, Azerbaijan, aptly referred to as the ‘Climate Finance COP,’ has played a crucial role in operationalising core elements of Article 6 of the Paris Agreement. India’s prior experience with the Clean Development Mechanism, voluntary carbon market, Energy Saving Certificates and Renewable Energy Certificates, has laid the groundwork for effective engagement with international carbon markets under Article 6.2, …

Climate goals must align with growth
1 month, 4 weeks 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 …

US, India, and ‘Green Divide’: America cannot be left unhooked
2 months, 1 week ago

US, India, and ‘Green Divide’: America cannot be left unhooked

Firstpost  

If Donald Trump believes the Paris Agreement is unfair, then he can choose to not be a party to it and, at the same time, choose to financially contribute to developing countries that are willing to work on carbon emissions mitigation The United States, the world’s largest producer of oil and gas, will continue to expand production, solidifying its position …

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, 3 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 …

COP29, climate finance and its optical illusion
2 months, 4 weeks ago

COP29, climate finance and its optical illusion

The Hindu  

Finance has been a major point of climate change negotiation since the launching of the United Nations-led climate change negotiations in 1991, producing the United Nations Framework Convention on Climate Change 1992. The $100 billion mark, met by the developed countries only in 2022, does not match the growing needs of climate finance corresponding to the developing countries’ nationally determined …

Developed countries spent more on fossil fuel subsidies in 2023 than new climate finance package
3 months, 1 week ago

Developed countries spent more on fossil fuel subsidies in 2023 than new climate finance package

Live Mint  

New Delhi, Dec 19 Developed countries spent USD 378 billion subsidising fossil fuels in 2023, surpassing the USD 300 billion they have collectively committed to provide annually to the developing world by 2035 to tackle climate change, according to the latest data. The data revealed that 23 developed nations -- mandated under the UN climate convention to provide climate finance …

Climate myopia: This year’s CoP was a big disappointment but small surprise
3 months, 3 weeks ago

Climate myopia: This year’s CoP was a big disappointment but small surprise

Live Mint  

The 29th Conference of the Parties to Climate Change came to an end on 24 November 2024 with deep disappointment on the outcomes—not just on finance, but on most other aspects of the agenda. With grossly inadequate mitigation of the crisis, the climate finance that developing countries can legitimately asl for will increase exponentially, leading to continued disappointment from a …

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

Would have liked to see more engagement among nations on climate change, says German Envoy
4 months ago

Would have liked to see more engagement among nations on climate change, says German Envoy

New Indian Express  

NEW DELHI: The German Ambassador to India Dr Philipp Ackermann on Wednesday said that the recently concluded COP 29 has been reduced to the question of financing, while Germany would have liked to see more engagement amongst nations. It would be pertinent now to think how you take it from there to the next level and that means in the …

Global South's joint climate efforts urged
4 months 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 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 …

COP29 Agreement Says Someone Should Pay to Help Developing Countries, but Not Who
55 years, 2 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 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'
4 months 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
4 months 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
4 months 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 climate deal worth £240BILLION is finally struck but excludes China - as developing countries say the sum is 'too little, too late'
4 months ago

Cop29 climate deal worth £240BILLION is finally struck but excludes China - as developing countries say the sum is 'too little, too late'

Daily Mail  

Wealthy countries yesterday agreed to triple the amount of aid they pay to developing nations to tackle climate change in a last-minute deal at the Cop29 summit. But climate groups labelled the funding agreement, designed to help developing nations combat global warming and to modernise their economies, a ‘drop in the ocean’ of rising seawaters. Yalchin Rafiyev, Azerbaijan's COP29 lead …

Finance COP fails to offer adequate finance to developing countries for climate action
4 months ago

Finance COP fails to offer adequate finance to developing countries for climate action

Live Mint  

New Delhi: After an extension and over two weeks of intense negotiations, the 29th UN climate change conference or COP29 in Baku finally reached a consensus on a new collective quantified goals on climate finance but disappointed developing countries with only $300 billion per year by 2035 as against a required $1.3 trillion. Onus on developed countries The final draft …

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 …

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 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 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: $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 …

Why is there a row over climate finance?
4 months, 1 week ago

Why is there a row over climate finance?

The Hindu  

The story so far: The 29th edition of the Conference of Parties, arguably the most important of the UN’s climate conferences, was scheduled to end on November 22, after 11 days of negotiations, and take a collective step forward in addressing rising carbon emissions. This was seen to be the New Collective Quantified Goal on climate finance which refers to …

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: EU and US want to give $300 billion in climate finance
4 months, 1 week ago

COP29: EU and US want to give $300 billion in climate finance

NL Times  

Rich countries negotiating support for developing countries at the climate summit in Baku are prepared to pay 300 billion dollars a year in climate aid from 2035, sources told Reuters news agency. European Commissioner Wopke Hoekstra says it is "doubtful" whether the climate summit in Azerbaijan will have a successful outcome. COP29 actually ended on Friday, but on Saturday the …

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 …

‘No deal is better than a bad deal’: Cop29 deadlocked over climate fund
4 months, 1 week ago

‘No deal is better than a bad deal’: Cop29 deadlocked over climate fund

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 Hopes of a trillion-dollar climate finance fund appear to be slipping out of reach after …

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 …

Climate finance: Deploy the Loss and Damage Fund with care
4 months, 1 week ago

Climate finance: Deploy the Loss and Damage Fund with care

Live Mint  

The urgency of climate adaptation has never been more apparent. By aligning L&D resources with the National Action Plan on Climate Change, India can enhance its ability to manage and disburse global investments effectively. L&D funding could significantly bolster India’s financial capacity for climate action, fostering resilience and supporting its transition to a low-carbon economy. India must secure commitments from …

As deadline looms, divide over climate pact widens
4 months, 1 week ago

As deadline looms, divide over climate pact widens

Hindustan Times  

Baku: A deep divide over climate finance erupted into the open on Thursday at the UN climate summit COP29, as developed nations and developing nations roundly rejected a new draft proposal that offered two starkly different options for funding climate action, leaving the talks in disarray with barely a day remaining. A controversial proposal to count developing countries’ domestic resources …

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