COP28: PM Modi Asks Developed Nations To Fully Decrease Carbon Footprint By 2050, Applauds Fund To Combat Climate Change

Speaking at the session on Transforming Climate Finance at the COP28 Summit, Prime Minister Narendra Modi implored developed nations to fully decrease their carbon footprint intensity by 2050 and highlighted that India has given "utmost priority" to sustainable development and climate change.

He also expressed approval for the activation of the 'Loss and Damage Fund', designed to assist vulnerable nations in managing the effects of climate change. In his earlier speech at the summit's opening session, he proposed that India should host COP33 in 2028.

"To fulfil the aspirations of the Global South, Climate Finance and Technology are essential. It is the expectation of countries in the Global South that, to combat climate change, developed countries help them as much as possible. This is natural and justified," Modi said.

The PM added, "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 immense. Despite lack of resources, these countries are committed to climate action."

"We made 'One Earth, One Family, One Future' the foundation of our (G20) presidency, and we were successful in obtaining consent on several issues with collective efforts," he further said.

PM Modi emphasised that an agreement was reached during the G20 Summit, highlighting the necessity for "several trillion dollars" until 2030 to fund climate action, India Today reported.

He added, "Climate finance must be made available, accessible, and affordable. I am hopeful that the climate finance framework initiative introduced by the UAE will emphasise these aspects."

The climate change conference's 28th iteration commenced on Thursday and is scheduled to continue until 12 December. This marks Modi's third attendance at the World Climate Action Summit, following his previous visits to Paris in 2015 and Glasgow in 2021. Upon his arrival, the Indian community in Dubai warmly welcomed him.

The primary objective is to carry out an inventory check to assess the advancements made in the worldwide battle against climate change, and to determine ways to bolster climate initiatives undertaken by nations.

Previously, India reaffirmed its inability to cease its dependence on coal for power generation in the near future, despite its swift escalation of renewable energy sources to facilitate a speedy shift to eco-friendly power.

"Coal has always been, and will continue to be, a crucial component of India's energy mix as we strive to meet our developmental goals," stated Foreign Secretary Vinay Mohan Kwatra in a press briefing in New Delhi, preceding the Prime Minister's trip to Dubai.