NEW DELHI: India and the United States of America (USA) launched a joint platform on Monday, September 15, and collaborated to mobilise finances and deploy clean technology for faster energy transmission. The platform named ‘Climate Action and Finance Mobilisation Dialogue (CAFMD)’ will help both the countries move towards decarbonisation in sync with their respective commitments to deal with climate change.
The sources said that the next course of action for USA will be to join the International Solar Alliance (ISA) and drive the world towards clean energy transmission. The three pillars of CAFMD will be developing proposals which can help curb carbon emissions, mobilising finance and investment in innovative clean energy technology, and climate adaption and resilience.
While launching the platform, Bhupendra Yadav, Minister of Environment, Forest and Climate Change, Government of India, said that this dialogue would work to mobilise and deliver climate finance mainly as grant aids and concessional funds, as mentioned under the Paris Agreement, in order to strengthen climate action.