KEY POINTS
- World leaders will be gathering for the COP28 held from Nov. 28 to Dec. 12 under the presidency of the UAE
- Indian Prime Minister Narendra Modi will be on a two-day trip to the UAE from Nov. 30 to Dec. 1 for the summit
- India’s Minister of Finance Nirmala Sitharaman said concrete action was required in terms of funding and transfer of technology
Ahead of Indian Prime Minister Narendra Modi’s two-day trip to the UAE, New Delhi called for concrete action on climate funding and transfer of technology, particularly for developing economies.
Modi will be in the UAE from Nov. 30 to Dec. 1 for the World Climate Action Summit during the COP28, which is being held from Nov. 28 to Dec. 12 under the presidency of the UAE.
The World Climate Action Summit is the High-Level Segment of the 28th Conference of Parties or COP28 to the United Nations Framework Convention on Climate Change.
Modi is expected to hold bilateral meetings with some of the leaders participating in the global climate summit.
“Climate change has been an important priority area of India’s G20 Presidency, and significant new steps have been captured in the New Delhi Leaders’ Declaration and other outcomes during our Presidency. COP-28 will provide an opportunity to take forward these successes,” said a statement by India’s Ministry of External Affairs.
As world leaders and diplomats prepared to gather at the COP28, India’s Minister of Finance Nirmala Sitharaman demanded action instead of words with respect to the funding required to address climate change, particularly for developing economies.
“India will certainly be pushing forward to showcase what it has achieved with its own funds. The Paris commitment given by us has been funded by us. We didn’t wait for the hundred billion that is never on the table. A lot of talk, but no money coming on the table. No pathways to show how technology is going to be transferred,” Sitharaman said Monday during a virtual session at the inaugural event of India Global Forum Middle East and Africa 2023 held in Dubai.
Sitharaman said talks at the COP28 should lead to action on the transfer of technology and actual funding to support countries with mitigation and adaptation actions for climate.
“Particularly for developing and emerging market economies, funding this is going to be a huge challenge,” she said. “So, I would think the conversations can happen; a lot of talks can happen but eventually, COP28 should show the direction, both for the transfer of technology and for the actual funding.”
Intense negotiations were expected to take place at COP28 with discussions on how rich countries can compensate developing nations for climate impacts, fossil fuel usage and methane emissions.
Carbon emissions vary across countries with the world’s top 1% of emitters producing more than 1000 times more CO2 than the bottom 1%. Data from 2021 revealed the average North American emitted 11 times more energy-related CO2 than the average African.
At COP27 last year, world leaders agreed to an ambitious loss and damages fund to support developing nations in managing the negative effects of climate change. Questions about which countries will pay and how much are yet to be addressed.
International aid to help developing countries reduce planet-warming emissions and adapt to climate change is also expected to be debated at COP28.
