India strongly opposed the COP29 agreement, criticizing the adoption process and the “Baku to Belem Roadmap to 1.3T,” which aims to triple climate finance for developing countries by 2035.
COP29 president Mukhtar Babayev approved the new climate finance target without checking for objections, leading to India’s strong opposition.
India’s negotiator, Chandni Raina, expressed disappointment, calling the approval “stage-managed” and criticizing the process for ignoring objections.
India highlighted the need for $1.3 trillion per year in climate finance by 2030, but the proposed target is only $300 billion, which experts, including Johan Rockstrom, called insufficient.
India criticized the agreement for not addressing the needs of developing countries, calling the proposed climate finance amount “abysmally poor” and inadequate for necessary climate action.
Chandni Raina emphasized that the funds would not support the survival and growth of vulnerable populations, stating India could not accept the agreement.
India’s stance received widespread support from civil society, with climate activist Harjeet Singh stating that the agreement provides false hope and abandons vulnerable communities facing climate disasters.
The future of investing is here! Unicorn Signals leverages advanced AI technology to provide you with powerful market predictions and actionable stock scans. Download the app today and 10x your trading & investing journey!