PM Modi launches 'Green Credit' plan, moots COP33 in India : The Tribune India

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PM Modi launches 'Green Credit' plan, moots COP33 in India

Aditi Tandon &

Aksheev Thakur

Tribune News Service

New Delhi, December 1

Prime Minister Narendra Modi today proposed India as the host of COP33, the UN climate conference in 2028, calling upon nations to work sincerely on carbon emission cuts, and announced a new “Green Credit” initiative to achieve climate action goals.

PM meets Prince Charles.

India hosted COP8 in 2002

India had hosted COP8 in New Delhi in 2002 where countries adopted the Delhi Ministerial Declaration, which called for efforts by developed countries to transfer technology and minimise the impact of climate change on developing countries.

Aiding climate action initiative

  • Green Credit Initiative: Focuses on water conservation, afforestation
  • Green Climate Fund: Proposed at 2009 talks, yet to hit $100 bn annual goal
  • Adaptation Fund: Helps developing countries adjust to climate impacts

Addressing a high-level segment of the Conference of Parties 28 (the body that reviews the implementation of the UN Framework Convention on Climate Change) in Dubai today, the PM said the world did not have much time to correct the mistakes of the past century. Stressing the need for giving developing countries their due share in the global carbon budget, the PM said nations had to be more balanced in their approach to climate action and though they had to be ambitious, “energy transition should be just, inclusive and equitable”. Modi advocated a balance between adaptation, mitigation and climate finance, noting, “We do not have much time to correct the wrongs of the past century. A small portion of humankind has heavily exploited the earth. The whole world, especially the Global South, has had to pay the price. The approach of self-interest will lead the world towards darkness. All nations will have to fulfil their commitment to climate goals.”

PM Narendra Modi with UK PM Rishi Sunak during COP28, in UAE. PTI

India, the PM said, had presented a fine example of “balancing development and ecological concerns” and was among the few economies on track to achieve the Nationally Determined Contributions (NDCs) — goals to restrict global warming to 1.5°C.

Modi was the only leader to join COP28 opening plenary along with President Sultan Al Jaber and UN Climate Change Executive Secretary Simon Steill. The PM reiterated India’s commitment to climate goals and announced the Green Credit initiative, which he described as “a pro-planet, proactive and positive initiative”. “Despite housing 17% of the world population, India contributes less than 4% of the global carbon emissions,” the PM said seeking a fair share for developing nations in the carbon budget.

Modi was speaking in reference to the fact that the developed nations had consumed over 80% of the global carbon budget, leaving very little for the developing and poor nations. Listing India’s climate action goals — reduction in emissions intensity (of the GDP) by 45% by 2030 from the 2005 levels and achievement of 50% cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030 — Modi said, “We will keep progressing towards the goal of net zero emissions by 2070.”

The PM mentioned how India during its G20 presidency forged consensus on the Green Development Pact which noted that the developing countries would need USD 5.8-5.9 trillion in the pre-2030 period, particularly to implement their NDCs and spoke of climate finance in trillions rather than billions. Addressing a session on “Transforming Climate Finance” at COP28 in Dubai later, PM Modi said rich and developed countries should completely reduce their carbon footprint well before 2050.

#Narendra Modi

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