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Economic Times
25-06-2025
- Business
- Economic Times
In Bonn, India leads climate finance fight for developing world ahead of COP30
Developing nations, led by India, are pushing for climate finance accountability at the Bonn climate conference, demanding developed countries fulfill their obligations under Article 9.1 of Paris Agreement. Dissatisfaction with COP29's climate finance outcomes fuels the push to include Article 9.1 as a formal agenda item at COP30. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads ( Originally published on Jun 24, 2025 ) Backed by strong interventions led by India, coalitions such as G77+China, the Like-Minded Developing Countries (LMDC), Alliance of Small Island States (AOSIS), Least Developed Countries (LDCs), and the African Group of Negotiators (AGN) came together to raise the issue of climate finance accountability at the ongoing SB62 Bonn climate conference The mobilisation of developing nations at Bonn is likely to set the tone for the upcoming COP30 in Brazil, where there is expected to be a strong push to include Article 9.1 of the Paris Agreement as a formal agenda item. This comes against the backdrop of widespread disappointment with the climate finance outcomes at COP29 in Baku in Bonn conference - an annual precursor to the COP - has seen a standoff between developed and developing countries over including Article 9.1 as a standalone agenda item. The article underscores the obligation of developed countries to provide financial resources to support both mitigation and adaptation efforts in developing the demand to list Article 9.1 formally on the agenda was not accepted, the conference Chairs permitted a formal consultation on the issue on June 23. India and Bolivia led the discussions, with active interventions from Nigeria, Chad, and the Arab the heart of the debate is Article 9.1 of the Paris Agreement, which states: "Developed country Parties shall provide financial resources to assist developing country Parties with respect to both mitigation and adaptation in continuation of their existing obligations under the Convention."However, developing nations argue that the poor implementation of Article 9.1 has undermined both climate equity and trust in the global climate regime. Most climate finance, they note, continues to be in the form of loans rather than grants, increasing the financial burden on vulnerable made a forceful pitch during the formal consultation, describing Article 9.1 not just as a moral imperative, but a legal obligation and the "cornerstone of climate equity." It cautioned that strategic deflections from the issue would only delay global climate action and asserted that the commitment cannot be replaced by loosely defined or indirect support concern over what it called a weakening of multilateralism in climate action , India stressed that implementing Article 9.1 was essential to restoring credibility, balance, and trust in the climate also termed the New Collective Quantified Goal (NCQG) on climate finance, announced at COP29 in Baku, as "grossly inadequate," "incomplete," and an "eyewash," sources told Indian delegation also flagged shifting narratives that place unrealistic burdens on developing countries, ignoring their domestic priorities and development challenges. It emphasised that additional climate finance must not come at the cost of undermining national development goals.
Time of India
24-06-2025
- Business
- Time of India
In Bonn, India leads climate finance fight for developing world ahead of COP30
Backed by strong interventions led by India, coalitions such as G77+China, the Like-Minded Developing Countries (LMDC), Alliance of Small Island States (AOSIS), Least Developed Countries (LDCs), and the African Group of Negotiators (AGN) came together to raise the issue of climate finance accountability at the ongoing SB62 Bonn climate conference . The mobilisation of developing nations at Bonn is likely to set the tone for the upcoming COP30 in Brazil, where there is expected to be a strong push to include Article 9.1 of the Paris Agreement as a formal agenda item. This comes against the backdrop of widespread disappointment with the climate finance outcomes at COP29 in Baku in 2024. The Bonn conference - an annual precursor to the COP - has seen a standoff between developed and developing countries over including Article 9.1 as a standalone agenda item. The article underscores the obligation of developed countries to provide financial resources to support both mitigation and adaptation efforts in developing nations. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo Although the demand to list Article 9.1 formally on the agenda was not accepted, the conference Chairs permitted a formal consultation on the issue on June 23. India and Bolivia led the discussions, with active interventions from Nigeria, Chad, and the Arab Group. At the heart of the debate is Article 9.1 of the Paris Agreement, which states: "Developed country Parties shall provide financial resources to assist developing country Parties with respect to both mitigation and adaptation in continuation of their existing obligations under the Convention." Live Events However, developing nations argue that the poor implementation of Article 9.1 has undermined both climate equity and trust in the global climate regime. Most climate finance, they note, continues to be in the form of loans rather than grants, increasing the financial burden on vulnerable economies. India's Stand at Bonn India made a forceful pitch during the formal consultation, describing Article 9.1 not just as a moral imperative, but a legal obligation and the "cornerstone of climate equity." It cautioned that strategic deflections from the issue would only delay global climate action and asserted that the commitment cannot be replaced by loosely defined or indirect support mechanisms. Expressing concern over what it called a weakening of multilateralism in climate action , India stressed that implementing Article 9.1 was essential to restoring credibility, balance, and trust in the climate regime. India also termed the New Collective Quantified Goal (NCQG) on climate finance, announced at COP29 in Baku, as "grossly inadequate," "incomplete," and an "eyewash," sources told ET. The Indian delegation also flagged shifting narratives that place unrealistic burdens on developing countries, ignoring their domestic priorities and development challenges. It emphasised that additional climate finance must not come at the cost of undermining national development goals.
