India and the United States launched the ‘Climate Action and Finance Mobilization Dialogue (CAFMD)’.
The dialogue was formally launched by Union Minister of Environment, Forest and Climate Change Bhupender Yadav and John Kerry, US Special Presidential Envoy for Climate (SPEC), at an event held in New Delhi.
The CAFMD is one of two tracks of the ‘India-US Climate and Clean Energy Agenda 2030 Partnership’ launched at the Leaders’ Summit on Climate in April 2021, by Prime Minister Narendra Modi and US President Joe Biden.
Key points of CAFMD:
• Union Minister Bhupender Yadav said that the dialogue will not only strengthen India-US bilateral cooperation on climate and environment but will also help to demonstrate how the world can align swift climate action with inclusive and resilient economic development, taking into account national circumstances and sustainable development priorities.
• Kerry applauded PM Modi for setting an ambitious target of achieving 450 GW renewable energy by 2030 and congratulated India for already achieving 100 GW.
• He stressed that India and the US are working towards speedier deployment of clean energy.
• The launch was preceded by a bilateral meet where both the sides discussed at length a wide range of climate issues relating to COP26, Climate Ambition, Climate Finance, Global Climate Initiatives, including International Solar Alliance (ISA), Agriculture Innovation Mission for Climate (AIM4C).
India-US Climate and Clean Energy Agenda 2030 Partnership
• At the Leaders Summit on Climate in April earlier this year, India and the US launched a new high-level partnership, the ‘India-US Climate and Clean Energy Agenda 2030 Partnership’, which envisages bilateral cooperation on strong actions in the current decade to meet the goals of the Paris Agreement.
The Partnership will proceed along two main tracks:
• The Strategic Clean Energy Partnership
• The Climate Action and Finance Mobilization Dialogue.
• Through the Partnership, India and the US 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.
The Partnership will aim to:
• Mobilise finance and speed clean energy deployment.
• Demonstrate and scale innovative clean technologies needed to decarbonise sectors including industry, transportation, power, and buildings.
• Build capacity to measure, manage, and adapt to the risks of climate-related impacts.