- SFG FRC 2027 | Program starts from 19th Dec. 2026 | Admissions open for Entrance Test Click Here to know more →
- Prelims Test Series (PTS) for Prelims 2027 starts 11th Oct. 2026 Click Here to know more →
- [Pre-order] Ethics Redbook 3rd Edition: Delivery starts from 10th October onwards Click Here to Read More →
- 21 Sept. | GS Advance Program (GSAP) for UPSC 2027 Mains starts from 11th Oct. Click Here to Read More →
News: The main goal of the Conference of Parties 29 was to finalise the New Collective Quantified Goal (NCQG). However, the developing countries remain dissatisfied with the amount agreed under the NCQM.
1. The New Collective Quantified Goal (NCQG) refers to the money to be given by the developed countries to the developing countries to enable them to meet their climate goals.
2. The Paris Agreement had provided for a NCQG to be decided before 2025. However, it did not specify the year from which the amount has to be mobilised.
3. At the COP29, the developing countries had demanded a mobilisation of at least 1.3 trillion dollars a year in climate finance.
4. While the developed countries agreed to a sum of just 300 billion dollars a year, starting from 2035.
5. India has strongly opposed this amount as it is insufficient for the developing countries to meet their climate goals.
6. The developing countries demanded that the amount should be financed from public sources. However, the agreement focussed on raising finance from a variety of sources, including public, private, bilateral, multilateral and alternative sources.
