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India Champions Climate Justice: The Push for NCQG at Bonn Climate Conference

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India has called for a robust New Collective Quantified Goal (NCQG) on climate finance at the Bonn Climate Change Conference, emphasizing the financial needs of the Global South. This stance highlights the demand for accountability from developed nations to meet their historical climate commitments.

The 60th sessions of the Subsidiary Bodies (SB 60) under the UNFCCC, held in Bonn, Germany, served as a critical mid-year stepping stone toward COP29. A central theme of the conference was the negotiation of the New Collective Quantified Goal (NCQG) on climate finance, which is intended to succeed the previous commitment of $100 billion per year by developed countries. India, representing the interests of the Global South, emphasized that the current scale of climate finance is vastly inadequate. Indian negotiators argued that the NCQG must be responsive to the evolving needs of developing nations, shifting the conversation from 'billions' to 'trillions.' India’s intervention highlighted that climate finance should be public, grant-based or concessional, and additional to existing official development assistance. This is crucial for developing nations to implement their Nationally Determined Contributions (NDCs) without compromising their developmental goals or falling into debt traps.

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