World Climate Action Summit: The United Arab Emirates (UAE), a major actor in the global energy scene, is hosting the 28th UN Climate Change Summit (COP28), which is now taking place in Dubai. The gathering, which takes place from 30 November to December 12, is expected to bring together world leaders to talk about ways to cut greenhouse gas emissions and address the urgent problem of climate change.
World Climate Action Summit
Prime Minister Narendra Modi to Inaugurate COP28
The need of collective action will be emphasised in the inaugural speech of Indian Prime Minister Narendra Modi at COP28 on Friday. He will take part in three high-level events in addition to the summit, which will include talks about the future direction of global climate action and the advancements made under the Paris Agreement.
Key Focus on Green Credits Initiative
World Climate Action Summit, Additionally, PM Modi will interact with the Indian Environment Ministry’s Green Credits Initiative, a market system that promotes environmental sustainability. This programme aims to provide green credits for voluntary environmental efforts by different stakeholders, such as replanting on waste and damaged sites.
Lead IT 2.0 – A Leadership Group for Energy Transition
World Climate Action Summit, Lead IT 2.0, a high-level gathering that establishes a leadership group for industry change, is being co-hosted by Sweden and India. Launched in 2019, the programme aims to speed the shift to net-zero emissions by fostering collaboration between the public and commercial sectors. It focuses on heavy industries, which are critical for global climate action.
India’s Key Role and Expectations at COP28
India, which is among the major emitters of greenhouse gases, expects a clear agenda for climate financing talks at COP28. In order to address the world’s environmental problems, climate finance and technology are considered essential, and India is hoping to reach an agreement on both points during the summit.
WMO’s Alarming 2023 Report
World Climate Action Summit, It is predicted by the World Meteorological Organisation (WMO) that 2023 would be the hottest year ever recorded. The research highlights concerning patterns, such as an increase in heatwaves, forest fires, floods, and glacier melt. The research emphasises the need for immediate global climate action because temperatures have risen by 1.4 degrees Celsius since pre-industrial times.
Operationalizing the Loss and Damage Fund
The operationalization of the Loss and Damage Fund, a critical step for nations confronting environmental issues, has been a noteworthy accomplishment at COP28. The fund, which was decided upon during COP27, deals with beneficiary, administrative, and funding allocation difficulties. Notably, the United Arab Emirates and Germany have committed to provide USD 100 million each to the fund, indicating global cooperation on climate resilience.
The world is keeping a careful eye on COP28 as it moves on, hoping for agreements, commitments, and swift action to address the worsening climate problem.