What actions should be taken at COP28 according to Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman emphasises the need for action, not words, at COP28. Discuss the specific actions that should be taken at the climate conference.
At COP28, Finance Minister Nirmala Sitharaman suggests the following specific actions that should be taken to address the climate crisis:
- Enhanced climate finance: Commitment to providing adequate financial resources to developing nations to support their adaptation and mitigation efforts. This includes fulfilling the promise of mobilizing $100 billion per year by developed countries.
- Accelerated clean energy transition: Encouraging the transition from fossil fuels to sustainable energy sources through increased investments, research, and development. Promoting renewable energy projects and technologies to reduce greenhouse gas emissions.
- Climate resilience and adaptation measures: Strengthening measures to combat the impacts of climate change, such as supporting vulnerable communities in adopting resilient infrastructure, climate-smart agriculture, and nature-based solutions like reforestation.
- Enhanced global partnerships: Collaborating and sharing best practices to tackle climate change, including technology transfer, capacity building, and knowledge sharing. Strengthening international cooperation to address the global nature of the issue.
- Ensuring transparency and accountability: Establishing robust monitoring, reporting, and verification systems to track progress and commitments made by countries. Ensuring transparency in financial flows and accountability in meeting climate targets.
- Inclusion and justice: Ensuring the participation and representation of marginalized groups, indigenous communities, and women in decision-making processes. Focusing on equitable solutions that consider the social, economic, and environmental aspects of climate action.
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