Amitabh Sinha

In the final agreement reached at COP28 in Dubai, countries had agreed to transition away from fossil fuels.

The minister said the finance agreement being negotiated at COP29 must be founded on principles of climate justice.

That could undo a very significant, though symbolic, victory that was achieved in Dubai at last year's climate conference.

As the world's biggest emitter, China needs to cut its emissions for global climate goals to be met. But if China did curb its emissions, the deployment of renewable energy would slow down almost everywhere in world.

Speaking on behalf of the Like Minded Developing Countries (LMDCs), a group that also includes India and China, a Bolivian negotiator complained of “imbalance” in the discussions and the negotiating process.

The study by researchers at Cornell University’s Cornell Atkinson Centre for Sustainability showed that the developed countries stood to gain 2 to 15 times return on their money over a 10-year period if they only financed the entire mitigation requirements of developing nations.

Several countries, including India and Saudi Arabia, objected to references being made to one particular paragraph in GST which had asked all countries to transition away from fossil fuels, triple renewable energy by 2030, reduce emissions of non-CO2 gases including methane, and phase-down coal, among other things.

The conference has now gone into extra time as developing countries made a concerted effort to extract a better offer.

The BJP's strategic groundwork has paid off, significantly impacting the MVA's Muslim-Dalit-Maratha vote bank and uniting Maharashtra behind the BJP-led Mahayuti.

The groups of small island states and least developed countries said this in no way reflected their needs and decided to walk out of the meeting. More backroom negotiations were called for. The talks, scheduled to end on Friday, is headed into Sunday.