‘Climate change is treated as a business opportunity rather than an urgent crisis,’ said environment secretary Leena Nandan at IIC, implicating the richer nations.
The UNDP Administrator hailed the carbon market framework and the $300 billion pledged by developed nations as affirmations of the Paris Agreement's commitment.
Recent research shows extreme weather is already costing vulnerable island nations $141 billion each year. This will rise to $1 trillion annually by 2030.
Deciding the quantum and other aspects of climate financing was one of the central aims of this edition of the climate conference, dubbed the 'finance COP' for this reason.
India’s national statement in Baku, Azerbaijan, also called on developed nations to take the lead in reducing emissions and allow adequate carbon space for developing countries.
With COP29, India, Russia, and China can take the lead in climate change mitigation and establish necessary financial protocols. But they must set aside their differences first.
Why should the US care? Because in the end, as its wrangle with Britain this week should have reminded them, America still needs bases, friendly ports, & overfly rights.
Multiple companies have invoked the principle of ‘force majeure’, which lets a party off the hook in case of unforeseen ‘acts of God’, to avoid penalties.
IRIS Lavan was in the region for the International Fleet Review held last month and ‘sought urgent docking in Kochi citing technical issues,’ it is learnt.
Trump has ushered in the age of humiliation. His method is to push around America’s friends rudely and publicly. He knows none of them can afford to fight back.
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