DUBAI: India firmly believes that equity and climate justice must be the basis of climate action and this can be ensured only when the developed countries take the lead in combating climate change, Environment Minister Bhupendra Yadav said here at the COP28 on Saturday.
Delivering the national statement at the high-level segment during the ongoing annual climate conference, Yadav also highlighted India’s contribution to the global actions in restricting temperature rise by reducing emission intensity much ahead of the promised target year as mentioned in the Nationally Determined Contributions (NDCs), country’s action plan for dealing with the impacts of climate change. “In our endeavour to decouple economic growth from greenhouse gas emissions, India has successfully reduced the emission intensity vis-a-vis its GDP by 33 per cent between 2005 and 2019, thus achieving the initial NDC target for 2030, 11 years ahead of the scheduled time,” Yadav asserted. He said India has also exceeded expectations in renewable energy, achieving 40 per cent of installed electric capacity through non-fossil fuel sources, nine years ahead of the 2030 target.
As the COP28 proceedings continue, Yadav said India looks forward to the Global Stocktake’s (GST) outcomes and emphasised the importance of resource mobilisation and new collective, quantified goals based on the needs of the developing countries.
“The resource mobilisation and a new collective quality collective quantified goal must be guided by the needs and requirements of the developing countries. India firmly believes that equity and climate justice must be the basis of global climate action this can be ensured only when the developed countries take the lead in ambitious climate action,” he said.
GST is a two-year review of collective global efforts to achieve the Paris agreement goals, especially the target of limiting global warming to 1.5 degrees Celsius compared to the pre-industrial era (1850-1900). Calling the ongoing climate negotiations as a COP28 of action’, the Minister said it was evident on the first day with the operationalisation of the Loss and Damage Fund.
“India has been at the forefront of supporting action-oriented steps at the global level in response to climate change. The successful operationalisation of the Loss and Damage Fund is a testament to our commitment to a sustainable future,” he said.
He further said that India showcased its dedication to the environment by launching the Green Credit Initiative at COP28 on December 1.
The Initiative aims to create a global trade forum facilitating the exchange of innovative environmental programmes and instruments.
He also reminded PM Narendra Modi’s announcement of LiFE, the Lifestyle for Environment initiative that underscores India’s action-oriented approach.