Why is it in the News?

Prime Minister Modi will be on a two-day visit to Dubai, UAE from 30th November to attend the World Climate Action Summit.

About World Climate Action Summit:

• The World Climate Action Summit is the High-Level Segment of the 28th Conference of Parties (COP-28) to the United Nations Framework Convention on Climate Change (UNFCCC).
• COP-28 is being held from 28 November to 12 December 2023 under the Presidency of the UAE.
• The Conference of Parties to the UNFCCC provides a unique opportunity to impart momentum for collective action towards combating the shared challenge of climate change.
• The World Climate Action Summit will bring together heads of state and governments, leaders from civil society, business, youth, indigenous peoples' organisations, frontline communities, science, and other sectors.
• The summit aims to facilitate discussions on actions and plans to scale climate action.
• The COP 28 will focus on four paradigm shifts:
• Fast-tracking the energy transition and slashing emissions before 2030;
• Transforming climate finance, by delivering on old promises and setting the framework for a new deal on finance;
• Putting nature, people, lives, and livelihoods at the heart of climate action; and
• Mobilizing for the most inclusive COP ever.
• The summit may witness intense negotiations on unfulfilled promises of financial aid, particularly the yet-to-materialize $100 billion pledged by rich countries by 2020.
• Additionally, some countries, notably the European Union, are expected to advocate for a global deal to phase out unabated fossil fuels during COP28.
• During COP-26 in Glasgow, the Prime Minister announced five specific targets, titled "Panchamrit”, as India’s unprecedented contribution to climate action.
• The Prime Minister also announced Mission Lifestyle for Environment (LiFE) on that occasion.
• Climate change has been an important priority area of India’s G20 Presidency, and significant new steps have been captured in the New Delhi Leaders’ Declaration and other outcomes during our Presidency.
• COP-28 will provide an opportunity to take forward these successes.