US special Presidential envoy for climate change, John Kerry on his first day of India visit met the minister for power, new & renewable energy R K Singh and minister for environment, forest & climate change Bhupender Yadav.
Kerry launched the 'Climate Action and Finance Mobilisation (CAFM) Dialogue' with the Indian government. He said the three part focus of the dialogue would be finance mobilisation, clean energy development and climate adaptation measures.
Speaking at the event where he signed the CAFM Dialogue with Yadav, Kerry said a robust India-US Climate and Clean Energy Agenda 2030 Partnership would set an example for the world "on how swift climate action with inclusive and resilient economic development can bring the world closer to the climate goals and build stronger economies for both."
He said, "Agenda 2030 is a core pillar of the US-India relationship and the CAFMD is one of the two main tracks of the Agenda 2030 partnership."
The Agenda 2030 partnership was launched at the April 2021 Leaders’ Summit on Climate between Prime Minister Narendra Modi and US President Joe Biden.
Kerry said the three focal points of the CAFM would firstly include a 'climate action pillar" which will develop proposals that can contribute to curbing emissions.
"In the power sector, this would translate to a roadmap to achieve the 450 GW renewable energy target, across transportation, buildings and industry," the special envoy said.
The second is finance mobilisation, under which the two countries will collaborate on attracting capital and enhancing the enabling environment to deploy 450 GW of renewable energy capacity, investment in innovative clean energy technologies, and promote bilateral clean energy investment and trade.”
The third part would focus on climate adaptation and resilience. “We are going to collaborate to build capacity to measure and manage climate risks in those other sectors of the economy. We are also going to be active on the protection of forests which is a major responsibility,” Kerry said.
The announcement comes close to the heels of the UK government announcing a $1.2 billion package for public and private investment in green projects and renewable energy in India.
It also announced a Climate Finance Leadership Initiative (CFLI) India partnership, which aims to mobilise private capital into sustainable infrastructure in India. These investments will support India’s target of 450GW renewable energy by 2030, the British High Commission (BHC) informed in a public statement, last week.
Commenting on India's clean energy plans, Kerry said the target of 450 Gw of renewable energy is one of the most powerful goals in the world.
"You have already reached about 100 GW. We are absolutely confident that the 450 Gw as a goal can and will be reached and we look forward to partnering with India. I look forward to seeing this ambition hopefully given its proper due credit at COP in Glasgow," Kerry said.