COP29: India says climate deal falls short

Baku: India strongly opposed the agreement reached at COP29 and the manner of its adoption at the United Nations climate change conference. It said the 'Baku to Belem Roadmap to 1.3T', which aimed to at least treble climate finance for developing countries, from the current level of $100 billion, by 2035, was "too little, too distant".

In the early hours of Sunday, around 2:30 am local time, COP29 president Mukhtar Babayev took up the agreement on the new climate finance target or new collective quantified goal. Without checking to see if any country or negotiating group had objections, Babayev struck the gavel, said people familiar with the matter. "We had informed the presidency, we had informed the secretariat that we wanted to make a statement prior to any decision on the adoption," said Chandni Raina, India's negotiator on finance. Expressing its disappointment, she said that the approval had been "stage-managed" and that "gavelling and trying to ignore parties from speaking does not behove the UNFCCC (United Nations Framework Convention on Climate Change".

Referring to various assessments including that of the UN appointed International High-Level Expert Panel, she said, "Our 2030 estimates tell us that we need $1.3 trillion per year till 2030. But we only have a proposal that talks about a $300 billion mobilisation goal." Similar concerns were raised by scientists. The $300 billion target, according to earth system scientist Johan Rockstrom, is "too little, too late, from too many sources".


India said the agreement did not "address the needs and priorities of the developing countries". "The amount that is proposed to be mobilised is abysmally poor. It is a paltry sum. It is not something that will enable conducive climate action that is necessary for the survival of our country, and for the growth of the people, their livelihoods. I am sorry to say that we cannot accept it," said Raina. India's intervention received wide support from civil society as well.

"The outcome offers false hope to those already bearing the brunt of climate disasters and abandons vulnerable communities and nations, leaving them to face these immense challenges alone," said Harjeet Singh, climate activist and global engagement director for the Fossil Fuel Non-Proliferation Treaty Initiative.