At COP28, India expects a "clear roadmap" on climate financing
India expects a clear roadmap on climate financing during the COP28 starting today, where world leaders, including Prime Minister Narendra Modi, will converge to chalk out strategies for climate mitigation.
«Climate finance and climate technology are a very crucial segment of all the global efforts in addressing this challenge of environmental degradation. We expect a clear roadmap to be agreed at COP28 on climate finance which would be important for delivering on the new, collective, quantified goals...,» foreign secretary Vinay Mohan Kwatra told media persons here in the national capital.
Climate finance typically refers to any financing that seeks to support mitigation and adaptation actions that will address climate change.
Asked what India's stance on the reduction of coal consumption for its energy requirements was, Kwatra said, «Coal is and would remain an important part of India's energy mix, it has always been, as we move forward to meet our developmental priorities in the country.»
«We are proactive in taking practical climate action measures and basing them on a firm conceptual understanding and a very firm belief our development has to be a green development,» he said, adding that though it would be subject to India's own developmental priorities.
PM Modi committed to an ambitious five-part «Panchamrit» pledge at COP26 held in 2021.
They included reaching 500 GW of non-fossil electricity capacity, generating half of all energy requirements from renewables, to reducing emissions by 1 billion tonnes by 2030.
India also aims to reduce the emissions intensity of GDP by 45 per cent. Finally, India commits to net-zero emissions by 2070.
The 2023 United Nations Climate Change Conference or Conference of the
