COP29: India asks rich nations to honour adaptation finance vows
India said the developing world is disproportionately suffering from the impacts of climate change, which are largely the result of historical emissions by developed countries.
PTI
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Activists participate in a demonstration against wars and fossil fuels at COP29 U.N. Climate Summit. FILE PHOTO: AP/PTI
Baku (Azerbaijan), 20 Nov
India has called on developed countries to step up their support for
climate adaptation in developing countries, saying the growing frequency and
intensity of extreme weather events is putting the survival of people,
especially in poor nations, at risk.
Speaking at a high-level ministerial dialogue on adaptation on Tuesday,
India highlighted that the developing world is disproportionately suffering
from the impacts of climate change, which are largely the result of historical
emissions by developed countries.
“The increasing frequency and intensity of extreme weather events are
adversely affecting the lives and livelihood of those in the developing world,
putting their very survival at risk,” Indian negotiator Rajasree Ray said.
India recalled that the UAE framework for global climate resilience
adopted at COP28 last year emphasises the urgent need for enhanced support from
developed countries.
“This mobilisation should go beyond the previous efforts, supporting the
country driven strategies while respecting their evolving needs and unique
circumstances,” Ray said.
India said that one of the critical challenges in helping developing
countries adapt to the warming world is the slow disbursement of climate
adaptation funds under existing financial mechanisms.
“Long, complex approval procedures with the stringent eligibility
criteria that makes it difficult for the developing countries to access adaptation
finance,” the negotiator said.
Calling for an ambitious financial framework post-2025, India said the
new climate finance package for developing countries should incorporate
substantial grants and concessional finance.
“Developed countries must play a pivotal role in incentivising
adaptation finance flows from public and private sources to developing
nations,” she said.
India shared its own efforts in adaptation, saying that financing so far
has largely come from domestic resources.
“We are in the process of developing our National Adaptation Plan. In
our initial adaptation communication to the UNFCCC last year, we estimated
adaptation capital requirements of up to USD 850 billion,” she added.
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