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India has consistently urged developed countries to acknowledge their greater historical responsibility for emissions and take lead in mitigation and finance
Delegates from over 200 countries are meeting at COP29 to set the next climate finance goal. (Credit : UN Climate Change)
Pressure is mounting on the wealthier and developed nations at COP29 to ramp up their climate action after the United Kingdom became the first of the G7 to announce its updated Nationally Determined Contributions (NDCs) on the second day. It has pledged to cut its greenhouse gas emissions by 81 per cent by 2035, compared to 1990 levels.
The announcement by UK Prime Minister Keir Starmer came during the high-level segment on Tuesday where heads of countries delivered their national statements, just hours after the final agenda for COP29 was agreed. The UK’s commitment is in line with its national Climate Act to reach net zero emissions by 2050 and comes weeks after it shut down its last-ever coal plant.
Vibhuti Garg, Director, South Asia, Institute for Energy Economics and Financial Analysis (IEEFA), said the UK has demonstrated leadership in revising its NDC for 2025 and other developed countries must follow suit.
“I hope the country will now transition from gas in the next few years. It would also be good to see more financial commitment for the Global South to provide concessional capital for other countries to also move from announcement to action,” she added.
RICH NATIONS UNDER SPOTLIGHT
Countries are required to submit their updated NDCs by February next year setting their climate action plans through 2035. All eyes are on the developed nations led by the US, and the EU who have historically contributed the most to emissions, and are under pressure from Global South to ramp up their climate actions. The US and Japan are also expected to announce their NDCs soon.
Stientje van Veldhoven, World Resources Institute (WRI)’s Vice President and Regional Director for Europe, emphasised that while the UK’s target is a vital step, it should complement broader, sector-specific goals for energy, transport, land use and agriculture. “Goals for specific sectors will send clear signals to the private sector both domestically and abroad,” he added.
India will continue to reiterate its call for respecting the equity, and principles of Common but Differentiated Responsibilities (CBDR) which recognise that climate change is a global issue, but developed nations bear a greater historical responsibility for emissions and should take the lead in mitigation and finance. “India has been vocal and will continue to be vocal about the need for adequate global finance for the Global South,” said a senior official in the environment ministry.
IN A FIRST, CHINA CALLS FOR MOBILISING CLIMATE FINANCE
In a significant statement at the World Leaders Summit on Tuesday, China for the first time referred to climate finance for developing countries in the context of mobilisation, rather than South-South cooperation. In strong support of other developing countries, China’s First Vice Premier Xuexiang Ding urged developed countries to take the lead and move up the timeline for carbon neutrality.
Announcing that China will submit its 2035 targets that are economy-wide and cover all greenhouse gases, he said China will strive to achieve carbon neutrality before 2060.
“Since 2016, China has provided and mobilised more than 177 billion yuan (US $24.5 billion) of project funds in support of other developing countries’ climate response. We call on developed countries to increase financial support and technology transfer for developing countries and expect more ambitious funding targets to be set at COP29 so that confidence and guarantees can be provided for global climate response in the next stage,” he added.
According to Kate Logan, Director of the China Climate Hub and Climate Diplomacy at the Asia Society Policy Institute, this shift reflects China’s readiness to assess its climate finance contributions to developing countries in terms of mobilisation. “This positions China’s contributions on par with — if not higher than — many developed countries’ efforts. For reference, WRI’s research shows that between 2013 and 2018, China’s contributions ranked it fifth globally among all contributors, alongside the UK. This also gives China teeth in pushing developed countries to do more,” added Logan.
Leaders of several vulnerable developing countries took to the stage at the World Leaders Summit on Day 2 to highlight the escalating threats of extreme weather events, including representatives from Serbia, Barbados, and Zimbabwe. Maldives, Libya, Ghana, Marshall Islands called for more focus on adaptation finance.