COP29 Climate Summit: Climate finance draft sets stage for a clash

The final version not only keeps the role of public financing ambiguous but also tries to put the burden of making contributions on developing countries

India and other developing nations are set to clash with Global North, the rich side of the world, on Friday at COP29, the UN Climate Summit, in Baku, over the final draft of a global climate-finance plan, which ignores the needs and demands of poorer nations and leaves them exposed to the adverse effects of climate change.

 

The final version of the New Collective Quantified Goal on Climate Finance (NCQG), a key requirement to keep global warming below 2 degrees centigrade from pre-industrial levels, presented on November 22, does not offer any financial solution to developing nations on how to