**Summary:**
In response to Lok Sabha Unstarred Question No. 3482 on the outcome of COP29, the Ministry of Environment, Forest and Climate Change addressed concerns regarding climate finance commitments made in Baku. The Indian government expressed disappointment with the New Collective Quantified Goal (NCQG), deeming the proposed USD 300 billion annual mobilization target by 2035 insufficient to meet the needs and priorities of developing countries. This target falls significantly short of the estimated USD 5-6.8 trillion required by 2030, or USD 455-584 billion per year, as per the Standing Committee on Finance under the UNFCCC. The government also raised concerns about the inclusion of climate-related outflows and financial efforts by Multilateral Development Banks (MDBs) as contributions towards the USD 300 billion goal, as this would include contributions from developing countries, contravening the UNFCCC and Paris Agreement which mandate that developed countries take the lead in mobilizing climate finance. India has submitted its views on the "Baku to Belm Roadmap to 1.3T," emphasizing that the roadmap must reflect the perspectives of developing countries and adhere to the principles of the UNFCCC and its Paris Agreement, including equity, Common But Differentiated Responsibilities and Respective Capabilities (CBDRRC), and Article 9.1 of the Paris Agreement.
Key Entities Referenced
COP29: The 29th Conference of the Parties to the United Nations Framework Convention on Climate Change.
Baku: Location of COP29.
DR. C M RAMESH: Member of LOK SABHA who raised the question about COP29.
New Collective Quantified Goal: The climate finance goal discussed at COP29.
Common but Differentiated Responsibilities and Respective Capabilities: A principle of the UNFCCC regarding the differing responsibilities of nations in addressing climate change.
United Nations Framework Convention on Climate Change: An international environmental treaty to combat human interference with the climate system.
Paris Agreement: An international agreement on climate change under the UNFCCC.
Baku to Belm Roadmap to 1.3T: A roadmap regarding climate finance leading to a target of USD 1.3 trillion.
GOVERNMENT OF INDIA
MINISTRY OF ENVIRONMENT, FOREST AND CLIMATE CHANGE
LOK SABHA
UNSTARRED QUESTION NO. 3482
TO BE ANSWERED ON 11.08.2025
Outcome of COP-29
3482. DR. C M RAMESH:
Will the Minister of ENVIRONMENT, FOREST AND CLIMATE CHANGE be pleased to
state:
(a) the reaction of the Government at the outcome of COP-29, particularly with climate
finance at Baku;
(b) whether US$300 billion per year by 2035 is sufficient that too from wide varieties of
sources, including private, rather than public finances;
(c) whether the Government has rejected the deal in its present form and if so, the
alternative now for like-minded countries on this deal to get a deal of US$1.3 trillion
per year till 2030;
(d) whether the outcome not mean that COP-29 failed to deliver binding commitments, real
finances and meaningful action to curb climate crisis; and
(e) if so, the way out now for developing countries?
ANSWER
MINISTER OF STATE IN THE MINISTRY OF ENVIRONMENT, FOREST AND
CLIMATE CHANGE
(SHRI KIRTI VARDHAN SINGH)
(a) to (e) India had expressed its disappointment with the New Collective Quantified Goal
(NCQG) outcome of COP 29 at Baku as it does not address the needs and priorities of
developing countries and is incompatible with the principle of Common but Differentiated
Responsibilities and Respective Capabilities (CBDR-RC) and Equity.
The mobilisation target of USD 300 billion annually by 2035 is substantially
insufficient to address the financing needs of developing nations, which are estimated to be
between USD 5.1–6.8 trillion for up to 2030 (or USD 455–584 billion per year) by the Standing
Committee on Finance under United Nations Framework Convention on Climate Change
(UNFCCC).
Further, the categorisation of climate-related outflows and financial efforts by
multilateral development banks (MDBs) as contributions to the USD 300 billion goal would
include contributions from developing countries (which are shareholders in MDBs), despite
UNFCCC and its Paris Agreement mandating that developed countries provide and take lead
in mobilising climate finance for developing countries.
India has submitted its view on the “Baku to Belém Roadmap to 1.3T”. It is mentioned
that the roadmap must reflect the perspectives and concerns of developing country Parties and
that its suggestions must adhere to the principles of the UNFCCC and its Paris Agreement,
including equity, common but differentiated responsibilities and respective capabilities
(CBDR-RC) and the principles of Article 9.1 of the Paris Agreement.
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