The COP-21 in Paris, which took place in 2015, had for the first time, earmarked $100 billion per year as climate fund till 2025.
The Paris Agreement was designed to enhance global climate action over time, addressing both the need to reduce emissions and adapt to climate impacts, while mobilizing finance and support for developing nations.
However, the current discussion on climate finance is based on a new framework known as the New Collective Quantified Goal (NCQG) on climate finance, which is a draft being developed by the United Nations Framework Convention on Climate Change (UNFCCC) to replace the current $100 billion per year climate finance target for developing countries recommended in the Paris Agreement.
This goal, expected to be finalised in COP 29, will set a new, higher target that addresses the financial needs for climate action, including mitigation, adaptation, and potentially loss and damage.
The NCQG seeks to enable developed countries to support climate-vulnerable developing nations in reducing greenhouse gas emissions and adapting to climate impacts.
Notably, it emphasises aligning finance flows with the Paris Agreement's temperature goals and sustainable development pathways.
Denne historien er fra November 13, 2024-utgaven av The Statesman.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra November 13, 2024-utgaven av The Statesman.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Want To Be Part Of A Team That Has A Good Environment: KL Rahul Ahead Of IPL Auction
Stressing on the importance of playing with "freedom" in a "good environment", KL Rahul said he was looking forward to starting afresh as he enters the mega Indian Premier League auction after being released by the Lucknow Super Giants, following their forgettable seventh-place finish in IPL 2024.
Russia Launches First Missile Attack On Kyiv In Months As North Korean Troops Fight Ukraine In Kursk
Russia attacked the Ukrainian capital Kyiv with a sophisticated combination of missiles and drones for the first time in 73 days on Wednesday, authorities reported, as the Pentagon said most of the North Korean troops sent to help Moscow's war effort are fighting to drive Ukraine's army off Russian soil in the Kursk border region.
RG Kar Financial Lapses: Illegal Medicine Purchase Under CBI Lens
Sources said Maa Tara Traders, the agency to whom the purchases were illegally outsourced, was operating from Rishra in Hooghly district
At UN Climate Talks, Nations Big And Small Get Chance To Bear Witness To Climate Change
More than two dozen world leaders are delivering remarks at the United Nations' annual climate conference Wednesday, with many hard-hit nations detailing their nations' firsthand experience with the catastrophic weather that has come with climate change.
Birbhum ZP sabhadhipati Kajal Sheikh's security upgraded further
Within a month, security of Kajal Sheikh, sabhadhipati of Birbhum zilla parishad and a member of Birbhum district core committee, has been reviewed twice.
4 children suffer burn injuries in Kanksha
Three children received severe burn injuries on Rice Mill Road under Kanksha po lice station of West Burdwan while they were playing inside an abandoned vehicle.
TMC accuses ISF of setting on fire party office in Bhangar
Some unknown miscreants allegedly backed by Indian Secular Front (ISF) set fire to a party office of ruling Trinamul Congress at Chaltaberia in Bhangar of South 24 Parganas district at a time, when activists of the two parties got involved in a clash during bypolls in Haroa Assembly constituency in North 24 Parganas on Wednesday.
Climate Reckoning
India's climate crisis is no longer a distant threat; it's an urgent, daily reality.
Climate challenges
SIR, As the annual UN climate summit COP29 gathers in Baku, Azerbaijan, it faces a forbidding future.
Lady Justice
The symbolism marks an enlightened vision for India's judiciary. Yet, this gesture contrasts with the pressing challenges within the system, especially the vast backlog of cases. As of January 2024, the Supreme Court alone has over 80,000 pending cases, and more than 58 lakh cases are stuck across various high courts, with some dating back over 30 years. The delays disproportionately affect marginalized communities, often forcing them through a drawn-out, costly legal process
