In his address at the high-level segment of the COP28 in Dubai, Indian PM Narendra Modi proposed hosting the 33rd Conference of Parties (COP) in India in 2028.
India’s Proposal
Usually, the COP venues are decided two years ahead of the summit. Modi’s proposal to host COP must be approved by the other signatories of the UN Framework Convention on Climate Change (UNFCCC).
If the proposal is accepted, it would be India’s second time hosting the summit since COP8, which was held in the country in 2002.
#COP28
— CEEW (@CEEWIndia) December 3, 2023
"The plan to host COP in India in 2028 is an opportunity for the country to put the issues of the Global South and climate justice front and centre": @GhoshArunabha
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“We don’t have much time to correct the mistakes of the last century,” Modi remarked.
“A small section of mankind has exploited the nature indiscriminately. But the whole humanity is paying its price, especially the residents of the Global South,” he added.
Urging countries to work in unity and cooperate and support each other, the Indian PM said, “We have to resolve that the energy transition should be just, inclusive, and equitable.”
India’s Achievements
“India has set an example for the world to have a perfect balance between Ecology and Economy,” Modi said.
He mentioned that despite accounting for 17 per cent of the world’s population, India’s share in global carbon emissions is less than 4 per cent.
“We have already achieved the targets related to emissions intensity eleven years ago. We have achieved non-fossil fuel targets nine years ahead of schedule,” Modi noted.
The Indian PM also announced that India’s target is to reduce emissions intensity by 45 per cent by 2030, adding that India would increase the share of non-fossil fuels to 50 per cent.
Furthermore, he stressed that India would continue to move towards the goal of net zero by 2070.
Green Credits Initiative, Loss and Damage Fund
While calling the Green Credits Initiative a “pro-planet, proactive and positive initiative” at the summit, Modi hoped that the countries would connect with it.
“This is a campaign that moves beyond the commercial mindset of carbon credit and creates a carbon sink with public participation,” he highlighted.
Additionally, Modi appreciated the decision to operationalise the Loss and Damage Fund in COP28. Specifically, $475 million in initial funding has been pledged to the fund, with the UAE, the EU, the US, and Japan contributing $100 million, $275 million, $17.5 million, and $10 million, respectively.
Climate Finance
In his address at the session on ‘Transforming Climate Finance,’ Modi said “We all know that the role of all the countries of the Global South, including India, has been very less in climate change.”
“But the ill effects of climate change are much greater on them,” he asserted.
Speaking at the session on Transforming Climate Finance during @COP28_UAE Summit. https://t.co/Gx5Q1F7vVO
— Narendra Modi (@narendramodi) December 1, 2023
The Indian leader hoped that COP28 would see real progress on the New Collective Quantified Goal on Climate Finance, there would be no reduction in the Green Climate Fund and Adaptation Fund, and Multilateral Development Banks would provide affordable finance for development as well as climate action.
Additionally, he expressed faith in developed countries’ capability to eliminate their carbon footprint before 2050.