ByJayashree Nandi, New Delhi
Nov 16, 2024 02:14 AM IST
India stressed that climate policies to reduce emissions should focus on concessional finance and capacity building for mitigation and adaptation.
India made a forceful intervention against unilateral trade measures at the COP29 climate talks, demanding its inclusion in the conference agenda, joining similar calls from G77 and China, the BASIC group (Brazil, South Africa, India and China), and Like Minded Developing Countries (LMDC).
During Presidential consultations on the BASIC agenda proposal on Friday, India’s negotiator warned: “These measures discriminate against countries seeking to industrialise through export-led growth, by raising the cost of exports and getting emerging and developing economies to finance carbon transition without flow of adequate technology and finance as mandated in United Nations Framework Convention on Climate Change (UNFCCC) and the Paris agreement.”
India expressed strong support for BASIC’s proposal to address rising protectionism through trade barriers from “arbitrary and unjustifiable unilateral measures” within the COP and SBs (supervisory bodies) agenda. The country also aligned itself with Bolivia’s statement on behalf of LMDC.
India emphasised that effective climate policies to reduce emissions should prioritise concessional finance and capacity building support for both mitigation and adaptation, rather than imposing unilateral trade measures. “Any unilateral measures in the name of climate change responses are discriminatory towards developing countries, and detrimental to multilateral cooperation. They violate principles of equity and common but differentiated responsibilities and the UNFCCC provisions,” India stated.
The country warned that imposing trade-related climate measures unfairly burdens developing and low-income countries with the costs of transitioning to low-carbon economies.
“In the end, while we as part of BASIC have been flexible on the agenda being considered under Presidential Consultations, we feel it is a matter of global concern that needs urgent consideration so that the development pathways of the developing countries are not constricted,” India’s statement concluded.
The intervention follows BASIC’s November 5 request for a separate agenda item on unilateral trade restrictions, reflecting growing concerns about measures like the European Union’s Carbon Border Adjustment Mechanism (CBAM) and deforestation regulations, scheduled for implementation in 2026.
“BASIC is of the view that UNFCCC Parties are obligated to send a clear and strong signal of commitment to multilateralism and global cooperation as the most effective and just manner to respond to climate change,” the group had stated, advocating for cooperative solutions over unilateral trade restrictions.
Trade tensions have emerged as a significant factor shadowing COP negotiations, as previously reported by HT on November 10.
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