India at COP29: Advocating for Fair Climate Finance and Carbon Markets

India is urging for equitable climate finance and adaptable carbon market mechanisms at COP29, as over 190 countries gather for climate negotiations. Focused on the principle of Common but Differentiated Responsibilities, India emphasizes the need for accessible climate finance and support for adaptation for developing nations.

India has outlined its key expectations at the ongoing COP29 climate summit, focusing on fair climate finance and the establishment of carbon market mechanisms that avoid barriers to trade. The event, attended by over 190 countries, is held under the United Nations Framework Convention on Climate Change (UNFCCC).

Emphasizing the principle of Common but Differentiated Responsibilities (CBDR), Indian officials have stressed that developed countries, as historical emitters, should spearhead mitigation and climate finance efforts. India's priorities include increased financial support for developing nations and a balanced approach in climate talks.

India advocates for climate finance recalibration under the New Collective Quantified Goal (NCQG), pressing for accessible funding for adaptation needs in vulnerable communities. With a focus on sustainable development, India emphasizes the importance of discussions around adaptation and resilience-building at COP29.

(With inputs from agencies.)