climate finance – Bhartiyanews24x7

BAKU: With negotiations at COP29 entering the second week, India on Monday opposed any kind of unilateral trade barrier and pitched for ‘four important aspects of global climate action’, saying the ambitious action oriented approach hinges on bold actions from those countries (developed nations whose high historical emissions led to climate change) who are obligated to take the lead in economy-wide emission reductions.In a clear reference to the EU’s Carbon Border Adjustment Mechanism (CBAM), New Delhi pointed out how some countries are shifting to ‘unilateral measures’ resulting in shifting of financial burden of mitigation actions to developing nations. The CBAM is a tool to put a price through imposing border tax on carbon intensive goods, like iron & steel, aluminium and cement, th...

The UN's climate chief called on leaders of the world's biggest economies on Saturday to send a signal of support for global climate finance efforts when they meet in Rio de Janeiro next week. The plea, made in a letter to G20 leaders from UN Framework Convention on Climate Change Executive Secretary Simon Stiell, comes as negotiators at the COP29 conference in Baku struggle in their negotiations for a deal intended to scale up money to address the worsening impacts of global warming. "Next week's summit must send crystal clear global signals," Stiell said in the letter. He said the signal should support an increase in grants and loans, along with debt relief, so vulnerable countries "are not hamstrung by debt servicing costs that make bolder climate actions all but impossible". Business ...

Tag: climate finance

COP29: India opposes EU plan for border tax on carbon-intensive goods, seeks bold action from rich nations | India News – Times of India

UN climate chief asks G20 leaders for boost as finance talks lag – Times of India