India has called upon the Developed countries to fulfill the agreed commitments relating to the adapting finance needs of Developing countries.
In a statement at the High-Level Ministerial Dialogue Climate Change Adaptation, during the CoP29 to the UN Climate Change Summit at Baku in Azerbaijan, India said, developing countries are suffering the impacts of climate change largely due to the historical emissions of developed countries. The statement read, developing countries are suffering the impacts of climate change largely due to the historical emissions of developed countries. The lives and livelihoods of people in the developing countries are at stake.
Highlighting the urgent requirement of an ambitious flow of financial resources, India asserted that New Collective Quantified Goal (NCQG) needs to address slow Disbursements, lack of Flexibility to adapt to changing requirements, and complex approval procedures with stringent eligibility criteria that make it difficult to access Climate Finance.
The statement also read, the CoP28 Global stocktake decision emphasized the need to bridge the tremendous gap in adaptation, gaps in implementation that arise from the lack of sufficient attention and resources. It said, that at CoP28, parties to the Paris Agreement adopted the UAE Framework for Global Climate Resilience which acknowledges the urgent need for enhanced support and implementation resources from Developed countries to Developing countries.
