India, US hold climate finance talks, vow to boost clean energy

Tribune News Service

New Delhi, September 13

United States Special Presidential Envoy for Climate John Kerry and Environment Minister Bhupender Yadav on Monday launched the Climate Action and Finance Mobilisation Dialogue (CAFMD) under the India-US Climate and Clean Energy Agenda 2030 Partnership.

Opportunity to renew collaborations

The partnership will provide both countries an opportunity to renew collaboration on climate change while addressing the financing aspects. Dialogue will help raise funds to accelerate India’s transfer to green technology. — Bhupender Yadav, Environment minister

“The partnership will provide both countries an opportunity to renew collaboration on climate change while addressing the financing aspects,” said Yadav.

Before embarking on his India visit, Kerry had said the US and its allies have been promised a huge amount of funding from private sector to help India’s efforts to mitigate global warming. In return, he said the US would want India to commit to achieving net-zero emissions.

“I hope this dialogue will work to mobilise and deliver climate finance primarily as grants and concessional finance as envisaged under the Paris Agreement to strengthen climate action,” Yadav said, pointing out that India is an attractive destination for global clean energy investments.

Yadav said the dialogue would help align “swift climate action with inclusive and resilient economic development, taking into account national circumstances and sustainable development priorities”.

He meant that the dialogue would help raise funds to accelerate India’s transfer to green technology much faster than its current commitment. Kerry also met Union Power and Renewable Energy Minister RK Singh and discussed issues related to climate change and energy transition.

Kerry will also meet private sector leaders to discuss efforts to raise global climate ambition and speed up India’s clean energy transition. Singh has spoken to Kerry last month during which he was hopeful of the Union Cabinet clearing a proposal to mandate the use of green hydrogen in fertiliser and refining.

The CAFMD is one the two main tracks of the US-India Agenda 2030 Partnership that President Joe Biden and Prime Minister Narendra Modi had announced at the Leaders’ Summit on Climate in April this year.

Kerry has been visiting the major emitters of greenhouse gases in order to persuade them to achieve a major breakthrough at the UN climate conference beginning October 31 in Glasgow.

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