Dubai: Lauding India's capability of emerging as one of those economies which is on the path to meet NDC (Nationally Determined Contributions) targets, Prime Minister Narendra Modi has said that India has presented an excellent example of balance between ecology and economy before the world.

He noted that despite India being home to 17 per cent of the world's population, its contribution to global carbon emissions is less than 4 per cent.

Sharing his remarks at the opening ceremony of the High-level segment at the Conference of Parties (COP28) Summit, PM Modi said, "Today, India has presented an excellent example of the balance between ecology and economy before the world. Despite India being home to 17 per cent of the population of the world, its contribution to Global Carbon Emissions is less than 4 per cent."

"India is one of those few economies of the world that is on the path to meet NDC targets," he noted.

Furthermore, the Prime Minister also expressed his gratitude to the participants of the COP28 summit for their "continuous support of issues like climate justice, Climate Finance and Green Credit raised by" him.

"For a sustainable future, we altogether decided upon green development pacts. We also decided on the principles of the Lifestyle for the Environment (LiFE) initiative. On a global level, India also showed commitment to triple renewable energy," PM Modi added.

"India, also for the sake of alternate fuels, decided to give preference to the hydrogen sector," he added.

PM Modi further went on to say that India's goal is to bring down emissions intensity by 45 per cent till 2030.

"...India's goal is to bring down emissions intensity by 45 per cent till 2030. We have decided to increase the share of non-fossil fuel to 50 per cent. We will also keep going ahead towards our goal of net zero by 2070," he said during his address.

Notably, Prime Minister Narendra Modi, along with other world leaders, gathered in Dubai for the COP28 World Climate Action meeting. The leaders were seen posing for the customary 'family photograph' as the summit got underway on Friday.

PM Modi was seen interacting with various world leaders including Italian Prime Minister Giorgia Meloni and European Union President Ursula von der Leyen.

Prior to this, PM Modi was received by UAE President Sheikh Mohammed bin Zayed Al Nahyan and United Nations Secretary-General Antonio Guterres at the venue of the 28th edition of the climate change conference.

The World Climate Action Summit is the high-level segment of the 28th Conference of Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCCC).

This will be PM Modi's third appearance at the World Climate Action Summit after his visits to Paris in 2015 and Glasgow in 2021.

On the opening day of COP28, the UAE backed a crucial decision to make the loss and damage fund for developing nations operational. The fund is aimed at giving financial assistance to countries recovering from climate disasters. It will also be used to deal with other climate-related emergencies.

COP28 is being held from November 28-December 12 under the Presidency of the UAE in Dubai.