India has proposed to host COP33 in 2028, announced Prime Minister Narendra Modi in his address at the first high-level segment at the 28th UN Climate Summit (COP28) in Dubai on Friday. The year’s biggest conference began on Thursday with hundreds of world leaders gathering to hold crucial climate talks.
Terming it as “a pivotal platform for global climate action”, PM Modi said the decision on Loss and Damage Fund taken on Day One has given the world hope, and the first-ever Global Stocktake (GST) during the next two weeks at COP28 will show the world a path towards a secure future.
Speaking at the ceremonial opening of the first part of the high-level segment, where he was the only head of the state on the panel, PM Modi batted for the Global South and demanded a fair share of the remaining Carbon Budget for developing countries. “People living in the Global South are facing devastating impacts of climate change. All developing countries should get a fair share in the global carbon budget. We should move forward in a balanced manner on all fronts – adaptation, mitigation, loss and damage, technology transfer and finance,” he asserted.
The Global Carbon Budget (GCB) refers to the net amount of CO2 humans can still emit without exceeding a chosen global warming limit. As emissions continue rising, this budget has shrunk rapidly over the years.
Despite being home to 17% of the world’s population, India has only contributed 4% of the global cumulative carbon emissions, Modi pointed out, while reiterating the need for a just and equitable energy transition.
He also used the occasion to announce a ‘Green Credit Initiative’, which he referred to as a pro-planet mass campaign that goes beyond the commercial mindset associated with carbon credits. It will focus on creating additional carbon sinks with the participation of people.
Modi reiterated that “India has always walked the talk on climate action, and is among the only few economies in the world that are on track to meeting its climate targets”. Last year, it further raised its ambition on Nationally Determined Contributions (NDC) to achieve a Net Zero by 2070, attain 50% of its cumulative electric power installed capacity from non-fossils and reduce emission intensity of its GDP by 45% by 2030 (by 2005 level).
India also sees itself as the Voice of the Global South, and succeeded in achieving an agreement with the biggest economies “to make efforts to triple renewable energy capacity by 2030” under its G20 Presidency. “The G20 presidency gave high importance to the climate issue. We agreed on Green Development Pact, principles of sustainable living under Mission LiFE and expressed commitment to triple the renewable energy capacity by 2030. We also focussed on the need to take climate finance from several hundred billion to now trillions,” PM Modi said.
Hundreds of world leaders are in attendance at the World Climate Action Summit to hold crucial climate talks. However, US President Joe Biden and China President Xi Jinping remained absent.
Just before departing for Dubai, PM stressed on the importance of supporting the efforts of the developing world with adequate climate financing and technology transfer. “The countries must have access to equitable carbon and development space to achieve sustainable development. At the Voice of Global South Summit convened by India, the Global South spoke for the need for climate action based on the principles of equity, climate justice and common, but differentiated responsibilities (CBDR), as well as a greater focus on adaptation,” he said.
Apart from the opening session, PM Modi will also attend special events, including on climate finance, Green Credit initiative and LeadIT on Friday. He will also meet other world leaders present in Dubai, and discuss ways to accelerate global climate action.
(With inputs from agencies)