INDIA: SET NEW FINANCE GOAL ON CLIMATE JUSTICE

ITH COP29 negotiations reaching a critical stage, India on Tuesday demanded clear answers from developed countries on the New Collective Quantified Goal (NCQG) for climate finance.

- S V KRISHNA CHAITANYA

Delivering the national statement, Kirti Vardhan Singh, Minister of State in the Ministry of Environment, Forest, and Climate Change, said all NCQG decisions for climate finance must reflect the principles of climate justice and equity.

He called for ambitious and unambiguous outcomes that address the evolving needs of developing countries, including adaptation, mitigation, and loss-and-damage funding.

Singh reminded developed nations of their responsibility under the Paris Agreement to provide sufficient financial resources to enable the Global South to meet its development goals while addressing climate challenges.

The next round of the Nationally Determined Contributions (NDCs) is due in 2025.

Kirti Vardhan Singh asked countries to lead by advancing their net-zero targets and ensuring enough carbon space for the development needs of nations like India.

Referring to Common but Differentiated Responsibilities and Respective Capabilities (CBDR-RC), Singh urged developed nations to take responsibility for their historical emissions and provide the necessary financial and technological support to developing countries.