India Proposes to Host COP33 Climate Summit in India in 2028

Context: This article is based on the news “PM Modi pitches India as host for climate conference in 2028, calls on countries to rise above self-interest” Which was published in the Indian Express. 

• During the high-level meeting Conference of Parties (COP)28, the Prime Minister (PM) Of India proposed to host the COP33 to the United Nations Framework Convention on Climate Change (UNFCCC) in India.

India Proposes Hosting COP33 in 2028

• The plan to host the Conference in India in 2028 is an opportunity for the country to put the issues of the Global South and climate justice with a view to an action-oriented COP33.
• Global stocktake (GST) review: According to the 2015 Paris Agreement, the next round of the Global stocktake review is scheduled for COP33.
  • The global stocktake means looking at everything related to where the world stands on climate action and support, identifying the gaps, and working together to chart a better course forward to accelerate climate action.
  • The stocktake occurs every five years, with the first-ever stocktake set to conclude at the Conference of the Parties-28.
  • A proposal to host the Conference of the Parties (COP) must be approved by other signatories UNFCCC. 
• Access of carbon budget to developing nations: The PM underlined the need for proper access to the remaining global carbon budget for poor nations.
• Green Credits Initiative: During the conference, the PM highlighted the need for the adoption of India’s recently launched Initiative by the other countries.

What are the key outcomes of the COP28 Summit in 2023?

• LeadIT 2.0: It focuses on co-development and transfer of low-carbon technology and financial assistance to emerging economies. 
• UAE Declaration on Agriculture, Food, and Climate: It announced the mobilization of more than USD 2.5 billion to support food security while combating climate change.
• Launch of Climate Club: It is a coalition of 36 nations, led by Germany and Chile dedicated to addressing industrial emissions with ambitious goals. 
• Coalition for International tax mechanism: France and Kenya will form a coalition of nations to create an international tax mechanism as a source of finance for developing nations most vulnerable to climate change. 
• Climate Investment Fund ALTÉRRA:  It is a $30 billion climate fund launched by UAE  that will allocate $25 billion towards climate strategies and $5 billion specifically to incentivize investment flows into the Global South.
• New Collective Quantified Goal (NCQG): The PM proposed it as a new target for climate finance in the place of US$ 100 billion per year from 2025 onwards.
  • NCQG refers to ongoing negotiations on a new climate finance commitment developed countries must make to developing countries to accelerate the world’s transition from fossil fuels. 
• Tripling nuclear energy: During the conference, more than 20 countries demanded the tripling of the world’s nuclear energy capacity to reach net-zero emissions by 2050.
• Loss And Damage Fund: It has been launched to help vulnerable countries cope with the impact of climate change.
  • The initial funding is estimated to be $475 million to which host UAE pledged $100 million, the European Union promised $275 million, $17.5 million from the US, and $10 million from Japan.

Also Read: NDC Synthesis Report For 2023: UNFCCC

What role does India play at the Conference of the Parties?

• Equitable climate action: India has worked to make sure that developing nations do not bear a disproportionate burden of climate action since the 1992 Rio de Janeiro Earth Summit.
• Kyoto Protocol: India played a crucial role in the development of the Kyoto Protocol, negotiated during the Conference of the Parties3, 1997, and based largely on the CBDR-RC principle. 
  • Under the Kyoto Protocol,  India, and China, as developing nations, were granted the freedom to pursue “nationally appropriate” climate actions.
  • In contrast, affluent and industrialized nations were assigned specific emission reduction targets to be implemented between 2008 and 2012.
  • India has hosted the UNFCCC Conference of the Parties once previously, i.e., Conference of the Parties-8 held from October 23-November 1, 2002, in New Delhi. 

What role has India played in the recent Conference of the Parties (COPs) addressing climate change?

• Glasgow summit: During the summit in 2021, India blocked the final draft outcome at the last minute and got the “phase-out” of coal changed to “phase-down”. 
• Sharm El-Shaikh: India ran a campaign during the Conference of the Parties-27  calling for the phase-down of all fossil fuels, not just coal.
  • India has also been actively pressing the need for lifestyle changes to reduce energy consumption and emissions.

Has India made significant progress in achieving its climate goals?

• Intended Nationally Determined. Contribution (NDC): India’s NDC contains three targeted promises: 
  • Reduction of emissions intensity, or emissions per unit of GDP, by 45% from 2005 levels by 2030:  As per the Statistical Review of World Energy, India could meet its emissions intensity reduction target within the next two years before the 2030 target date.
  • Ensuring that at least 50% of its installed electricity capacity in 2030 comprises non-fossil-fuel sources:  India has an installed renewable energy capacity of 174 GW as of June 2023.
    • Including nuclear, the total carbon-free generation capacity is nearly 180 GW  accounting for 43 percent of the total installed capacity surpassing the 2016 NDC commitment of 40 percent by 2030. 
  • Create at least 2.5 to 3 billion tonnes of additional carbon sink through tree and forest cover:  As per the Biennial India State of Forest Report 2021, the carbon stock in Indian forests increased to 7,204 Mt.
    • This target seems more challenging to achieve, and India will have to make significant additional efforts here.
• Dominance of coal in energy mix: The share of renewables in India’s energy basket has increased for at least five years. 
  • However, coal provides more than 70 percent of the country’s energy needs. 

What challenges are associated with commitments at the UNFCCC?

• Unfulfilled commitments: The Green Climate Fund (GCF) was established in 2009 to provide developing nations with annual transfers of about $100 billion. 
  • In reality, very little of this tranche has been realized. 
  • GCF is a financial instrument under UNFCCC adopted at the Durban Summit in 2011. Its activities align with developing countries’ priorities through the principle of country ownership.
• Lack of alternate energy reserves with India: As the nation’s economy recovers from the crisis brought on by COVID-19, power demand has been rising at a reasonable rate. 
  • The US and several European nations could transition away from coal because of their natural gas deposits. 
  • This challenges India to transition away from using coal lacking sufficient natural gas reserves although it is also a fossil fuel.

Also Read: World Climate Action Summit

Way Forward:

• Historical Responsibility on Developed Nations:  Developed nations need to take greater action on a scale appropriate to their influence on emissions that warm the earth, considering their greater historical responsibility.
  • Affluent nations should “eliminate” their carbon footprint before 2050.
  • They should not disregard their obligations to the Global Climate Fund (GCF) and the Adaptation Fund, established in 2001.
• COP28 as an opportunity: The plan for India to host the Conference in COP28 offers it the chance to prioritise the concerns of the Global South and climate justice, as it did during its G-20 Presidency this year.
• Taxing bad: Climate Finance can be raised by taxing polluting activities and reducing subsidies for fossil fuels.
  • Taxing the bad refers to levies that target harm to the public good. For example, greenhouse gases. Higher carbon taxes should include charges on emissions from the aviation and maritime industries.
  • Carbon levy on shipping is imperative which transports around 90% of world trade and accounts for nearly 3% of the world’s carbon dioxide emissions.
• Reallocation of existing revenue streams:  Although there is a need for new climate funding sources, current revenue streams also need reallocation as:
  • Investments in the fossil-fuel economy continued to outstrip those made in the clean economy.
  • Worldwide, subsidies for fossil fuels totaled to around $1.3 trillion, and substantially more if counting the societal cost of dealing with emissions and pollution.
• Need for private finance: In emerging and developed countries, private finance is dismally low. Thus, multilateral development banks need to ensure inexpensive financing to developing nations.

Conclusion:

India’s proposal to host COP33 in 2028 presents an opportunity to advocate for global climate justice and prioritize the concerns of the Global South, as reflected in its active role at the Conference of the Parties-28 and commitment to initiatives such as the Green Credit Initiative, while addressing challenges like unfulfilled commitments and the imperative need for developed nations to eliminate their carbon footprint before 2050.

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