India Stresses Climate Finance Should Not Be Seen as Investment Goals at COP 29
At the ongoing COP 29 summit, India has voiced strong concerns regarding the framing of climate finance, emphasizing that it should not be perceived as a means to attract investment. In a statement made during the international climate talks, India highlighted the need for climate finance to be directed specifically toward the most vulnerable countries, rather than being treated as a tool for investment or commercial gains.
India’s position came in response to discussions on how climate finance can be mobilized to help developing nations transition to cleaner and more sustainable energy systems. India reiterated that climate finance is critical to supporting the adaptation and mitigation needs of these nations, especially in light of rising climate-related challenges.
The Indian delegation called for a more equitable approach to climate funding, urging that it be granted as assistance and not tied to economic or investment-driven motives. They stressed the importance of international cooperation in ensuring that the financial resources needed for climate action are accessible to those who are most at risk from climate impacts.
India’s stance also underlined that global climate funding must be based on historical responsibility, with developed nations playing a leading role in providing the necessary resources to developing countries. The country called for a clear roadmap and commitment from high-income nations to meet their climate finance promises, particularly in the wake of their historical contributions to global emissions.
As COP 29 progresses, the issue of climate finance continues to be one of the key points of negotiation, with many nations pushing for more substantial commitments to help meet the growing challenges posed by climate change.