COP29 Draft Proposes $250 Billion Climate Finance Commitment

23 Nov 2024

The COP29 summit in Baku unveiled a draft proposal urging wealthy nations to allocate $250 billion annually to help vulnerable countries combat climate change and advance renewable energy adoption. The draft also sets a broader target of $1.3 trillion in climate finance by 2035. Key Highlights of the Draft Proposal...

Developing Nations Oppose Expanding NCQG Contributor Base

21 Nov 2024

Baku, COP29 – Developing nations have firmly opposed any attempts to expand the contributor base for the New Collective Quantified Goal (NCQG), a new climate funding initiative meant to support climate actions in developing countries. This funding is intended to build on the previous commitment of $100 billion per year,...

G20 Summit Reaches Fragile Consensus On Climate Finance Amid Growing Tensions

18 Nov 2024

Diplomatic Struggles over Global Warming Efforts at G20 Talks in Rio Diplomatic tensions over climate change spilled into the G20 summit negotiations in Rio de Janeiro this week, with major economies managing to reach a fragile agreement on climate finance something that had proven elusive during the UN talks in...

COP29 Summit: $1 Trillion Climate Finance Needed Annually To Save Poor Nations By 2030

14 Nov 2024

A new study warns that poor countries will need $1 trillion annually by 2030 to address climate change and its impacts, five years earlier than the goal set by wealthy nations. The study, published by the Independent High-Level Expert Group on Climate Finance, states that delaying funding until 2035 could...

India is pushing for $1 trillion climate finance deal at COP29

06 Nov 2024

As COP29 approaches in Baku, Azerbaijan, the spotlight on climate finance has never been more intense. From technological investments to adaptation measures, the upcoming negotiations aim to shape a new climate finance target. With India and other developing nations at the forefront, achieving a balance between domestic needs and international...

Budget 2024-2025: Green Strides But Miles To Go

23 Jul 2024

New Delhi: The Union Budget 2024 presented a mixed bag for India's green ambitions. While Finance Minister Nirmala Sitharaman highlighted the importance of energy transition, experts from the Centre for Science and Environment (CSE) expressed both optimism and concern regarding the specific measures. Sitharaman on Tuesday said, "We will develop...

Climate finance at market rate will put financial pressure: Developing countries

10 Nov 2022

India has stated on behalf of developing countries that climate finance at market rates will put further financial pressure on these countries. “Going ahead, if ambitious climate targets have to be achieved, these need to be backed by intentions reflected by ambitious, appropriate, and reasonable access to financial resources by...