India Rejects Climate Finance Package as Inadequate

India rejected a proposed USD 300 billion climate finance package at the UN climate conference, deeming it insufficient for the Global South. Citing a lack of addressal for developing countries' priorities, India criticized the approval process. Nigeria, Malawi, and Bolivia supported India's stance.

At the UN climate conference in Azerbaijan, India turned down a proposed climate finance package of USD 300 billion, arguing it was insufficient and overdue in addressing the needs of developing nations in the Global South.

Chandni Raina, Adviser, Department of Economic Affairs, expressed India's dissatisfaction, emphasizing the financial package's incompatibility with the principle of Common but Differentiated Responsibilities (CBDR) and equity when dealing with climate change impacts.

Nigeria called the proposed package a 'joke,' while Malawi and Bolivia echoed India's discontent with the adoption process and the perceived inadequacy of the financial aid.

(With inputs from agencies.)