India made a statement on behalf of like-minded developing countries at a high-level ministerial meeting on climate finance at the COP29 Summit in Baku, Azerbaijan

Intervening on the behalf of Like-Minded Developing Countries (LMDCs), at the High-Level Ministerial on Climate Finance on 14.11.2024 in CoP29 of the UNFCCC Summit at Baku, India highlighted that the impacts of Climate Change are increasingly becoming evident in form of one disaster to another.

Delivering the statement, Shri Naresh Pal Gangwar, AS (MoEFCC) and India’s lead negotiator at CoP29, stated that extreme weather events are so frequent and increasingly strong, that the impacts are being felt by the people of the Global South, especially. There is, therefore, a need for heightened ambitions on climate action. He said, “We are at a crucial juncture in our fight against Climate Change. What we decide here will enable all of us, particularly those in the Global South, to not only take ambitious mitigation action but also adapt to Climate Change. This CoP is historic in this context”
“Recognizing historical responsibilities and differences in power, the UNFCCC and its Paris Agreement envisage a global response to climate change, adhering to principles of equality and common but differentiated responsibilities and respective powers,” the statement asserted. The context of various national situations, sustainable development goals and poverty alleviation, especially with respect to the Global South, should not be forgotten. These policies must create the groundwork for strong results on the New Collective Goals in COP29.

India’s intervention reiterates that developed countries need to commit to providing and raising at least $1.3 trillion every year until 2030, even if grants, concessional financing and non-loan incentive support that meet the evolving needs and priorities of developing countries. read more 

Statement Recognys