India Thursday said developed countries must commit to providing at least USD 1.3 trillion each year until 2030 to developing nations and that the new climate finance package, being negotiated at the UN climate conference in Azerbaijan, cannot become an 'investment goal'.
Speaking on behalf of Like-Minded Developing Countries (LMDC) at the sixth High-Level Dialogue on Climate Finance at the UN climate conference in Baku, Azerbaijan, India emphasized that this support for developing countries to cope with the warming world should come through grants, concessional financing, and non-debt incurring aid.
It said the new climate finance package or the New Collective Quantified Goal (NCQG) -- the top priority for this year's UN climate summit -- should align with the evolving priorities of developing countries and be free from restrictive conditions that could hinder their growth.
This story is from the November 15, 2024 edition of The Daily Guardian.
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This story is from the November 15, 2024 edition of The Daily Guardian.
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