India and the US launched the Climate Action and Finance Mobilisation Dialogue (CAFMD) to enhance action to meet the goals of the Paris Climate Agreement. CAFMD was launched by Union Environment Minister Bhupender Yadav and US Special Presidential Envoy for Climate Change, John Kerry in New Delhi on Monday.
The two nations also plan to enhance cooperation in the fields of climate change issues and transition to clean energies.
RK Singh, Union Minister for Power and New and Renewable Energy too met Kerry to collaborate and pave the way for the rest of the world on energy transition.
Kerry appreciated India for its commitment to energy access and efforts to achieve 450 GW of renewable energy by 2030. The US also lauded India for electrifying 28.02 million homes in 18 months under its universal household electrification programme.
Singh invited US companies to participate in Indian bids over green hydrogen and electrolyzers. He also highlighted upcoming projects in Ladakh on green hydrogen and green energy corridors. He also urged the US to join the International Solar Alliance (ISA) co-launched by India and France to help countries transition to solar energy.
Kerry stressed upon the US commitment to support India realise its ambitious renewable energy target which would enable India to achieve sub 2°C level emissions—improving upon its commitment to the Paris Climate Agreement.
Underlining the importance of financial sustainability, both countries agreed that Indian and American labs could collaborate to reduce costs and make energy transition economically viable.
Kerry said that India and the US could play a leadership role in enabling energy transition for the rest of the world.
With US President Joe Biden keen to arrest the climate crisis, Kerry has been transiting the world to make a case for clean energy, reducing emissions and decreasing the carbon footprint. He had met Prime Minister Narendra Modi in April this year to muster support for Biden's climate change summit, called the climate leaders' summit.
He had also met External Affairs Minister S Jaishankar as well as the then environment minister Prakash Javadekar to discuss climate related issues.
