New Delhi: Prime Minister Narendra Modi introduced the Green Credit Program (GCP) at the 28th Conference of the Parties (COP28) to the UN Framework Convention on Climate Change (UNFCCC) in Dubai, emphasising a people-driven approach to climate action. Participants engaging in eco-friendly activities will earn tradable green credits under this initiative.
Modi, the first Indian prime minister to open the UN climate summit, proposed hosting COP33 in 2028.
Expressing concerns for developing nations and condemning historical polluters, Modi urged swift corrective action. He also unveiled a global digital platform for climate action ideas and innovations, along with a corresponding data repository.
The GCP is part of India’s LiFE mission, a National Determined Contribution (NDC) submitted to the UNFCCC.
During his address, Modi presented the LiFE vision – – Lifestyle for Environment, aiming to save 2 billion tonnes of carbon emissions annually. The GCP, distinct from traditional carbon credits, focuses on creating carbon sinks through widespread participation.
The GCP draft was announced in June, with initial emphasis on water conservation and afforestation. The developed draft methodologies for awarding green credits will undergo stakeholder consultation before finalisation.
At COP28, India and the UAE co-hosted a high-level side event on green credits, highlighting the program’s role in adding positive points to Earth’s “health card.” He said, “These green credits would be used in future development, would be tradable, and will be available digitally.”
Modi continued his call for climate finance, echoing demands from COP26, and emphasised the need for an equitable share in the global carbon budget. He showcased India’s achievements, including reducing emission intensity ahead of schedule and exceeding green energy capacity targets.
Modi reaffirmed India’s commitment to increasing non-fossil fuel share to 50% and achieving a net-zero economy by 2070.
