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CoP-28 should be celebrated for its big 'no excuses' call to action

Mint Mumbai

|

December 15, 2023

The UN summit's collective resolve on fighting climate change has raised expectations of actual deeds to go with lofty words

- LEENA SRIVASTAVA

CoP-28 should be celebrated for its big 'no excuses' call to action

The Conference of the Parties to the UN Framework Convention on Climate Change finished its 28th session (CoP-28) later than scheduled, but creating a strong hope that the world would have a better chance of mitigating the climate impact of human-induced emissions of greenhouse gases. There were many announcements made in the two weeks of the Conference. The Global Climate Action Portal tracked over 170 of them, more than double the count of COP-27. But the biggest and most fought-for breakthrough came in the last hours of the Global Stocktake, wherein the Conference agreed to "transition away from fossil fuels." Starting with a position, as articulated by the CoP-28 President, that there is "no science" asking for a phase-out of fossil fuels to limit global warming to 1.5° Celsius above preindustrial levels, it was a long journey towards a conclusion that calls for global efforts to transition away from fossil fuels in energy systems "in a just, orderly and equitable manner, accelerating action in this critical decade, so as to achieve net zero by 2050 in keeping with the science."

With this, a year of climate related trepidation comes to an end-with an outcome that needs to be celebrated for its comprehensive inclusivity of actors, its commitment to action on mitigation and also adaptation, the pledging of finances towards the Loss and Damage Fund in particular, signalling ownership of responsibility, and many other wins.

FLERE HISTORIER FRA Mint Mumbai

Mint Mumbai

Bank-funded acquisitions won't displace private credit

The Reserve Bank of India's (RBI) draft framework for bank-led acquisition finance marks a decisive policy turn: Indian banks can now enter the acquisition finance market within a clear perimeter, reshaping the competitive dynamics between banks and private credit funds.

time to read

3 mins

November 20, 2025

Mint Mumbai

Air India lobbies to use airspace over China's Xinjiang

India-China flights resumed after a five-year hiatus.

time to read

1 mins

November 20, 2025

Mint Mumbai

Nitish Kumar to take oath as Bihar CM

JD(U) supremo Nitish Kumar to be sworn-in as Bihar chief minister for a record 10th time.

time to read

1 min

November 20, 2025

Mint Mumbai

Mint Mumbai

A fresh perspective on abstraction in art

A new exhibition in Mumbai showcases different approaches to abstraction by artists like Zarina, Seher Shah and Mehlli Gobhai

time to read

3 mins

November 20, 2025

Mint Mumbai

Govt eyes post-cut GST revenue surge

FinMin expects Nov GST receipts growth to rebound to 10%

time to read

2 mins

November 20, 2025

Mint Mumbai

PayMate pulls plug on West Asia operations

The Visa-backed B2B payments firm is scrambling to raise more funds

time to read

2 mins

November 20, 2025

Mint Mumbai

Exide's dual bet: Can lithium-ion offset a weakening core?

Exide Industries Ltd is struggling to fuel its core lead-acid business while simultaneously turning its capex-heavy lithium-ion venture into a viable second growth engine.

time to read

1 mins

November 20, 2025

Mint Mumbai

Bank-funded acquisitions won’t displace private credit

The Reserve Bank of India's (RBI) draft framework for bank-led acquisition finance marks a decisive policy turn: Indian banks can now enter the acquisition finance market within a clear perimeter, reshaping the competitive dynamics between banks and private credit funds.

time to read

3 mins

November 20, 2025

Mint Mumbai

Afghanistan trade minister seeks India investments, goods

Afghanistan's Taliban trade minister arrived in India on Wednesday on a maiden visit to draw greater investments and goods as both countries consider ways to enhance their relations in the backdrop of souring relations with neighboring Pakistan.

time to read

1 min

November 20, 2025

Mint Mumbai

Mint Mumbai

Fractal Analytics bets heavily on R&D in AI race before IPO

Enterprise artificial intelligence firm Fractal Analytics plans to maintain high research and development (R&D) spending ahead of its market debut for which a date has not yet been set, a top executive has said.

time to read

2 mins

November 20, 2025

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