India's expectations from COP29: focus on equity, finance, and adaptation

PTI Baku (Azerbaijan): Outlining its core expectations from the COP29 in ways that respect the unique needs of developing countries, India on Tuesday said it is expecting carbon market mechanism “without creating barriers to trade” and a recalibration of climate finance under the new Goals. India and more than 190 other countries have gathered at this Azerbaijan capital for the annual climate negotiations, COP29, under the United Nations Framework Convention on Climate Change (UNFCCC).

Highlighting India's approach, official sources emphasised the commitment to the principle of Common but Differentiated Responsibilities (CBDR), underscoring that developed nations, as historical emitters, should take the lead in mitigation efforts and climate finance.

India's priorities at COP29 include adequate financial support for developing nations, especially for adaptation efforts, and ensuring a fair and equitable approach in all climate negotiations. One of India's primary expectations is a recalibration of climate finance under the New Collective Quantified Goal (NCQG), sources said. The NCQC, which expects rich nations to contribute climate finance annually for climate action projects in poor countries, is a prime focus area for COP29.