India on Sunday rejected a new climate finance package of US $300 billion for the ‘Global South’ at the United Nations Climate Conference in Azerbaijan. Rejecting this, India said that it is too little and too late.
‘Global South’ is referred to the weak or developing countries of the world. At the United Nations Climate Talks held in Azerbaijan, nations agreed on a US $300 billion finance deal for the ‘Global South’ to deal with climate change. Giving a statement on behalf of India, the advisor of the Department of Economic Affairs said that he was not allowed to put forward his point before adopting the agreement.
He said that US $300 billion is not in line with the needs and priorities of developing countries. It is not in line with 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 that the US$300 billion climate finance package is a joke. Malawi and Bolivia have also supported India.
