In his address at COP-28, Indian Prime Minister Narendra Modi refrained from new commitments to combat global temperature rise but extended an offer to host the 33rd edition of the annual summit in India in 2028. Modi emphasized the need for developed countries to “vacate the carbon space” before 2050 and urged nations to join India in its “Green Credit initiative,” a non-commercial effort aimed at creating a carb
on sink.
The proposal to host COP-33 requires approval from other signatories to the United Nations Framework Convention on Climate Change (UNFCCC). This offer, made much earlier than the typical two-year advance decision for COP venues, would mark India’s second hosting, following the 8th edition in 2002.
Modi criticized the exploitation of nature by a small part of humanity and stressed the global repercussions, particularly impacting the Global South. He presented the Green Credit scheme as a non-commercial initiative, although a prior notification by the Environment Ministry characterized it as an innovative market-based mechanism.
The global Green Credit scheme aims to generate credits for environmental actions, such as plantations on waste or degraded lands and river-catchment areas, to revive natural ecosystems.
Modi reiterated India’s commitments made at COP-26, including a 45% reduction in emissions intensity of GDP and a 50% share of non-fossil fuels by 2030, with a net-zero target for 2070. He welcomed the approval of the Loss and Damage Fund at COP-28 and encouraged countries to finalize a new climate finance target, known as the New Collective Quantified Goal (NCQG).
Modi emphasized that new financial targets should not overshadow existing commitments to the Green Climate Fund (GCF) and the Adaptation Fund. He called on developed countries to eliminate their carbon footprint before 2050 and welcomed the $30 billion Climate Investment Fund announced by the UAE during COP-28.
Observers praised Modi’s vision at COP-28, particularly the Green Credit Initiative, and noted that hosting COP-33 in 2028 could provide India with an opportunity to prioritize Global South issues and climate justice.
