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  • India will emphasize Paris deal red lines on climate finance before COP-29.
    Posted on November 10th, 2024 in Exam Details (QP Included)

    India will emphasize Paris deal red lines on climate finance before COP-29.

    • India aims to increase climate finance, a broad term for funds for climate adaptation, without deviating from Paris Agreement principles.
    • COP-15 agreed on a climate finance target of $100 billion per year by 2020 for developing countries.
    • Disputes exist on the definition of climate finance, including conventional business investments in clean energy projects.
    • OECD claimed the $100 billion target was achieved in 2022.
    • In 2021, countries decided more funding is needed to meet Paris goals.

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