"India's Rs 57 Lakh Crore Adaptation Goals by 2030: COP28's Crucial Step"
The ongoing UN climate summit (COP28) has released the first draft text on the global goal on adaptation (GGA), which aims to encourage countries to achieve seven specific targets by 2030. These targets include actions related to food and water security, climate resilient infrastructure, health, ecosystems, poverty reduction, and cultural heritage. However, the adoption of the GGA framework depends on consensus among all countries, as it will require a significant amount of funding. India alone would need Rs 57 lakh crore for adaptation efforts by 2030. The draft also calls for developed countries to increase their provision of climate finance for adaptation to developing countries, but the overall finance provisions appear to be weak. Negotiations are ongoing to finalize the draft text on the global stocktake, with the phase-out of fossil fuels being a major point of contention.