The principle of “common but differentiated responsibilities and respective capabilities” (CBDR-RC), established in the 1992 UNFCCC, acknowledges that while all countries share the responsibility to address climate change, developed nations, having historically contributed more to greenhouse gas emissions, bear a greater burden. At COP29, India strongly upheld this principle, highlighting the disparity in climate finance commitments and its implications on developing countries’ climate action plans.

(COP29 is an important international climate conference under the United Nations Framework Convention on Climate Change (UNFCCC). It took place in Baku, Azerbaijan, in November 2024. This conference was built on the outcomes of previous COP meetings, particularly COP26 (in Glasgow) and COP27 (in Sharm El-Sheikh), which emphasized the need for enhanced climate action and support for vulnerable countries)

Key Dimensions of India’s Stance at COP29

Equity-Based Climate Finance– India criticized the proposed New Collective Quantified Goal (NCQG) of $300 billion annually by 2035 as insufficient, given the UNFCCC estimate of $455-$584 billion needed annually. India demanded $1.3 trillion annually by 2030, with $600 billion in grants or concessional finance. This reflects India’s push for equitable resource distribution to meet the financial needs of the Global South.
Historical Responsibility of Developed Nations– India emphasized the historical contribution of developed nations to greenhouse gas emissions and criticized their failure to deliver the promised $100 billion annual climate finance by 2020, which was only achieved in 2022. This delay has created a trust deficit, leaving vulnerable nations like Least Developed Countries (LDCs) and Small Island Developing States (SIDS) exposed to the disproportionate impacts of climate change.
Impact on Nationally Determined Contributions (NDCs)– India highlighted that its climate commitments under NDCs depend on adequate financial and technological support, as per Article 4(7) of the UNFCCC. Insufficient finance risks undermining the ambition and implementation of these goals. India firmly rejected the NCQG for placing undue responsibility on developing nations without adequate support from developed nations.
Focus on Adaptation and Loss & Damage– India criticized the lack of minimum allocation floors for LDCs and SIDS in the NCQG. It supported demands for $39 billion for SIDS and $220 billion for LDCs to address loss and damage, advocating a fair and needs-based allocation mechanism to aid vulnerable nations in adapting to climate impacts.
Strengthening Multilateral Mechanisms– India called for reforming the global climate finance architecture to make funds accessible, affordable, and equitably distributed. Citing its historical success in mobilizing $240 million under the Montreal Protocol (including $80 million for India), India emphasized the need to restructure mechanisms to align with equity and trust principles.
Disappointment with COP29 Presidency– India expressed disapproval of COP29’s decision-making process, citing a lack of transparency and inclusivity. The NCQG was finalized without India’s consultation, undermining trust and collaboration among nations. India advocated for democratic and inclusive global negotiations to ensure fair outcomes.
Technological Transfer and Capacity Building– India stressed the critical role of affordable and sustainable technology transfer in effective climate action. It demanded concessional finance to enable such transfers, underscoring that capacity building and technology are as crucial as financial resources for addressing climate challenges.
Domestic Commitments Contingent on Global Actions– India linked its next NDC submission to the adequacy of global financial and technological support. This highlights the interdependence between domestic climate goals and international commitments, reinforcing India’s adherence to CBDR-RC while urging greater accountability from developed nations.
Developing South Solidarity– India aligned with the G77 and China, advocating for $1.3 trillion annually to address the climate crisis. This collaboration underscores India’s commitment to amplifying the Global South’s voice in climate negotiations, ensuring equitable resource allocation and action.
Economic Costs of Climate Change– The Global Stocktake (GST) estimates that climate change could cause annual economic losses of $447-$894 billion by 2030. India highlighted the disproportionate burden on developing nations, emphasizing the urgency of adequate finance and mitigation measures.
Role of Renewable Energy– India’s initiatives like the International Solar Alliance (ISA) and the Green Hydrogen Mission depend heavily on global finance and technology transfers. These projects exemplify how renewable energy can serve as a driver of both sustainable economic growth and climate action.
Environmental Justice– India’s approach integrates environmental justice, focusing on prioritizing the rights and needs of marginalized and vulnerable populations in climate action.
Green Finance and Private Sector Engagement– India advocates mobilizing domestic and international private finance to complement public funds for green infrastructure and technology projects. This strategy aligns with India’s broader goal of achieving a sustainable transition.

Conclusion
India’s approach at COP29 exemplifies its steadfast commitment to CBDR-RC, emphasizing equity, enhanced climate finance, and robust global partnerships. By addressing financial, technological, and governance disparities, India continues to champion inclusive and effective global climate action. Its leadership in advocating for the Global South underscores India’s pivotal role in shaping a sustainable and equitable global climate framework.

https://www.thehindu.com/opinion/op-ed/cop29-climate-finance-and-its-optical-illusion/article69047742.ece

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