Launched: India-US Climate Action and Finance Mobilization Dialogue
India and the US are working towards speedier deployment of clean energy, said John Kerry, the U.S. Special Presidential Envoy for Climate (SPEC), underlining the urgent need for Global Climate Action.
The Climate envoy has also lauded India’s leadership role in demonstrating how economic development and clean energy can go hand in hand.
Kerry joined Minister of Environment, Forest and Climate Bhupender Yadav at the launch of India-US “Climate Action and Finance Mobilization Dialogue (CAFMD)”, one of the two tracks of the two countries’ Climate and Clean Energy Agenda 2030 partnership which was launched at the Leaders’ Summit on Climate in April 2021 by Prime Minister Narendra Modi and US President Joseph Biden.
Speaking at the launch, 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.
“India and the United States are natural partners with shared values and our agenda encompasses all major pillars of our strategic priorities – including defence, security, energy, technology, education and healthcare,” said Yadav, emphasizing on the deep ties shared by the two mature and vibrant democracies.
The launch was preceded by a bilateral meet on 13 Sept 2021 in New Delhi where both 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) and Agriculture Innovation Mission for Climate (AIM4C).
Kerry and Minister for Power and New and Renewable Energy R K Singh also discussed further collaboration on climate change issues and to work towards a genuine partnership between the two countries to pave the way for the rest of the world on Energy Transition.
The US side appreciated India for its Energy Access drive and commitment to achieve 450 GW of RE by 2030. They also lauded India for electrifying 28.02 million homes in 18 months and achieved universal household electrification.
Singh informed the US side about the Indian Government’s intent to move towards clean energy transition but faced a big challenge for storing RE. This, he said, needs to be addressed immediately to make power accessible to the masses.
Singh requested the Kerry to send American companies to bid for projects in Ladakh on Green Hydrogen and Green Energy Corridors where Green Hydrogen and Electrolyzers are planned in the upcoming months.
The SPEC envoy proposed that the USA is willing to enter into a genuine collaboration with India to help reach target of 450 GW Renewable Energy by 2030.
The ambitious target of 450 GW of RE would pave the way to India achieving sub 2°C level, much more than what has been committed under Paris Climate Agreement.
Both sides agreed that Indian labs could work with the US labs with the objective of reducing costs and finding alternative chemistry for making energy transition economically viable.
Kerry highlighted that India and the USA could take a Global Leadership role on the Energy Transition front and show the rest of the world that ambitious RE targets can be achieved.
Responding to Kerry’s suggestion, Singh called on the US to join the International Solar Alliance which can benefit many countries, and especially expressed his concern over 800 million people across the world not having access to electricity. #OPEC #energy #investment #projects #infrastructure /fiinews.com
