New Delhi: Protection of everyone’s interests and participation is necessary for world welfare; for this, it is necessary that the countries of the world meet the targets set on carbon emissions at all costs. Despite having 17 percent of the world’s population, India’s share of carbon emissions is only four percent. Despite this, India is rapidly moving towards the goal of net zero carbon emissions by 2070. PM Narendra Modi, who attended the COP-28 held in the United Arab Emirates from November 30 to December 12, not only put forward India’s commitment on climate change to the world but also urged the countries of the world to meet their target.
Prime Minister Narendra Modi attended the COP-28 held in the UAE on December 1 and apprised the world of India’s actions and commitment on climate change and called for meeting the targets set. India is one of the few economies in the world that is on track to meet the Sustainable Development Goals (SDGs). The emission intensity target has already been achieved by India 11 years ago. As India is committed to the UN Framework for Climate Change process, Prime Minister Narendra Modi proposed to host the COP-33 Summit on the platform of COP-28.
India is one of the few economies in the world that is on track to meet the NDC (Nationally Determined Contribution) targets. The country also achieved the target of non-fossil fuel 9 years ahead of schedule. However, India did not stop there. India aims to reduce emissions intensity by 45 per cent by 2030. The country has decided to increase the share of non-fossil fuels to 50 per cent and continue to move towards the goal of zero carbon emissions by 2070.
India has consistently given importance to the theme of climate with the spirit of One Earth, One Family, One Future in its G-20 Presidency. India agreed to a Green Growth Pact for a sustainable future. Not only this, a commitment was made to triple renewable energy. India promoted the field of hydrogen for alternative fuels and also launched the Global Biofuel Alliance. A study by the International Energy Agency says that with this approach, India can reduce carbon emissions by 2 billion tonnes per year by 2030.
PM Modi said,”We don’t have much time to correct the mistakes of the last century. A small part of humankind exploited nature indiscriminately, but the price is being paid by all humanity, especially the inhabitants of the Global South. We have to resolve that every country will fulfil the climate targets it is setting for itself. We have to work together and cooperate with each other. All developing countries must have a fair share of the global carbon budget. It has to be resolved to continuously develop innovative technology. Rise above your self-interest, transfer technology to other countries, and strengthen the clean energy supply chain.”
‘Transforming climate finance’
Speaking at the COP-28 Presidency Session on Transforming Climate Finance, Prime Minister Modi said that India has given a lot of priority to both sustainable development and climate change in the G-20 Presidency. India has been successful in building consensus on many subjects through joint efforts. All the countries of the Global South, including India, have played a very small role in climate change, but its effects are much more felt in these countries. Despite the lack of resources, these countries are committed to climate action. Climate finance and technology are critical to meeting the aspirations of the Global South. The countries of the Global South expect developed countries to help them as much as possible to combat climate change. The G-20 has agreed that climate action requires trillions of dollars of climate finance by 2030. Prime Minister Modi welcomed the announcement by the UAE to set up a Climate Investment Fund.
PM Modi participated in the COP-28 Presidency session
Prime Minister Narendra Modi participated in the COP-28 Presidency Session on ‘Transforming Climate Finance’ in Dubai, United Arab Emirates, on December 1, 2023. The programme focused on making climate finance more accessible and affordable for developing countries. The world leaders adopted the ‘United Arab Emirates Declaration on a New Global Climate Finance Framework’. The declaration includes meeting commitments, achieving ambitious results, and broadening the sources of concessional finance for climate action. Expressing the concerns of the Global South, Prime Minister Modi stressed the urgency of providing the means of implementation, especially climate finance, to developing countries to achieve their climate ambitions and implement their NDCs. PM Modi welcomed the operationalization of Loss and Damage and the establishment of the UAE Climate Investment Fund at COP-28.
PM Modi called for active deliberations on the following issues related to climate finance at COP 28:
Progress on the new collective quantified target on climate finance, replenishment of the Green Climate Fund and Adaptation Fund, affordable finance by the MDBs for climate action, and developed countries to phase out their carbon emissions before 2050
PM’s address at the Green Credit Programme
Prime Minister Modi addressed the high-level event on ‘Green Credit Programme’ at COP-28. In this, he said that the scope of carbon credits is very limited, and this philosophy has been influenced by the commercial element in a way. The carbon credit system lacks the sense of social responsibility it should have. Therefore, a new philosophy has to be emphasised in a holistic manner, and this is the basis of green credit. Prakriti Rakshati Rakshita means nature protects the one who protects nature. From the stage of COP-28, PM Modi called for joining this initiative. Together, let’s build a greener, cleaner, and better future for this planet and for our future generations.
Prime Minister Narendra Modi addressed the Leadership Group for Industry Transition Programme at COP-28, the Green Credit Programme at COP-28, and the COP-28 Presidency Session on Climate Change, besides jointly hosting the second leg of the India-Sweden Leadership Group for Industry Transition.
Jointly hosted the Global Green Credit Initiative
India jointly hosted the Global Green Credit initiative with the United Arab Emirates at COP-28. The Prime Minister of Sweden, the President of Mozambique, and the President of the European Council are also involved in this initiative. PM Modi had invited these countries to join the initiative. A web platform was also launched during the event, which will serve as a compendium of policies and best practices that encourage eco-friendly actions. The objective of this global initiative is to facilitate global engagement, collaboration, and partnership through the exchange of experiences and best practices and the planning of positive actions through programmes like Green Credit.
Hosting the second phase of the Leadership Group for Industry Transition
India and Sweden jointly hosted the second leg of the Leadership Group for Industry Transition during COP-28. PM Modi and Swedish PM Ulf Kristersson jointly launched Phase II of the Leadership Group for Industry Transition (LeadIT 2.0) for the period 2024–26 at COP 28 in Dubai. India and Sweden also launched the Industry Transition Platform, which will connect governments, industries, technology providers, researchers, and think tanks from both countries. Prime Minister Modi informed that LEAD IT 2.0 will focus on the following points:
Inclusive and equitable industry transformation.
Collaborative development and transfer of low-carbon technologies.
Financial support to emerging economies for industry transformation.
Despite having 17 percent of the world’s population, India accounts for four percent of global carbon emissions.