In the United Arab Emirates, world leaders are gathering for COP28—a pivotal moment in the fight against climate change. Here, nation-states, scientists, and environmental advocates converge to engage in crucial discussions, seeking effective strategies to combat the pressing challenges of our time.
At COP28, Prime Minister Modi pitched the Global Biofuel Alliance (GBA), which seeks quicker adoption of biofuels by establishing a global market for renewable energy sources. He also announced that India will undertake a green credits initiative.
Credits :
Scripted by Prachi Khanna and Abdul Haleem Sherif
Produced by Ankit Panwar
Courtesy : NASA, CNBC Television
At COP28, Prime Minister Modi pitched the Global Biofuel Alliance (GBA), which seeks quicker adoption of biofuels by establishing a global market for renewable energy sources. He also announced that India will undertake a green credits initiative.
Credits :
Scripted by Prachi Khanna and Abdul Haleem Sherif
Produced by Ankit Panwar
Courtesy : NASA, CNBC Television
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NewsTranscript
00:00 We have to work in unity.
00:16 Extremely heavy rains, landslides and flash floods batter much of North India.
00:21 Climate change could be irreversible.
00:23 Seas levels already altering this nation's coastline.
00:26 China's capital is choking in its worst pollution of the year.
00:29 In the United Arab Emirates, world leaders are gathering for COP28,
00:34 a pivotal moment in the fight against climate change.
00:38 Here, nation states, scientists and environmental advocates converge
00:43 to engage in crucial discussions,
00:45 seeking effective strategies to combat the pressing challenges of our time.
00:50 At the forefront of these discussions lies the Global Stocktake,
00:54 the inaugural report card assessing nation's progress
00:57 and meeting the goals set forth by the Paris Agreement.
01:00 Unfortunately, the world finds itself significantly off track.
01:05 The Paris Agreement, once held as a beacon of hope, is now at crossroads.
01:11 Recent reports from the UN and independent groups lay bare a harsh reality,
01:16 a significant gap between countries' promises to reduce emissions
01:20 and the concrete actions necessary to achieve the agreement's objective
01:24 of limiting global warming to 1.5 degrees Celsius.
01:28 COP28 must urgently address this disparity and realign our trajectory.
01:33 Today, I am calling for another pro-planet, pro-active and pro-positive initiative.
01:45 This is the Green Credit Initiative.
01:50 This is an initiative to create a carbon sink
01:54 by moving beyond commercial mentality and sharing the common good.
02:04 We do not have much time to correct the mistakes of the past century.
02:13 A small fraction of the human race has plundered the dark side of nature.
02:21 But the entire humanity has to pay the price.
02:27 We must be determined to achieve the climate targets and commitments
02:34 that every country has set for itself.
02:43 We have to work in unity.
02:46 We have to give equal share to all developed countries in the global carbon budget.
02:55 Today, I propose to host the COP33 Summit in India from this stage in 2028.
03:09 At COP28, Prime Minister Modi pitched the Global Biofuel Alliance (GBA)
03:16 which seeks quicker adoption of biofuels by establishing a global market for the renewable energy source.
03:23 He also announced that India will undertake a Green Credits Initiative.
03:27 India's mission is clear - to propel the world towards a carbon-negative future by 2050.
03:33 A vision that surpasses near-carbon neutrality.
03:37 The Prime Minister's recent announcement resonates with this determination.
03:42 India commits to meeting 50% of its energy demand from renewables by 2030,
03:48 forging a path towards a greener and more sustainable energy landscape.
03:53 But the commitment goes further.
03:56 India aims to reduce power demand for cooling across sectors by 20% to 25% by 2038,
04:04 driven by their Comprehensive Cooling Action Plan of 2019.
04:09 India's dedication to sustainable growth is unwavering.
04:13 Balancing economic progress with environmental stewardship,
04:16 it paves the way for a greener, more resilient future.
04:20 The country is also keen on acting as a leader of the world's developing economies,
04:25 something that was already demonstrated in the recent G20 Summit as well.
04:30 This is why the Indian government has consistently treated the call for a blanket ban on coal-based power plants as a red line.
04:38 At this crucial juncture in global climate negotiations,
04:41 it is important for all countries to join hands and fight for a better tomorrow.
04:46 World leaders are hopeful that the ongoing COP28 will be a major step in this direction.
04:52 [End of Audio]
04:54 Transcription by ESO; translation by —
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