Highlights of the Indian PM Speech at the COP28

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What’s in Today’s Article?

  • Why in News?
  • India’s own Actions Towards Climate Change
  • Highlights of the Indian PM’s Speech at the COP28
  • India Raising Common Concerns of the Developing Countries at the COP28
  • Issue of Climate Finance and Climate Budget Raised at the COP28

Why in News?

  • Urging countries to rise above self-interest and deliver on all their climate obligations, Prime Minister Narendra Modi said that developing countries must get appropriate access to the remaining global carbon budget.
  • Speaking at the high-level segment of the COP28 meeting in Dubai (UAE), he also proposed to host the 2028 climate change conference, COP33, in India.

India’s own Actions Towards Climate Change

  • India has hosted the annual climate change conference called the conference of parties (COP) of the UNFCCC once earlier - COP8 in 2002.
    • Then, the scale of this conference used to be much smaller unlike the most high-profile annual event that it has evolved into now, attracting the attendance of over 100 heads of states and governments, etc.
  • India was among very few large economies which were on track to fulfil their climate commitments.
  • The global climate initiatives India had launched are -
    • International Solar Alliance,
    • Coalition of Disaster-Resilient Infrastructure,
    • Lifestyle for Environment (LiFE) Campaign and
    • Decisions like Renewable Energy Tripling and Global Biofuels Alliance taken by the G20 summit under India’s presidency.
  • The Indian Environment Ministry recently launched Green Credits Initiative, which provides a way for incentivising environmental actions by offering green credits for projects that help the environment in any way.
    • In its first round, activities in water conservation and afforestation would be acknowledged.

Highlights of PM Modi’s Speech at the COP28

  • The world does not have much time to correct the mistakes of the previous century. The world also will have to be ambitious (in our climate actions).
  • Countries need to rise above their narrow self-interests, and fulfil all their climate obligations.
  • The energy transition (that is required) has to be just, inclusive, equitable and innovative.
  • The world must develop innovative technology and the developed countries must agree to transfer this technology to others.
  • India’s Green Credits Initiative (is a pro planet, proactive and positive initiative) is something that the entire world should adopt.
    • It is an alternative market-based mechanism that prioritises public participation in environment positive projects.

India Raising Common Concerns of the Developing Countries at the COP28

  • The Indian PM repeatedly referred to ‘Global South’ as he called for more climate finance, technology, and carbon space during his speeches at the COP28 meeting.
    • Global South is a new term for developing countries that does not refer to geographical north or south of the equator.
    • India has held two Voice of Global South Summits this year in an effort to take leadership of the developing countries, and amplify their concerns at international forums.
  • The countries of the Global South (including India) have contributed very little in causing climate change. Yet, the adverse impacts of climate change affect them the most.
  • Despite lack of adequate resources, these countries have committed themselves to take climate action. But to fulfil their objectives, the Global South needs climate finance and technology.
  • This is natural and justifiable too for the Global South to expect that developed countries help them in the fight against climate change.

Issue of Climate Finance and Climate Budget Raised at the COP28

  • The G20 meeting had agreed that 2030 climate action requires trillions of dollars in climate finance.
  • This climate finance has not only to be made available, but it must also be accessible and affordable (to the countries of Global South).
  • The Indian PM welcomed the operationalisation of the loss and damage fund on the opening day of COP28.
  • There is a hope that -
    • The COP28 would show real progress on the New Collective Quantified Goal (a new target in the place of US$ 100 billion per year from 2025 onwards) on Climate Finance.
    • The Green Climate Fund and Adaptation Fund must not be starved of money, and they should also be replenished immediately.
    • The Multilateral Development Banks should assure that they would provide affordable finance, not just for development projects, but also for climate action.
    • The developed countries would diminish their carbon footprint by 2050.
  • The Indian PM also stressed that developing countries must get to utilise an appropriate share in the fast-depleting carbon budget.
    • Carbon budget is the amount of GHG emissions that science says can be allowed without breaching the 1.5-degree Celsius temperature target.

Q1) What is the UN Framework Convention on Climate Change (UNFCCC)?

The UNFCCC established an international environmental treaty to combat dangerous human interference with the climate system, in part by stabilising GHG concentrations in the atmosphere. It was signed by 154 states at the UNCED, informally known as the Earth Summit, held in Rio de Janeiro in 1992.

Q2) What is the Lifestyle for Environment (LiFE) Campaign?

The concept of LiFE was introduced by the Indian PM at COP26 in Glasgow in 2021. It calls upon the global community of individuals and institutions to drive LiFE as an international mass movement towards “mindful and deliberate utilisation” to protect and preserve the environment.

Source: PM Modi pitches India as host for climate conference in 2028, calls on countries to rise above self-interest | IE