Developed Nations Urged to Fund Climate Action for Developing Countries

Union Environment Minister Bhupender Yadav has emphasized the responsibility of developed countries to finance climate action in developing nations. With an urgent call for climate finance to be central at the upcoming UN conference in Baku, Yadav highlighted India's progress and the global need for equitable growth.

Union Environment Minister Bhupender Yadav has issued a compelling call for developed nations to own up to their historical responsibility for maximum carbon emissions by providing essential finance to developing countries in the fight against climate change. Speaking at the India Climate Summit organized by Times Network, Yadav reaffirmed India's commitment to its climate goals and urged developed countries to follow suit.

The urgent need for climate finance will take center stage at the upcoming UN climate conference in Baku, Azerbaijan, where the New Collective Quantified Goal (NCQG) will be discussed. This critical goal aims for developed nations to mobilize new financial support for climate action in developing countries starting in 2025. With global temperatures steadily rising due to increased carbon emissions, the IPCC reports underscore the urgency of this initiative.

Developing countries have consistently argued for the necessity of enhanced financial and technological support from developed nations, which historically bear the bulk of responsibility for climate change. The upcoming conference is expected to highlight this disparity and emphasize the need for more than USD 100 billion, with developing nations demanding trillions to effectively tackle climate change. The deadline to agree on an NCQG approaches, bringing heightened attention to this critical issue.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)