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Germany announces Euro 1.2 bn to aid India's fight against climate change

Germany has announced new development commitments to the tune of more than Euro 1.2 billion (approx. INR 10,025 crore) to aid India's fight against climate change

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has announced new development commitments to the tune of more than EUR 1.2 billion (approx. INR 10,025 crore) to aid India's fight against and for cooperation on clean energy.

This announcement was made amid the visit of a delegation from the German Ministry of Economic Cooperation and Development.

"New commitments made in bilateral government negotiations 2021. More than EUR 1.2 billion (EUR 713 million for energy, EUR 409 million for urban development, EUR 90 million for agro ecology and natural resources)," govt sources from said.

Separately, at a press briefing here, German Ambassador to India Walter Lindner said, "Without Indians, you cannot solve any big world problems, and one of the biggest is We try to work together with India and help with climate change, renewable energy and similar projects, which also helps in working towards our own goals we promised at COP26 in Glasgow."

"While we try to support India, we fulfil our own goals promised in Glasgow. Here, we assist India in a range of projects across the country that is huge in dimension. I travel a lot through this country and everywhere I find different projects that the two countries are working together and learning from each other," the ambassador added.

Professor Dr Claudia Warning, Director General from the German Ministry for Economic Cooperation and Development said, "India is the biggest development cooperation partner for This cooperation of 63 years is based on a strong foundation of shared values and vision. Both countries have borne the brunt of "

"Germany wants to strengthen this partnership even further and hence it remains committed to its friendship with the people of India," Dr Warning added.

The Indo-German cooperation is resting on four key megatrends i.e. climate change, urbanisation, degradation of natural resources, pressure on democracy and society.

Interestingly, India and Germany account together for nearly 9 per cent of global greenhouse gas (GHG), a strict policy of climate neutrality only way forward.

Germany raised its climate ambition, targeting to reach climate neutrality by 2045 and emissions reductions in the energy and industry sectors by 77 and 58 per cent compared to 1990. As announced by Prime Minister Narendra Modi at COP 26, India targets to achieve net-zero emissions by 2070.

At COP26, India and Germany agreed to phase down unabated coal power. In a significant addition, India has already identified 50 gigawatts (GW) of coal plants for retirement by 2027.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Thu, November 25 2021. 06:59 IST