What are Like Minded Developing Countries (LMDCs)?
Recently, most of the developing nations like China, India and African countries, have asked around US $1.3 trillion per year from wealthy countries in climate finance which will start from 2030.
- This demand is likely to cause further consternation even as countries negotiate on this amount at COP26.
- Group of 24 nations, calling themselves Like Minded Developing Countries (LMDCs), and countries from Africa put forward this demand in a proposal to enhance finance flows.
- These countries are pushing for inclusion of proposal in the final decisions which will be agreed at the climate conference in Glasgow.
- India is part of the LMDC grouping along with countries like China, Indonesia, Iran, Malaysia, Sri Lanka, Bangladesh and the Philippines.
Like Minded-Group of Developing Countries (LMDC)
LMDC is a group of developing countries, organised as a block negotiator in international organizations like United Nations and World Trade Organization. LMDC represent about 50% of the world’s population. Member countries of the Like-Minded Group include Bangladesh, Algeria, Bhutan, Belarus, Cuba, China, India, Egypt, Iran, Indonesia, Malaysia, Nepal, Myanmar, Sri Lanka, Pakistan, the Philippines, Syria, Sudan, Vietnam, and Zimbabwe.
The COP26 is the 26th United Nations Climate Change conference. It is being held in Glasgow, Scotland, under the presidency of United Kingdom. It started on October 31 and will conclude on November 12. The CoP comes under the United Nations Climate Change Framework Convention (UNFCCC). UNFCCC was established in 1994.
What are the Goals of COP26?
- To secure global net-zero by mid-century and to keep 1.5 degrees within limit.
- To protect communities and natural habitats.
- To mobilise finance and
- To work together to deliver
Category: International Current Affairs
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