Climate Change: Germany announces Euro 1.2 bn to aid India
Germany has announced new development commitments of around Euro 1.2 billion aid to India, in support of India’s fight against climate change.
- This fund will also be used for cooperation on clean energy.
- Announcement for aid was made amid the visit of a delegation from German Ministry of Economic Cooperation & Development.
- Indo-German cooperation rests on four key megatrends namely, Urbanisation, climate change, pressure on democracy & society and degradation of natural resources.
- Germany is currently working with India in the focal areas of:
- Energy (€5.08 bn)
- Sustainable Urban Development (€3.16 bn)
- Management of Natural Resources & Agriculture (€435 mn)
- Health and social protection (€568 mn).
- Under its commitments, Germany allotted:
- €713 million for energy
- €409 million for urban development
- €90 million for agroecology & natural resources.
- These projects will support India’s targets to expand solar power generation.
India & Germany on climate change
India and Germany account for around 9 per cent of global greenhouse gas (GHG). Thus, a strict policy of climate neutrality is the only way forward. Germany has raised its climate ambition and targets to reach climate neutrality by 2045. It also seeks for emissions reductions in energy & industry sectors by 77 percent and 58 percent respectively as compared to 1990. On the other hand, India targets to achieve net-zero emissions by 2070. At COP26, both the countries agreed to phase down unabated coal power. India has already identified 50 gigawatts (GW) of coal plants that will be retired by 2027.
Category: International Current Affairs
|View All E-Books: Recent Release|