Climate Finance ? Polluters must Pay
Article link:
The Hindu - India, Other developing countries demand fair climate finance commitments
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Extract from the article:
India and other developing countries are advocating for fair and equitable climate finance commitments at COP29.
The LMDCs (Like Minded Developing Countries) are emphasizing transparency, fairness, and flexibility in financial commitments.
At the heart of this year's climate summit is the New Collective Quantified Goal (NCQG), which is pivotal in shaping the discussions around climate finance.
Countries are pushing for clear guidelines, mechanisms for monitoring, and the scaling up of resources to support developing nations in their transition towards renewable energy and adaptation measures.
My Take:
Climate Finance Definition Rose By Any Other Name
"Reflecting on the definition of climate finance highlighted in my blog post, it's evident that a clear understanding of financial mechanisms and resource allocations is crucial for effective climate financing.
The emphasis on new and additional flows, along with grants at concessional terms, mirrors the current demands for enhanced provisions by developing countries.
The need for innovative instruments to mobilize finance at affordable costs aligns with the challenges faced in achieving fair and equitable climate finance commitments at COP29."
Call to Action:
To the LMDCs and all countries advocating for fair climate finance commitments, I urge you to continue pushing for transparency, accountability, and increased financial support for developing nations.
Collaborate with experts, policymakers, and international bodies to refine innovative financial mechanisms for mobilizing resources effectively.
Let's work together to bridge the gap between promises made and actions taken, ensuring a sustainable future for all.
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With regards,
www.HemenParekh.ai / 14 Nov 2024
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