Prime Minister Narendra Modi said at the COP28 event that India is ready to host COP33 in 2028. The prime minister was addressing the assembly on Friday. He arrived in the Arabian nation on Thursday night where the annual climate summit is being held this year.
PM Modi said that the world needs to invest trillions, not billions, to fight climate change. He announced the launch of green credit programme and asked world leaders present at the event to join the initiative.
The COP28 summit is the first meeting after the 2015 Paris Agreement where the will take stock of achievement of targets laid out in the plan. Warning about the effects of not meeting the targets, PM Modi said, "Presently, global south is facing the heat of global warming. We need to ensure that countries meet the climate mitigation targets set by themselves."
The prime minister also talked about the global biofuel alliance which launched in India earlier this year during the G20 summit. He said that the country is on track to achieve its non-fossil capacity target by 2030. "Despite being 17 per cent of global population, India is only responsible for 4 per cent of carbon emissions," PM Modi added.
At the summit, India's dependence on coal powered plants is expected to come into focus. France and US are reportedly planning to propose a ban on private financing for coal-based power plants. India has previously opposed a blanket ban on thermal power plants, asserting that they are important for meeting the rising energy demand.