At CoP29, India speaks for Like-Minded Developing Countries: developed nations must mobilise at least $1.3 trillion a year
On 14 November 2024 at CoP29 in Baku, Azerbaijan, India, speaking for the Like-Minded Developing Countries at the High-Level Ministerial on Climate Finance, said developed countries must provide and mobilise at least USD 1.3 trillion a year till 2030.
Summary
On 14 November 2024 at CoP29 in Baku, Azerbaijan, India delivered a statement on behalf of the Like-Minded Developing Countries (LMDCs) at the High-Level Ministerial on Climate Finance. India's lead negotiator Naresh Pal Gangwar, Additional Secretary in the Environment Ministry, said equity and Common but Differentiated Responsibilities and Respective Capacities must be the basis of a strong outcome on the New Collective Quantified Goal (NCQG). Developed countries must commit to provide and mobilise at least USD 1.3 trillion every year till 2030 through grants, concessional finance and non-debt-inducing support, without growth-inhibiting conditions on developing countries. The statement said the NCQG cannot be turned into an investment goal, and linked the outcome to updated NDCs due at COP30.
Key facts
- Date/place
- 14 Nov 2024, CoP29, Baku, Azerbaijan
- Forum
- High-Level Ministerial on Climate Finance
- On behalf of
- Like-Minded Developing Countries (LMDCs)
- Speaker
- Naresh Pal Gangwar, AS (MoEFCC), lead negotiator
- Demand
- At least USD 1.3 trillion a year till 2030
- Principles
- Equity; CBDR-RC
- NCQG
- Cannot be turned into an investment goal
Practice MCQs 3 questions
At CoP29 in November 2024, India said developed countries must provide and mobilise at least how much climate finance every year till 2030?
Show answer
Correct answer: B — USD 1.3 trillion
PIB (MoEFCC): India said developed countries need to commit to provide and mobilise at least USD 1.3 trillion every year till 2030.
On whose behalf did India deliver a statement at the High-Level Ministerial on Climate Finance at CoP29 on 14 November 2024?
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Correct answer: C — Like-Minded Developing Countries
PIB (MoEFCC): India intervened on behalf of the Like-Minded Developing Countries (LMDCs).
Consider the following about India's LMDC statement at CoP29 (14 November 2024): 1. It was delivered by India's lead negotiator Naresh Pal Gangwar. 2. It proposed turning the New Collective Quantified Goal into an investment goal. Which of the above is/are correct?
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Correct answer: A — 1 only
PIB (MoEFCC): Naresh Pal Gangwar delivered it, and the statement said the NCQG cannot be changed into an investment goal. So only 1 is correct.