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PM Modi participates in COP-28 Presidency’s session on 'Transforming Climate Finance' COP28
Photo courtesy: PIB

PM Modi participates in COP-28 Presidency’s session on 'Transforming Climate Finance'

India Blooms News Service | @indiablooms | 02 Dec 2023, 02:05 pm

Prime Minister Narendra Modi on Friday participated in the COP-28 Presidency’s Session on "Transforming Climate Finance" in Dubai, UAE.

The event focussed on making climate finance more available, accessible, and affordable to developing countries.

During the session, the leaders adopted the "UAE Declaration on a New Global Climate Finance Framework".

The declaration includes elements on, inter alia, delivering on commitments and achieving ambitious outcomes and widening the sources of concessional finance for climate action.

During his address, the Prime Minister voiced the concerns of the Global South and reiterated the urgency of making the means of implementation, particularly climate finance, available to the developing countries to achieve their climate ambitions and implement their NDCs.

Modi welcomed the operationalisation of the Loss and Damage Fund and establishment of the UAE climate Investment Fund at COP-28.

He also called called for the COP-28 to deliver on the following issues related to Climate Finance, Progress in New Collective Quantified Goal on Climate Finance; Replenishment of Green Climate Fund & Adaptation Fund; Affordable Finance to be made available by MDBs for Climate Action; Developed countries must eliminate their carbon footprint before 2050.

Modi had a packed day-long schedule as he addressed the four sessions at the UN climate change conference.

The Prime Minister discussed ways to promote clean and green growth; issues of bilateral and regional interests in his meeting with many leaders on the sidelines of the summit.

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