Leaders’ Summit on Climate
- 24 Apr 2021
- 5 min read
Why in News
Recently, the Leaders' Summit on Climate was convened by the US President virtually.
- 40 world leaders, including the Prime Minister of India, were invited to the event to underscore the urgency of stronger climate action.
- This summit is seen as a key milestone on the road to the United Nations Climate Change Conference, Conference of the Parties 26 (COP 26) in November 2021 in Glasgow, Scotland.
- India-US Clean Energy Agenda 2030 Partnership:
- It is a joint climate and clean energy initiative of India with the US.
- It will demonstrate how the world can align swift climate action with inclusive and resilient economic development, taking into account national circumstances and sustainable development priorities.
- Mobilise investments, demonstrate clean technologies and enable green collaborations in India that could also create templates of sustainable development for other developing countries.
- Two Main Tracks of the Initiative:
- The Strategic Clean Energy Partnership.
- The Climate Action and Finance Mobilization Dialogue.
- US’ Stand:
- To cut the US’s GreenHouse Gas (GHG) in half by the year 2030 and called upon other nations to “set higher climate ambitions” that will create jobs at home, advance innovative technologies and help countries vulnerable to the impact of climate change.
- To double its public climate financing to developing countries and triple public financing for climate adaptation in developing countries by 2024.
- India for stepping up its climate change commitment including the partnership with the US to deploy 450 gigawatts of renewable power to meet the ambitious 2030 target for climate action and clean energy.
- China’s Stand:
- Carbon Neutrality:
- Common but Differentiated Responsibilities:
- It also emphasised on the principle of common but differentiated responsibilities, which argues for long-time polluters such as developed countries to do more to fight the climate crisis.
- Carbon Neutrality:
- India's Stand :
- India was already doing its part and that the country’s per capita carbon emissions are 60% lower than the global average.
- Some Indian Initiatives to Fight Climate Change:
- There is an urgent need for every country, city, business and financial institution to adopt concrete plans for transitioning to net-zero.
- Even more urgent is for governments to match this long-term ambition with concrete actions now, as trillions of dollars are mobilised to overcome the Covid-19 pandemic. Revitalising economies is our chance to re-engineer our future.
- The G7 Summit in June 2021 offers the opportunity for the world’s wealthiest countries to step up and provide the necessary financial commitments that will ensure the success of COP26.