COP28: Why India’s role is pivotal in climate justice and finance

India’s stance at COP28, the United Nations Climate Change Conference, centres around the importance of adaptation and equity in addressing climate change.

Leena Nandan (Secretary, Ministry of Environment, Forest and Climate Change, Government of India), speaking at the World Sustainable Development Summit, emphasised that while mitigation efforts have been the primary focus, adaptation is crucial for achieving climate justice.

India believes that supporting vulnerable countries through financial assistance and infrastructure development is essential to combating the effects of climate change. Nandan stressed the importance of action and discussion on topics such as loss and damage and the operationalisation of the Loss and Damages Fund.

India played a significant role in the previous COP27 by championing the establishment of the Loss and Damages Fund to compensate countries affected by climate change. However, there remains a lack of consensus on the funding of this initiative, despite estimates suggesting a minimum requirement of $500 billion for the Loss and Damages Fund. COP28 will feature a “global stocktake”, where participating countries will report on their progress in meeting their voluntary emissions reduction commitments and discuss strategies for closing the gaps.

In 2023, alongside losses and damages, other critical climate finance issues will be addressed. This includes the mobilisation of $100 billion annually, as pledged by developed economies, to support climate efforts in developing countries. Over the past two years, developed economies have also collaborated with major emerging economies, including India, to design climate finance packages aimed at transitioning away from fossil fuels. Structural changes such as the reform and capitalisation of international financial institutions like the World Bank, are also being pursued to attract private investment and assist vulnerable countries in overcoming climate-related challenges and debt burdens.

India’s partnership with the United Arab Emirates (UAE), which will host COP28, is crucial for achieving success at the conference. During a visit to the UAE, Prime Minister Narendra Modi reaffirmed the commitment of both countries to ensuring the conference’s success. The UAE’s COP28 president Sultan Al Jaber expects fossil fuels to continue playing a role in the energy mix albeit with the implementation of technologies to neutralise emissions. However, there are divergent views on the need to abandon fossil fuels with the European Union and many developing countries advocating for a transition away from them.

The success of COP28 hinges on the global stocktake (GST), which aims to assess progress towards limiting global warming to 1.5 degrees Celsius above pre-industrial levels. The GST must provide a course correction and a tangible roadmap to 2030, requiring unprecedented collaboration and support at the highest level.

Key areas for focus at COP28 include mitigation, adaptation, loss and damage, and finance. Emphasis will be placed on stronger emission reduction commitments to address the alarming trajectory of global warming. Climate finance remains a critical issue, with the need to mobilise funds and reform the global financial system to support climate action. Private finance and the reform of multilateral development banks are essential components of this transformation.

India, along with other developing countries, is pushing for a new global climate finance target, acknowledging the growing costs of addressing and adapting to climate change.

India’s active engagement, the collaboration between developed and emerging economies, and the commitment to addressing climate challenges demonstrate the country’s role as a key player in shaping the outcomes and success of COP28.

Possible scope of engagement for organisations based in India at the COP28 India Pavilion:

Circular economy and sustainable lifestyles: Organisations can showcase their initiatives and commitments towards promoting a circular economy and sustainable lifestyles. This aligns with India’s emphasis on transitioning to sustainable patterns of consumption and production. They can highlight their efforts to reduce waste, increase recycling rates, and develop innovative packaging solutions that promote a circular economy.

Waste management and extended producer responsibility:Organisations can share their strategies for waste management and Extended Producer Responsibility (EPR). They can highlight their initiatives to reduce plastic packaging waste (with special emphasis on single-use plastic), promote recycling and implement EPR principles. They can showcase their collaborations with local stakeholders, recycling partners, and waste management systems in India.

Sustainable agriculture and climate resilience: Organisations can present their initiatives to support sustainable agriculture and enhance climate resilience in the agricultural sector. They can discuss their efforts to promote regenerative farming practices, water conservation and climate-smart agricultural techniques among farmers. They can also highlight its investments in research and development for climate-resilient crop varieties.

Renewable energy and carbon footprint reduction: Organisations can showcase their commitment to renewable energy and reduce their carbon footprint. They can share their progress in transitioning to renewable energy sources for their manufacturing facilities and distribution centres in India. They can also highlight their efforts to improve energy efficiency, reduce greenhouse gas emissions, and set ambitious carbon reduction targets.

Water stewardship and conservation: Organisations can emphasise their water stewardship initiatives and contributions to water conservation in India. They can highlight their water replenishment projects, community-based water conservation programmes, and efforts to minimise water usage throughout their value chain. They can also discuss their collaborations with local communities, NGOs and government agencies to address water scarcity and promote sustainable water management practices.

Collaboration and partnerships: Organisations can showcase their collaborations and partnerships with various stakeholders in India including government agencies, NGOs, farmers and local communities. They can highlight the importance of multi-stakeholder engagement and collective action in addressing climate change and achieving sustainable development goals. They can also demonstrate their commitment to knowledge sharing, capacity building and fostering innovation through collaborative initiatives.

Youth and community engagement: Organisations can focus on engaging and empowering youth and local communities in India to take climate action. They can highlight their initiatives to raise awareness, educate, and mobilise young people and community members to participate in sustainable practices and advocacy efforts. They can also share success stories and best practices from its youth-focused programmes that promote environmental conservation and climate resilience.

Overall, organisations engagement at the COP28 India Pavilion can demonstrate their commitment to sustainability, climate action, and responsible business practices. By showcasing their initiatives, partnerships and contributions in key areas aligned with India’s stance at COP28, they can contribute to shaping the outcomes of the conference and inspire others to take meaningful action towards a more sustainable future.