COP29 in Baku promised new climate finance targets but left developing nations disillusioned with inadequate commitments
The NCQG's $300 billion annual target by 2035 triples prior commitments but falls short of the $1.3 trillion demanded by developing nations
The $100 bn annual target from COP15 was met only once, in 2022. Now, even the new $300 billion target looks unattainable
COP29 achieved consensus on operationalising carbon markets under Article 6 of the Paris Agreement. This paves the way for country-to-country carbon trading
India’s rejection of the deal highlights the continued neglect of historical responsibilities by developed nations
With unreliable commitments from the Global North, countries like India must prioritise adaptation strategies. Reducing dependence on thermal power