Azerbaijan. India on Sunday rejected a new US $300 billion climate finance package for the ‘Global South’ at the UN climate conference. India rejected this, saying it was too little and too late.
The ‘Global South’ refers to the weaker or developing countries of the world. Nations agreed a US$300 billion finance deal for the ‘Global South’ to tackle climate change at UN climate talks in Azerbaijan. Giving a statement on behalf of India, the Advisor of the Department of Economic Affairs said that she was not allowed to present her views before adopting the agreement.
He said that US$300 billion is not in line with the needs and priorities of developing countries. This is not in line with the CBDR and the principle of equality. The Indian negotiator said that we are unhappy and disappointed with this process and object to the adoption of this agenda. Nigeria supported India saying the US$300 billion climate finance package is a joke. Malawi and Bolivia have also supported India.