COP28: India Launches Green Credit Initiative, Proposes To Host COP33 In 2028
Prime Minister Narendra Modi on Friday proposed to host the UN climate conference in 2028 or COP33 in India.
Addressing the UN climate conference COP28 in Dubai, PM Modi said India has presented a great example to the world of striking a balance between development and environment conservation.
How India will achieve NDC target?
India is among only a few countries on track to achieve its Nationally Determined Contributions or national plans to limit global warming to 1.5 degrees Celsius, the guardrail to avoid worsening of climate change impacts.
"Today, India has presented an excellent example of the balance between ecology and economy before the world. 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," he said.?
Need to maintain balance between mitigation and adaptation
The prime minister called for maintaining a balance between mitigation and adaptation and said that energy transition across the world must be "just and inclusive".
He called for rich countries to transfer technology to help developing nations combat climate change.
What is Green Credit?
Prime Minister also expressed his gratitude to the participants of the COP28 summit for their "continuous support of issues like climate justice, Climate Finance and Green Credit raised by" him.
"For a sustainable future, we altogether decided upon green development pacts. We also decided on the principles of the Lifestyle for the Environment (LiFE) initiative. On a global level, India also showed commitment to triple renewable energy," PM Modi added.
The Green Credits Initiative is based on the Green Credit Programme, which the Ministry of Environment notified in October this year, and basically envisions the issue of Green Credits for plantations on waste and degraded lands and the river catchment areas in order to restore their vitality.
"India, also for the sake of alternate fuels, decided to give preference to the hydrogen sector," he added.
PM Modi further went on to say that India's goal is to bring down emissions intensity by 45 per cent by 2030.
"India is committed to UN Framework for Climate Change process. That is why, from this stage, I propose to host COP33 Summit in India in 2028," PM Modi said.
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