New Delhi, June 11 -- COP29 witnessed a disappointing outcome on climate finance provisions for developing nations - the New Collective Quantifed Goal (NCQG), wherein developed nations set a target of scaling up climate finance commitments from the existing $100 billion per year to $300 billion per year by 2035. Given the enormity of climate finance requirements of developing countries, the outcome signalled the failure of developed countries to fulfill their obligations towards the Global South.

As part of the NCQG outcome, the Baku to Belem Roadmap (B2B Roadmap) was set up by the COP29 and COP30 Presidencies to chart a pathway towards mobilising at least $1.3 trillion by 2035 for developing countries' climate needs. This was captured ...