India and the United States of America on 13th September launched the “Climate Action and Finance Mobilization Dialogue (CAFMD)” – to renew their collaborations on climate change and also address the financing aspects related to Climate Action.
The launch of this initiative comes in the backdrop of announcement made by Prime Minister Modi and US President Biden to enhance actions in order to meet the goals of the Paris Agreement. This announcement was made at the launch of the Partnership at Leaders’ Summit on Climate in April 2021.
Since this dialogue is one of the two tracks of the India-U.S. Climate and Clean Energy Agenda 2030 partnership, let’s look over the objective behind this bilateral move.
India-U.S. Climate and Clean Energy Agenda 2030 is a joint climate and clean energy initiative by India with the US.
This initiative was started with the objective of:
- Mobilising investments
- Demonstrating clean technologies; and
- Enabling green collaborations in India in order to create templates of sustainable development for other developing countries.