Prime Minister Narendra Modi, on Friday, said India has presented an excellent example of the balance between ecology and economy before the world. Addressing the high-level segment for heads of states and governments during the UN climate conference COP 28 in Dubai, the prime minister said despite India being home to 17 per cent of the population of the world, its contribution to Global Carbon Emissions is less than 4 per cent.
India is one of those few economies of the world that is on the path to meeting NDC (nationally determined contributions) targets, the PM said and added that the country reached its non-fossil fuel targets nine years before the deadline.
“India’s goal is to bring down emissions intensity by 45 per cent till 2030. We have decided to increase the share of non-fossil fuel to 50 per cent. We will also keep going ahead towards our goal of net zero by 2070,” the prime minister said.
Modi proposed to host the UN climate conference in 2028 or COP33 in India and launched the Green Credit Initiative focused on creating carbon sinks through people’s participation.
He called for maintaining a balance between mitigation and adaptation and said energy transition across the world must be “just and inclusive”. The PM urged rich countries to transfer technology to help developing nations combat climate change.
He hailed the ‘historic’ decision of the UAE presidency to operationalise the $475 million ‘Loss and Damage’ fund, just moments after the opening of the two-week COP28 climate conference on Thursday. It will compensate countries — especially developing ones — for the impacts of floods, droughts and heat waves.
Speaking at a session on Transforming Climate Finance during the COP28 World Climate Action Summit, PM Modi asserted that India has given the utmost priority to achieving sustainable development and climate change. He also congratulated the UAE President for announcing the Climate Investment Fund.
“We all know that countries in the Global South, including India, have had less of a role to play in climate change. But the impact of climate change on them is massive. Despite a lack of resources, these countries are committed to climate action. To fulfill the aspirations of Global South, climate Finance and technology are essential,” he said in his address.