The 12-day climate conference (COP29) is going on in Baku, the capital of Azerbaijan. Thousands of representatives from around 200 countries are participating in this conference which started on November 11. The efforts needed to deal with the climate crisis are being discussed in the meeting. During this time, India has also put forward its plan to save the world from climate change.

India said at the COP29 meeting on Thursday that developed countries should commit to giving at least 1.3 trillion US dollars every year to developing countries by 2030. India has said that the new climate finance package that is being negotiated cannot be made an 'investment target'.

Speaking on behalf of like-minded developing countries (LMDCs) on climate finance at COP29, India stressed that grants to developing countries to tackle a warming world should come through concessional and non-debt assistance.

India said, 'The new climate finance package or the new collectively quantified target (NCQG) should be the top priority for COP29 this year and in accordance with the emerging priorities of developing countries. Also, it should be free from restrictive conditions that can hinder the development of developing nations.

Speaking on behalf of India at COP29, Naresh Pal Gangwar said, 'Developed countries need to mobilise at least US$1.3 trillion every year for developing countries by 2030. This support is important to move towards COP30 in Belém, Brazil, where all parties will present details of their national level plans and contributions to tackle the climate crisis.'

Opposing the conversion of NCQG into an investment target, India said that it is clear in the Paris Agreement that only developed countries will raise climate finance. In such a situation, the inclusion of any new target outside the mandate of the United Nations Climate Change Conference and its Paris Agreement is unacceptable. Gangwar said that 'We do not see any scope for renegotiating the Paris Agreement and its provisions.'

In fact, many developing countries including India argue that under the United Nations Climate Change Conference and the Paris Agreement, it is the responsibility of developed countries to raise climate finance for them, but now developed countries are pushing for a 'global investment target'. Which will raise funds from various sources including governments, private companies and investors.

In this matter, climate activist Harjeet Singh says that turning climate finance into an 'investment target' is a betrayal of those who are facing the crisis due to climate change.

He said that 'It is clear for all developing countries including India that they need to be given this fund through grants and non-debt and not through investment schemes that allow rich countries to take advantage of this crisis, which they have played a big role in creating. Anything less than this is doubly unfair.'