Published: 12 November 2025PIBEnvironment
COP29: India Held Line on CBDR, Opposed Inadequate Climate-Finance Outcome
At COP29 in Baku, Azerbaijan, held from 11 to 22 November 2024, India took a firm stand on climate finance, taking a firm stand on climate finance and the principle of Common But Differentiated Responsibilities and Respective Capabilities (CBDR-RC).
India reiterated its demand for $1.3 trillion per year from developed countries as the New Collective Quantified Goal (NCQG) for climate finance, arguing that the Global South faces existential costs in adapting to climate change and transitioning to clean energy. The Minister accused the COP29 presidency of attempting to push through a deal — the $300 billion/year NCQG figure — that falls far short of what developing and climate-vulnerable nations need.
India's national statement emphasised four pillars: (1) Differentiated responsibility — historically industrialised nations must lead on finance; (2) Adequacy — $300 billion is grossly inadequate for the scale of the climate crisis; (3) Predictability — finance must be new, additional, grant-based, and not loans disguised as climate finance; (4) Accountability — robust tracking mechanisms must be in place to ensure pledges are fulfilled.
India pointed out that the $100 billion/year Copenhagen pledge was never fully delivered, undermining trust. The country stressed that genuine ambition requires genuine money — not accounting tricks.
The Article 6 carbon market negotiations were also proceeding in parallel, with India cautioning against mechanisms that allow developed nations to "offset" their emissions cheaply in developing countries while avoiding domestic reductions.
For Rajasthan: the state's agriculture is increasingly threatened by erratic rainfall and rising temperatures. International climate finance, if adequate, could fund watershed management, crop insurance, and solar adoption at scale in Rajasthan.
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Frequently asked questions
What were the four pillars of India's national statement at COP29 on November 13?
India's national statement at COP29 was built on four pillars: (1) Differentiated responsibility — developed nations must lead on finance; (2) Adequacy — $300 billion/year is insufficient; (3) Predictability — finance must be grant-based, not loans; (4) Accountability — robust tracking mechanisms for pledges.
Why did India accuse the COP29 presidency?
India accused the COP29 presidency of attempting to push through a hasty $300 billion/year NCQG deal that falls far short of the $1.3 trillion/year developing nations need for adaptation and clean energy transition.
What trust deficit did India highlight regarding climate finance?
India highlighted that the $100 billion/year pledge made at Copenhagen 2009 was never fully delivered by developed countries, creating a trust deficit that makes new pledges unreliable without strong accountability mechanisms.
What was India's concern about Article 6 carbon markets at COP29?
India cautioned that Article 6 carbon market mechanisms could allow developed nations to cheaply offset their emissions in developing countries instead of making genuine domestic emission reductions.
How does India's COP29 position affect Rajasthan?
Rajasthan's agriculture and water resources face increasing threats from climate change. India's push for adequate climate finance, if successful, could unlock funds for Rajasthan's watershed management, crop insurance, and solar expansion.
