India sees key moment for Global South

The COP29 climate talks present a historic opportunity for the Global South, where populations are most vulnerable to climate change, to commit to ambitious mitigation action, India stressed during a key round of talks, where its lead negotiator also reiterated calls for the rich world to commit to mobilising at least $1.3 trillion.

- Jayashree Nandi

During Thursday's High-Level Ministerial on Climate Finance, India's lead negotiator Naresh Pal Gangwar also warned against attempts to dilute developed nations' financial obligations under the Paris Agreement amid unprecedented presence of fossil fuel interests at the negotiations.

Gangwar pushed for developed countries to commit at least $1.3 trillion annually until 2030, specifically through "grants, concessional finance and non-debt-inducing support" for developing nations. The demand comes as developing countries face mounting challenges from climate impacts while struggling to finance both mitigation and adaptation measures. "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," Gangwar said, pointing to increasingly frequent and intense extreme weather events affecting developing nations.