India made a bold stand for the Global South at COP29 on Sunday morning, rejecting a newly proposed text on the New Collective Quantified Goal (NCQG), which was swiftly approved by the Azerbaijan Presidency amid widespread applause. UN and COP29 Presidency officials celebrated the decision, but India was the first to object, stating that the decision did not reflect the priorities of the Global South. This rejection was later supported by several other developing countries.
India raised its concerns before the decision was adopted, but was not given the floor to speak. The text, which sets a goal of at least $300 billion per year by 2035 for climate action in developing countries, with developed nations “taking the lead” in contributing, was gavelled through. It also outlined the “Baku to Belém Roadmap to 1.3T,” aiming to scale up climate finance to developing nations to $1.3 trillion.
“We are extremely disappointed. Trust is the foundation for all action, and this incident reflects a lack of trust and collaboration on a global challenge, especially for developing countries who are not responsible for the crisis,” said Chandni Raina, advisor at India’s finance ministry and its negotiator at COP29. She continued, “Gavelling through the decision and ignoring parties’ concerns does not align with the UNFCCC system. We demand that our objections be heard.”
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While COP29 President Mukhtar Babayev only stated that Raina’s comments would be recorded, other developing nations rallied behind India’s stance. Nigeria’s negotiator expressed disappointment, stating, “I could not return to my country with only $300 billion. This is an insult to what the UNFCCC stands for. Nigeria supports India’s rejection of the NCQG adoption.”
The Like-Minded Developing Countries (LMDC), a coalition of developing nations, also expressed their support for India’s objection.
In contrast, developed countries defended the decision, calling it a “breakthrough.” “COP29 will be remembered as the start of a new era in climate finance. The EU will continue to lead. This COP has delivered an ambitious and realistic goal with an expanded contributor base. With these funds and this structure, we are confident we will reach the $1.3 trillion goal,” said the EU’s climate envoy, Wopke Hoekstra.
However, civil society organizations criticized the NCQG text, arguing that it was inadequate to tackle the global climate crisis. “At COP29, developed nations once again coerced developing countries into accepting a financial deal that is far from enough to address the scale of the climate crisis. This deal fails to provide the essential support needed for developing countries to transition to clean, renewable energy and adapt to the devastating impacts of climate change,” said Harjeet Singh, Global Engagement Director at the Fossil Fuel Non-Proliferation Treaty Initiative.
The NCQG text reaffirmed the Paris Agreement’s Article 9 and set a goal to provide at least $300 billion per year by 2035 for climate action in developing countries, with contributions from a range of sources, both public and private. It also encouraged voluntary contributions from developing countries, including through South-South cooperation.