The Prime Minister said at COP-28: “We have to be ambitious. We must resolve that energy transition should be just, inclusive, and equitable. We have to be innovative. We must resolve to continuously develop innovative technology.”

Prime Minister Narendra Modi delivered a special speech at COP-28 in Dubai on Friday, proposing India’s hosting of COP-33 Summit in 2028. He also introduced a groundbreaking initiative for creating carbon sinks through community participation, presenting a new concept of Green Credits for carbon sink development.

Addressing the high-level segment of COP-28, where heads of nations and government officials were present, PM Modi emphasized that COP efforts have established that global well-being is not achievable without securing everyone’s interests and participation. He highlighted the significance of the Green Credit initiative in fostering a commercial mindset towards carbon sink creation through community involvement, expressing hope for the participation of all nations.

PM Modi stated, “We don’t have much time to rectify the mistakes of the past century. A small part of humanity has exploited nature recklessly, and now the entire mankind, especially the residents of Global South, is paying the price.”

He emphasized, “If we only think about our well-being, it will lead the world towards darkness. Every individual in this hall, every head of state, has come here with a great responsibility. We all must fulfill our duties. The entire world is watching us, and the future of this planet is in jeopardy.”

PM Modi asserted, “We must succeed. We need to decide that every country will fulfill its committed climate goals. We must work together, help each other, and commit to cooperation.”

He added, “We should allocate a fair share to all developing countries in the global carbon budget. We need more balance. While advancing, we should maintain balance in adaptation, mitigation, climate finance, technology, and balance in benefit and harm.”

PM Modi urged, “We need to be ambitious. We must resolve that energy transition should be just, inclusive, and equitable. We must innovate. We need to commit to continuously developing new technologies. We must transcend self-interest and transfer technology to other nations. Strengthen the supply chain of clean energy.”

He said, “India is committed to the framework of the United Nations for climate change. I hope that the review of the Global Stocktake over the next 12 days will lead us towards a safe and bright future. The decision to activate the Loss and Damage Fund for tomorrow has raised our hopes.”

PM Modi highlighted India’s commendable balance between environmental and economic aspects on the global stage. Despite being only 17% of the world’s population, India contributes less than 4% to global carbon emissions. He mentioned India’s achievements in meeting National Determined Contributions (NDCs) goals and fulfilling emission intensity targets well ahead of schedule.

He concluded, “We achieved emission intensity targets 11 years ago. We accomplished non-fossil fuel energy goals nine years before the stipulated time.

He said, “But India doesn’t stop here. Our goal is to reduce emission intensity by 45% by 2030. We have decided to increase the share of non-fossil fuel energy to 50%. And we will continue progressing towards net-zero emissions by 2070.

In India’s presidency of the G20, there was a consistent emphasis on the importance of climate issues with the vision of ‘One Earth, One Family, One Future.'”

“For a sustainable future, India reached an understanding on the Green Development Agreement at the helm of G20 leadership. We have derived principles of lifestyle for sustainable development. We are committed to tripling global renewable energy.”

The Prime Minister stated that India has given impetus to the hydrogen sector for alternative fuels and launched the Global Bioenergy Partnership. He said, “In the leadership of India, the G20 reached a consensus that commitments for climate finance need to be increased from billions to trillions.”

PM Modi said, “India has initiated the foundation for resilient infrastructure for island states in Glasgow. India is advancing projects related to this initiative in 13 countries.”

“In Glasgow, I presented the perspective of Mission LiFE – Lifestyle for the Environment. This approach, as per a study by the International Energy Agency, can reduce annual carbon emissions by up to two billion tons by 2030,” he added.

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