PM Modi addresses World Climate Action Summit at COP-28 in Dubai
Highlights India’s development model, illustrating delicate balance between ecology and economy
Prime Minister Narendra Modi on Friday (1st December 2023) delivered an address at the high-level segment of COP28 in Dubai, extending greetings from the 1.4 billion people of India. Expressing gratitude to the assembled leaders, PM Modi acknowledged their consistent support on crucial issues of climate justice, climate finance, and green credit.
Emphasizing collective efforts, the Prime Minister highlighted the global consensus that the welfare of humanity necessitates safeguarding everyone’s interests and ensuring universal participation. Mr Modi showcased India’s development model, illustrating a delicate balance between ecology and the economy. Despite India being home to 17% of the world’s population, its share of global carbon emissions remains below 4%.
He informed that India is on the course to achieve its Nationally Determined Contribution (NDC) targets, surpassing emissions intensity goals by 11 years and non-fossil fuel targets by nine years. Ambitious future targets include reducing emission intensity to 45% by 2030, increasing the share of non-fossil fuel to 50%, and achieving Net Zero by 2070.
In a proactive move, PM Modi proposed the Green Credits Initiative, a mass campaign extending beyond the commercial aspects of carbon credits. This initiative focuses on creating carbon sinks through public participation, with an invitation for global leaders to join this movement. Expressing urgency in correcting the mistakes of the past century, Mr Modi emphasized the global impact of overexploitation and urged leaders to move beyond self-interest. Stressing the importance of fulfilling commitments, he called for a balanced approach to adaptation, mitigation, climate finance, technology, and loss and damage.
Reflecting on India’s contributions during its G20 presidency, Mr Modi highlighted agreements on a green development pact, sustainable development principles, and a commitment to triple global renewable energy by 2030. India’s promotion of alternative fuels, including hydrogen, and the launch of the Global Biofuels Alliance were also underscored. The Prime Minister announced the Infrastructure Resilience Initiative for Island States (IRIS), aimed at enhancing climate resilience.
PM Modi proposed ensuring a just, inclusive, and equitable energy transition, advocating continuous development of innovative technologies and their transfer to other countries. India, committed to the UN Framework for Climate Change process, offered to host COP33 in 2028. Looking ahead, the Global Stocktake review over the next 12 days is expected to guide the collective efforts towards a secure future, Prime Minister Modi expressed hope in the operationalisation of the Loss and Damage fund and confidence in the success of COP28 hosted by the UAE.
Earlier, UAE President Sheikh Mohammed bin Zayed Al Nahyan and United Nations Secretary-General Antonio Guterres welcomed Prime Minister Narendra Modi to the location of the 28th edition of the climate change conference.
Prime Minister Modi engaged in candid conversations with several world leaders during the introductory photo session at the COP28 venue. These leaders included President Ranil Wickremesinghe of Sri Lanka, King Hamad bin Isa Al Khalifa of Bahrain, Mark Rutte, Prime Minister of the Netherlands, Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister of the United Arab Emirates ; Shavkat Mirziyoyev, President of the Republic of Uzbekistan ; Emomali Rahmon, President of Tajikistan, and King Abdullah of Jordan.
The COP28 conference which commenced on Thursday is scheduled to continue until December 12.
In his address at the World Climate Action Summit – Transforming Climate Finance, Prime Minister Narendra Modi emphasized the critical need for global cooperation in addressing climate change, particularly in providing adequate and accessible climate finance to developing nations.
During his speech, Prime Minister Modi reflected on India’s commitment to sustainable development and climate action during its G20 Presidency. Highlighting the prioritization of these issues, he underscored the importance of collective efforts, making “One Earth, One Family, One Future” the cornerstone of India’s approach.
Addressing the historical minimal role of countries in the Global South, including India, in climate change discussions, Prime Minister Modi acknowledged the profound impact of climate change on these nations. He affirmed the commitment of these countries to climate action, despite resource constraints. The Prime Minister also stressed the essential role of climate finance and technology for the Global South to fulfill their climate commitments. He called upon developed countries to make maximal efforts in supporting these nations, deeming it not only a natural but also a fair expectation.
Referring to agreements reached at the G20, Prime Minister Modi highlighted the necessity for several trillion dollars in climate finance by 2030. He expressed the need for finance that is available, accessible, and affordable, commending the Climate Finance Framework Initiative of the UAE for its potential contributions. Acknowledging the operationalization of the ‘Loss and Damage’ fund, Prime Minister Modi expressed hope for concrete outcomes on other climate finance and climate action subjects at COP28.
He outlined key expectations, including progress on a New Collective Quantified Goal (NCQG) on climate finance, no shortfall on the Green Climate Fund (GCF) and the Adaptation Fund and the immediate replenishment of these funds. Prime Minister also emphasised that multilateral development banks should provide affordable finance for climate action in addition to developmental finance. Prime Minister Modi also welcomed the UAE’s announcement to establish a climate investment fund, viewing it as a positive step towards addressing climate challenges.
