There is a broad consensus today that swift and ambitious action is needed to avert the most catastrophic consequences of climate change. Within this context, India’s G20 presidency and the UAE as the host of COP28 assume significant importance for representing and elevating the voices of the Global South within the global climate policy discourse. Both India and the UAE have emphasized advancing global climate action, all the while nurturing avenues for equitable green transitions, and sustainable and inclusive development.
The final stage of the Indian G20 Presidency will intersect with the COP28, and the overlap is fortuitous and presents a unique opportunity to align India’s G20 Presidency’s outcomes on climate action with the COP28 agenda.
This unique event will bring together policy experts from across the world to discuss and ideate solutions to issues which are expected to be at the forefront of deliberations at COP28. In particular, the sessions will be designed to link the outcomes and insights from the Indian G20 Presidency concerning climate action to the COP28 agenda. The overarching objective will be to identify synergies between these two forums, with the ultimate goal of formulating a more effective global response to the issues that impede the rapid and equitable progress of climate action.
As global economies prime themselves to transition towards green and clean sources of energy, the principles of energy equity and justice must remain central to the energy transitions agenda. The Indian G20 Presidency underscored the importance of ensuring modern, sustainable energy access for all. There is now an urgent need to identify pathways to effectively resolve the trilemma of energy access, affordability, and sustainability.
The intersection of climate, health, and gender is a crucial focus at COP28 and within the context of India’s G20 presidency as well. Recognizing that climate change affects vulnerable populations differently, particularly in terms of health outcomes and gender disparities, addressing these issues becomes paramount for achieving effective climate action that also ensures the achievement of sustainable development goals.
Technological innovation plays a crucial role in combating climate change and achieving SDGs. The G20 endorses and promotes international cooperation, investment, and policy frameworks to accelerate the adoption of climate-friendly technologies. However, challenges persist in scaling up and deploying these technologies, such as securing financing, ensuring accessibility, and facilitating technology transfer to developing countries. The role of COP negotiations is, therefore, vital in facilitating global technology transfer, protecting intellectual property rights, and building capacity in developing nations.
The current scale of global climate finance falls significantly short of the investments required to support emerging and developing economies in pursuing net-zero trajectories. Moreover, the distribution of climate finance exhibits biases that put emerging and developing economies at a disadvantage. The majority of mobilized climate finance remains within the country of origin. Furthermore, a notable proportion of climate finance is directed towards mitigation efforts, while adaptation funding is disproportionately limited. Resolve these inequities will be an essential step to achieve feasible pathways for achieving the Paris Climate Targets.
