Sambhav-2025

Approach

• Introduce the answer by mentioning COP29, its focus on climate finance and mitigation, and its significance for developing nations like India.
• Critically analyze its effectiveness by discussing progress in climate finance, loss and damage fund, fossil fuel phase-out, and equity concerns while highlighting challenges like inadequate funding, reliance on loans, and fossil fuel lobby influence.
• Conclude by emphasizing that while COP29 made some progress, stronger commitments and fair climate action are needed for real impact on developing nations.

Introduction

COP29, held in Baku, Azerbaijan in 2024, aimed to strengthen climate finance and mitigation strategies to meet the goals of the Paris Agreement. Developing nations like India seek fair financing, technology transfer, and equity in emission reduction targets. The effectiveness of COP29 in addressing these concerns is crucial for global climate justice.

Body

Effectiveness of COP29 in Addressing Concerns of Developing Nations

• Increased Climate Finance Commitments: COP29 emphasized fulfilling the $100 billion annual climate finance goal, with new pledges for a post-2025 framework. However, past unfulfilled promises raise concerns about actual disbursement.
  • Example: India requires $10.1 trillion by 2070 for its net-zero goal, highlighting the finance gap.
• Loss and Damage Fund Operationalization: The conference operationalized the Loss and Damage Fund to support nations facing climate-induced disasters. Yet, funding mechanisms and the scale of the fund remain unclear, with pledges falling short of the estimated needs.
  • Example: Pledges to the L&D Fund, while totaling $749.3 million from 26 countries, have seen less than a fifth materialize by the end of 2024, with the US contributing just 13.6%.
• Equity and Common but Differentiated Responsibilities (CBDR): COP29 acknowledged CBDR, stressing that historical emitters must lead mitigation efforts. However, vague commitments from developed nations weaken implementation.
  • G20 nations account for 77% of global emissions, yet developing nations bear the brunt of climate change impacts. Example: India and other emerging economies face increasing climate disasters despite their lower per capita emissions.
• Technology Transfer and Capacity Building: The conference discussed easing technology access for clean energy transitions in developing nations. Yet, high costs and intellectual property barriers persist.
  • Example: India called on developed countries to remove barriers to technology transfer, free availability of green tech, and avoid unfair trade measures disguised as climate action, but these calls were largely unmet.
• Phasing Out Fossil Fuels vs. Development Needs: While COP29 urged a shift to renewables, it lacked a concrete roadmap for developing nations balancing economic growth and emission cuts.
  • Example: India relies on coal for 55% of its power generation, making a sudden transition impractical.
• Climate Adaptation and Resilience Building: COP29 stressed adaptation strategies, but financing for infrastructure resilience remains inadequate.
  • Example:Trillions are needed for clean energy and disaster resilient infrastructure. Without sufficient public finance from developed nations, poorer countries unfairly bear climate costs despite minimal emissions.
• Carbon Market Mechanisms and Fair Implementation: Discussions on global carbon trading at COP29 aimed to benefit developing nations but lacked clarity on equitable credit distribution. Many developing countries, including India, raised concerns about fairness and transparency in carbon markets.
  • Example: India strongly objected to unilateral trade measures like the European Union's Carbon Border Adjustment Mechanism (CBAM), arguing that it unfairly shifts the costs of climate action onto poorer nations, impacting exports and industrial competitiveness.

Conclusion

While COP29 made progress in climate finance and mitigation, its effectiveness for developing nations remains limited due to vague commitments and funding gaps. India and similar countries need assured financial flows, technology access, and fair responsibility-sharing. Future climate negotiations must ensure tangible actions over mere pledges.