2024-11-24 04:13:00
India on Sunday rejected a new climate finance package of $300 billion for the Global South at the UN climate conference here, saying it was too little and too late.
Nations agreed on the $300 billion climate finance deal for Global South at the UN climate talks taking place here in Azerbaijan.
Making a statement on behalf of India, Chandni Raina, Adviser, Department of Economic Affairs, said they were not allowed to speak before the adoption of the deal.
“$300 billion does not address the needs and priorities of developing countries. It is incompatible with the principle of CBDR (Common but Differentiated Responsibilities) and equity, regardless of the battle with the impact of climate change,” she said.
“We are very unhappy, disappointed with the process, and object to the adoption of this agenda,” the Indian negotiator said.
Supporting India, Nigeria said the $300 billion climate finance package was a “joke”. Malawi and Bolivia also lent support to India.
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How does India’s rejection of the climate finance package reflect its stance on the principles of Common but Differentiated Responsibilities (CBDR) and equity in international climate negotiations?
**Interview with Chandni Raina on India’s Rejection of the $300 Billion Climate Finance Package**
**Interviewer**: Welcome, Chandni Raina, Adviser at the Department of Economic Affairs of India. Thank you for joining us today to discuss the recent developments at COP29 regarding climate finance.
**Chandni Raina**: Thank you for having me. It’s a critical time for climate negotiations, and I’m glad to shed some light on our position.
**Interviewer**: India recently rejected the new climate finance package of $300 billion for the Global South. Can you tell us why this decision was made?
**Chandni Raina**: Our rejection is rooted in the fact that despite the significant number, the package does not adequately address the critical needs and priorities of developing countries like India. We believe that $300 billion is inadequate, given the enormity of the climate crisis we face. The amount is incompatible with the principle of Common but Differentiated Responsibilities (CBDR) and fails to promote the equity that is essential in these discussions [[1](https://news.un.org/en/story/2024/11/1157276)].
**Interviewer**: You mentioned the principles of CBDR and equity. Could you elaborate on why these principles are crucial in climate negotiations?
**Chandni Raina**: Certainly. The principle of CBDR acknowledges that while all countries are responsible for addressing climate change, they do not share the same responsibilities or capacities. Developed countries have contributed the most to climate change historically, and thus, they should lead in financing and mitigation efforts. This equity is fundamental to ensuring that developing nations can cope with the impacts of climate change without compromising their development goals [[1](https://news.un.org/en/story/2024/11/1157276)].
**Interviewer**: There were other nations, like Nigeria, that voiced similar sentiments regarding this climate finance package. How do you see international solidarity among developing countries changing the dynamics of these negotiations?
**Chandni Raina**: It’s important to highlight that we are not alone in our concerns. Countries like Nigeria, Malawi, and Bolivia have echoed our sentiments, stating that the proposed package is inadequate. This display of solidarity among developing nations strengthens our position. It emphasizes that the needs of the Global South are not being met, thus reigniting discussions on fair financing that truly reflects the severity of climate impacts we endure [[1](https://news.un.org/en/story/2024/11/1157276)].
**Interviewer**: What steps do you think need to be taken moving forward to ensure a more equitable climate finance strategy?
**Chandni Raina**: Moving forward, it is essential for negotiations to genuinely consider the input of developing countries. We need increased transparency and dialog before any agreements are made, to ensure that the voices of those most affected by climate change are heard. Additionally, we require a robust commitment from developed countries to enhance financing that meets the actual needs of developing nations [[1](https://news.un.org/en/story/2024/11/1157276)].
**Interviewer**: Thank you for your insights, Chandni. It’s clear that the conversation around climate finance is more crucial than ever as we strive to address these pressing global challenges.
**Chandni Raina**: Thank you for having me. We must keep pushing for a fair and just approach to climate finance, as the future of many countries depends on it.
