India and US launch the Climate Action and Finance Mobilization Dialogue (CAFMD)

India and the United States of America (USA) today launched the “Climate Action and Finance Mobilization Dialogue (CAFMD)”. The CAFMD is one of the two tracks of the India-U.S. Climate and Clean Energy Agenda 2030 partnership launched at the Leaders’ Summit on Climate in April 2021, by Prime Minister Shri Narendra Modi and US President Mr. Joseph Biden.

The dialogue was formally launched by Union Minister of Environment, Forest and Climate Shri Bhupender Yadav and Mr. John Kerry, U.S. Special Presidential Envoy for Climate (SPEC), at an event held in New Delhi.

Speaking at the launch, Shri Yadav said that the dialogue will not only strengthen India-US bilateral cooperation on climate and environment but will also help to demonstrate how the world can align swift climate action with inclusive and resilient economic development, taking into account national circumstances and sustainable development priorities.

“India and the United States are natural partners with shared values and our agenda encompasses all major pillars of our strategic priorities – including defence, security, energy, technology, education and healthcare,” said the Environment Ministeremphasizing on the deep ties shared by the two mature and vibrant democracies.

Speaking at the launch of Climate Action and Finance Mobilization Dialogue (CAFMD), Mr. Kerry applauded Prime Minister Shri Narendra Modi for setting an ambitious target of achieving 450GW renewable energy by 2030 and congratulated India for already achieving 100 GW.

The US Climate envoy lauded India’s leadership role in demonstrating how economic development andclean energy can go hand in hand and stated that urgent Global Climate Action is the need of the hour.He stressed that India and US are working towards speedier deployment of clean energy.

The launch was preceded by a bilateral meet where both sides discussed at length a wide range of climate issues relating to COP26, Climate Ambition, Climate Finance, Global Climate Initiatives including International Solar Alliance (ISA), Agriculture Innovation Mission for Climate (AIM4C).