India rejected the $300 billion climate finance agreement, increasing PM Modi's prestige

Cop-29: India has once again proved that it is the voice of the countries of the Global South at the ongoing UN Climate Conference in Baku, the capital of Azerbaijan. India rejected a key proposal related to climate finance, which was aimed at providing a total of US $ 300 billion to the countries of the Global South by 2035. India termed it as "too little and too far away", and said that this figure is far less than the real needs of developing countries. After this protest, India's prestige increased further at the global level, and the respect of Prime Minister Narendra Modi once again reached the peak.

India rejects the proposal of $ 300 billion

India clearly opposed this proposal, saying that it ignores the real needs of the countries of the Global South to deal with climate change. Chandni Raina, Departmental Advisor on Economic Affairs, while giving a statement on behalf of India, said, "The figure of US $ 300 billion is much less than the 1.3 trillion dollars that has been demanded by developing countries for the last three years." Raina also said that this target has been set to be achieved by 2035, which is a very far-fetched idea and the issue of climate change cannot be dealt with seriously.

India has become the voice of the Global South

Today India is considered the leading voice of the Global South. Even before this, India has strongly presented the side of developing countries in the talks on climate change. This time too, India alone opened a front against this proposal and showed the whole world that when it comes to the interests of the Global South, India will not step back. Raina said, "We are unhappy and disappointed with this process. We object to the adoption of this agenda because it does not respect inclusiveness and the stance of countries.''

India got global support

India's bold move received support not only from representatives of developing countries but also from the global community. Nigeria supported India and called the $300 billion climate finance package a "joke", while Malawi and Bolivia also justified India's position. These countries raised their voice in favor of India, making it clear that the voice of the Global South can no longer be ignored on the issue of climate change.

The real question of climate finance

India made it clear that the issue of climate finance should not be limited to figures only. Raina said that by 2030, US $ 1.3 trillion is required per year, which is necessary for developing countries to deal with climate change. He also said that the $300 billion package is against the principle of "CBDR" (common but differentiated responsibility) and equity, which recognizes the equal responsibility of all countries in solving climate change.

India rejected the proposal

Raina also said in his statement that this proposal will further weaken the adaptation capacity of developing countries to climate change and seriously affect their development goals. He said, "India does not accept this proposal in its current form." This new package to deal with climate change will replace the target of $100 billion set in 2009, which has not been met till now.

Conclusion

In this conference, India not only showed its firmness but also prominently raised the real needs of developing countries. This step of India can prove to be a turning point not only for the countries of the Global South but in the fight against climate change as a whole. India has proved that when it comes to climate crisis, it is not only concerned but also protects the interests of developing countries across the world.