New Delhi: Collaborating on mobilizing finance and spreading clean technology for faster energy transitions, India and the US on Monday launching a joint platform – ACTION MobileGization dialogue and Finance (CAFMD) – which will help both countries move with decarbonizing expressions in their respective commitment synchronization -Masing to handle the challenges of climate change.
Joining the International Solar Alliance (ISA) in time will be the next step for the US to direct the world to clean energy transition.
The US is expected to announce its decision in this regard immediately, said the source while referring to the discussion during a bilateral meeting before the launch of the dialogue.
Develop proposals that can help curb carbon emissions, mobilize financial and investment in innovative clean energy technology, and ‘climate and resilience adaptation’ will be three pillars of CAFMD.
“I hope this dialogue will work to mobilize and provide climate finance, especially as a concession grant and finance, as expected under the Paris Agreement to strengthen climate action,” said Minister of Environment Bhupender Yadav when launching a special US President’s envoy with the climate, John Kerry.
The dialogue is one of the two main tracks of the ‘Indian-US Climate Association and the 2030 Clean Energy Partnership announced by Prime Minister Narendra Modi and American President Joe Biden at the leader’s summit in April.
Referring to the planned Indian ambitious settings 450 GW renewable (sun, wind and biomass etc.) The energy capacity in 2030, Kerry at the launch said the dialogue would create an environment that allowed the spread of renewable energy to what extent, promoting bilateral clean energy investment and trade.
The launch was preceded by a bilateral meeting where both parties discussed a variety of climate problems ahead of 26 of the UN climate conference recession (COP26).
COP26 in Glasgow, England in November may see many countries will result in an enhanced climate action plan, aligning the latest IPCC findings that warn how to increase the global average temperature of 1.5 degrees Celsius from the pre-industrial level (1850 1900) In the next two decades it will change humanity towards a deteriorating future.
The US delegation, led by Kerry, during a discussion of finding India to increase climate action ambitions in front of COP26 so that the world can collectively achieve ‘zero’ emission targets in 2050 – aim that can reduce the impact of climate change.
India side, however, learn to tell the visitors that the country will make calls by maintaining national conditions and their development needs.
In addition, he said, it was too excessive what was promised under the Paris agreement and was actually time for rich countries to walk.
In addition to the possibility of the US joining ISA, both parties also discussed the mission of agricultural innovation for the climate and gap in mobilizing funds under the Green Climate Fund (GEF).
Kerry also met with RK Singh’s renewal power and minister who urged the US to join Isa and invited American companies to participate in the upcoming offer for hydrogen green and electrolymer.
If the US joins Isa, it will be easier for the global body to mobilize more investment in the solar sector.
The global alliance, headquartered in India, was launched on the sidelines of COP21 in Paris in 2015 to collectively overcome the main general challenges to improve solar energy applications and mobilize investments of more than $ 1000 billion by 2030.
India and the US launched a shared platform to mobilize finances for clean energy
