Leaders’ Summit on Climate | 24 Apr 2021

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.

Key Points

  • India-US Clean Energy Agenda 2030 Partnership:
    • About:
      • 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.
    • Objective:
      • 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:
    • Pledged:
      • 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.
    • NDC:
    • Applauded:
      • 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:
      • Its carbon emissions will peak before 2030 and the country will achieve carbon neutrality by 2060.
        • Promoted its green Belt and Road Initiative and announced efforts to “strictly control coal-fired power generation projects” and phase down coal consumption.
    • Common but Differentiated Responsibilities:
  • India's Stand :
  • Some Indian Initiatives to Fight Climate Change:

Way Forward

  • 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.

Source: IE