New Delhi/Dubai: Prime Minister Narendra Modi took center stage at COP28, outlining India’s significant strides in climate action and unveiling ambitious proposals. Emphasizing India’s commitment to fulfill climate pledges, Modi advocated hosting the UN climate conference in 2028, proposing a groundbreaking ‘Green Credit Initiative’ aimed at engaging citizens in creating carbon sinks.
During the conference’s second day, Modi urged wealthier nations to expedite carbon footprint reduction and allocate a fair share of the global carbon budget to developing countries before 2050. He called for substantial financial aid to help developing nations combat climate change effectively.
Introducing the ‘Green Credit Initiative,’ Modi highlighted its emphasis on grassroots carbon sink creation through public engagement. Participants undertaking eco-positive actions will earn tradable green credits, digitizing the entire process from registration to issuance.
Furthermore, India’s proposal to host COP33 in 2028 could mark a significant global conference following its successful G20 Summit. Modi highlighted India’s efforts during COP8 in 2002, advocating for technology transfer and climate impact reduction in developing nations.
Collaborating with Swedish Prime Minister Ulf Kristersson, Modi launched LeadIT 2.0, aiming to develop low-carbon technologies and support industry transitions in developing countries.
Modi urged immediate replenishment of the Green Climate Fund and the Adaptation Fund to address climate change impacts effectively. Additionally, he stressed the need for a comprehensive climate finance goal beyond the existing USD 100 billion target.
Highlighting India’s exemplary progress in meeting Nationally Determined Contributions (NDCs), Modi outlined the nation’s achievements in reducing emissions intensity and shifting to non-fossil fuel-based energy resources ahead of schedule. India aims for a 45% emissions intensity reduction and 50% non-fossil fuel energy by 2030, aspiring to be a net-zero economy by 2070.
India’s G20 Presidency this year culminated in the Green Development Pact, shifting focus to trillion-dollar investments necessary for energy transition. The Pact recognized developing nations’ financial requirements, estimating USD 5.8-5.9 trillion pre-2030 for NDC implementation.
PM Modi’s address encapsulated India’s proactive climate actions, pushing for global cooperation, fair climate finance, and sustainable development to combat climate change effectively.