Global South Demands Climate Justice As COP29 Negotiations Intensify In Baku

ENA Global 2024-11-20 15:28:25 New Delhi, Nov 20 (KNN) Critical negotiations at COP29 in Baku, Azerbaijan, have entered a decisive phase as nations work to establish a new climate finance framework to succeed the USD 100 billion target established in 2009. India has emerged as a prominent voice advocating for equity and climate justice in the discussions. Union Minister of State for Environment, Forest and Climate Change, Kirti Vardhan Singh, delivered India's national statement, emphasising the historic significance of COP29 for Global South nations. Singh stressed that the summit's decisions would be crucial in enabling developing countries to pursue both climate adaptation and ambitious mitigation strategies. In a bold financial proposal, India has called for developed nations to mobilise at least USD 1.3 trillion annually until 2030 through grants, concessional finance, and non-debt-inducing support. This stance reflects the growing consensus among developing nations regarding the substantial financial burden they face in addressing climate change impacts and implementing mitigation measures. The upcoming February deadline for new Nationally Determined Contributions (NDCs) has added urgency to the discussions. India has challenged developed nations to accelerate their Net-Zero targets while ensuring adequate carbon space for developing countries. The nation has particularly criticised unilateral measures by developed countries that complicate climate action efforts in the Global South. Singh highlighted the critical issue of diminishing carbon space, noting that historical emissions from the Global North have severely limited options for developing nations. He emphasised that growth trajectories essential for sustainable development and poverty eradication in the Global South cannot be compromised. During the summit, India also showcased its own climate achievements, including meeting its 2015 NDC targets ahead of schedule. The country reaffirmed its commitment to achieving 500 GW of non-fossil fuel installed capacity by 2030 and highlighted its initiatives promoting sustainable lifestyles through Mission LiFE. (KNN Bureau) 39978 https://knnindia.co.in/news/newsdetails/global/global-south-demands-climate-justice-as-cop29-negotiations-intensify-in-baku 2024-11-20 15:28:25 knnindia.co.in Global South Demands Climate Justice As COP29 Negotiations Intensify In Baku