With 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.
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.
Take onus for historical emissions, provide support, rich nations told
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.
He reminded the global community that the high-emission development pathways of the Global North have left limited carbon space for the Global South, which now faces the dual challenge of addressing climate impacts and pursuing sustainable development.
Despite this, Singh noted that developing nations, including India, are taking significant climate actions, often at the cost of their development priorities. India’s achievements in climate action were highlighted as an example of ambition and commitment. Singh pointed to the country’s early achievement of its 2015 Nationally Determined Contribution (NDC) targets on emission intensity reduction and non-fossil-based electricity generation.
“India’s renewable energy capacity has nearly tripled since 2014, and the country is on track to meet its 500 GW target by 2030,” he said.However, Singh said that raising global climate ambition must be accompanied by a significant scaling up of climate finance and free access to green technologies.