India rejects climate finance package citing insufficient funds for developing nations

India has rejected a new climate finance package of USD 300 billion annually by 2035 for developing nations, calling it "too little, too distant." India argues this amount is far below the USD 1.3 trillion needed each year by 2030. During the UN climate conference, India expressed disappointment over the decision-making process, claiming it lacked inclusivity and fairness. Indian negotiator Chandni Raina stated that the proposed funding does not align with the needs of developing countries. The new package, known as the New Collective Quantified Goal, replaces a previous commitment of USD 100 billion from 2009. It aims to gather funds from various sources but does not assign responsibility solely to developed nations.