"Green Credits initiative is promising additional tool to enhance climate action:" Swedish PM Ulf Kristersson

Dubai [UAE], December 1 : Sweden Prime Minister Ulf Kristersson has said that the Green Credits initiative is a promising additional tool to enhance climate action at a time when there is urgency and opportunities for climate transition in our societies.
In his address at the high-level event on the Green Credits Programme at the COP28 World Climate Action Summit, the Swedish Prime Minister also thanked India for the invitation to this event on enhancing climate action.
"We would like to thank our hosts and dear colleagues in India for the invitation to this event on enhancing climate action. Indeed, there are a large number of organisations, corporate entities and individuals who want to contribute to securing our future environment," he said.
"In light of the urgency and opportunities of climate transition in our societies, we see the Green Credits initiative as a promising additional tool to enhance climate action," Kristersson added.
As he further went on to address the event, Kristersson underlined that the Green Credit initiative could lower the threshold and how concrete actions can be taken.
"The Green Credit initiative could lower the thresholds and show how both companies, authorities and people can take concrete action. Through the Swedish initiative Climate Leap, we know that supporting action really can make a big difference," Kristersson said.
During the high-level event, Prime Minister Narendra Modi, along with Swedish PM Ulf Kristersson, President of Mozambique Filipe Jacinto Nyusi and European Council President Charles Michel, launched the web portal of the Green Credits Programme at the COP28 World Climate Action Summit in Dubai, UAE.
The high-level event on the Green Credits Programme was co-hosted by India and the UAE.
The Green Credit Initiative has been conceptualised as a mechanism to incentivize voluntary pro-planet actions, as an effective response to the challenge of climate change. It envisions the issue of Green Credits for plantations on waste/degraded lands and river catchment areas, to rejuvenate and revive natural eco-systems, the Ministry of External Affairs said in an official release.
Meanwhile, Prime Minister Modi also held a bilateral meeting with his Swedish counterpart, Ulf Kristersson, on the sidelines of COP 28 in Dubai.
"The leaders held productive discussions on various facets of their bilateral relations, including defence, R&D, trade and investment, and climate cooperation. They also discussed regional and multilateral issues, including EU, Nordic Council and Nordic Baltic 8 Group," the Ministry of External Affairs said in an official release.
The Prime Minister congratulated Prime Minister Kristersson for Sweden's successful presidency of the EU Council.
COP28 is being held from November 28-December 12 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.
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.