New Delhi: India and the United States on Monday jointly launched the Climate Action and Finance Mobilization Dialogue (CAFMD) of “India-US Climate and Clean Energy Agenda 2030 Partnership” here in New Delhi.
The dialogue was launched by the Union Cabinet Minister for Environment, Forest & Climate Change Bhupender Yadav and US Special President Envoy for Climate John Kerry.
The agenda was launched to take forward the initiative of Prime Minister Narendra Modi and US President Joseph Biden’s decision taken during the Leader’s Summit on Climate on 22 April 2021, “to meet the goal of the Paris Agreement,”.
In a series of tweets, Minister for Environment, Forest & Climate Change Bhupender Yadav said, “The dialogue will not only strengthen India-US bilateral cooperation on climate and environment but also help to demonstrate how the world can align swift climate action with inclusive and resilient economic development,”.
“CAFMD will provide both countries an opportunity to renew collaborations on climate change while addressing the financial aspects and deliver climate finance primarily as grants and concessional finance, as envisaged under Paris Agreement to strengthen climate action,” he tweeted.
Both India and the United States have set ambitious 2030 targets for climate action and clean energy.
In its new nationally determined contribution, the United States has set an economy-wide target of reducing its net greenhouse gas emissions by 50-52 per cent below 2005 levels in 2030.
As part of its climate mitigation efforts, India has set a target of installing 450 GW of renewable energy by 2030.
Earlier in a statement, India had said, “Through the Partnership, India and the United States are firmly committed to working together in achieving their ambitious climate and clean energy targets and to strengthening bilateral collaboration across climate and clean energy,”.