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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