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PM Modi again dominates the international stage of COP28, launches ‘Green Credit’ initiative in UN climate talks

Image Source : PTI
Narendra Modi, Prime Minister.

Prime Minister Narendra Modi has once again given the entire country an opportunity to be proud at the international level. Prime Minister Narendra Modi has launched a new initiative of ‘Green Credit’ in the ongoing United Nations Climate Change Summit (COP-28) in Dubai. On Friday, he said at the COP-28 forum that the world does not have much time to correct the mistakes of the last century. Therefore, I am announcing the launch of ‘Green Credit’ initiative focused on creating ‘Carbon Sink’ through people’s participation.

PM Modi also proposed India hosting the United Nations Climate Conference or COP-33 in 2028. Addressing the high-level session of Heads of State and Government during the United Nations Climate Conference (COP28), Modi called for proactive and positive earth-friendly initiatives, saying the ‘Green Credit’ initiative goes beyond the commercial mindset associated with carbon credits. . “It focuses on creating ‘carbon sinks’ through people’s participation and I invite all of you to join this initiative,” he said, emphasizing that the world has a lot to offer in the last century. There is not much time to correct mistakes. The initiative is similar to the ‘Green Credit’ program notified in the country in October.

What is green credit?

Green credit is a market-based innovative mechanism designed to reward voluntary environmental actions by individuals, communities and the private sector in a variety of sectors. Modi said that India has set a great example for the world by striking a balance between development and environmental protection. He said India is one of the few countries in the world that is on track to achieve its nationally determined contributions or national plans to limit warming to 1.5 degrees Celsius. Modi was the only leader to join COP28 President Sultan Al Jaber on the stage along with UN Climate Change Executive Secretary Simon Still at the opening session.

Humanity is paying the price of indiscriminate exploitation in the last century

PM Modi said that in the last century, a small section of humanity exploited nature indiscriminately. However, humanity as a whole is paying a price, especially those living in the ‘Global South’. The term ‘Global South’ is often used to refer to developing and least developed countries, primarily in Africa, Located in Asia and Latin America. “Thinking only about one’s own interests will only take the world into darkness,” the Prime Minister said. Modi’s statement came in the context of how poor and developing countries are facing a changing climate due to rising temperatures due to historic carbon emissions by rich countries. As a result, we have to bear the brunt of climate related extreme events like floods, droughts, heat waves, cold waves etc.

PM Modi called for energy transformation

The Prime Minister called for maintaining a balance between climate change mitigation and adaptation and said the energy transition around the world must be “equitable and inclusive”. He called for the transfer of technology from rich countries to help developing countries deal with climate change. The Prime Minister is advocating a ‘Life for Environment’ campaign, urging countries to adopt earth-friendly lifestyles and move away from intense consumerist behaviour. Citing a study by the International Energy Agency (IEA), he said this approach (LIFE campaign) could reduce carbon emissions by two billion tonnes. He called on countries to work together and take decisive action against the climate crisis.

India will reduce emissions by 45 percent by 2030

The Prime Minister said, “India is one of the few economies in the world that is on track to achieve its NDC (Nationally Determined Contribution) targets.” years ahead of schedule and achieved non-fossil fuel targets nine years ahead of schedule. “India is not stopping here, we remain ambitious,” he said. The country aims to reduce the emissions intensity of GDP by 45 per cent from 2005 levels by 2030 and achieve zero emissions from non-fossil fuel-based energy by 2030. 50 percent cumulative power installed capacity is to be achieved from resources. It has also committed to becoming a ‘net zero’ economy by 2070. (Language)

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