The draft text does not address the concerns of Global South – Times of India

BAKU: With negotiations at CO on the crucial issue of climate financing Heading into an intensive round of talks against the backdrop of a new draft decision text, India has asked developed countries to commit to providing and mobilizing at least USD 1.3 trillion every year through grants, concessional financing and non-debt support by 2030 , without subjecting developing countries to “growth-inhibiting conditions when providing financing”.
It also stressed that support should respond to “evolving needs and priorities of developing countries”. The heavily bracketed draft text was released on Friday without actually addressing the concerns of developing countries. Although the number of pages of the new text was reduced from 34 to 25 by removing unimportant options, the main concerns of the Global South remain there without acceptable changes.
India, through its intervention at a high-level meeting on the issue, also linked developing countries’ move to update their climate action targets next year to rich countries’ climate finance commitments. COP30where all parties (countries) are expected to submit their updated Nationally Determined Contributions (NDCs). The comment sends a clear message to the Global North (rich countries) that developing countries will not be able to set ambitious emissions reduction targets unless with adequate and non-binding financing.
India put forward its position, in line with the demand of developing countries, through the intervention on Thursday on behalf of Like Minded Developing Countries (LMDC) representing over twenty countries in climate negotiations. Previously, the G77 plus China group, which represents more than 130 developing countries, had made a similar pitch in the submission, making clear that anything less than $1.3 trillion in annual financial flows from developed to developing countries for climate action might is not acceptable to the Global South. .
During the intervention, Additional Secretary, Ministry of Environment and India’s lead negotiator at C0, Naresh Pal Gangwar, also reiterated developing countries’ consistent position on the negotiation process and climate finance, and indicated that dilution of the principles of the UNFCCC and the Paris Agreement will not be acceptable to the The Global South keeps in mind the historic responsibilities of the rich countries.