Germany announces €1.2 bn support to India in tackling climate change

Germany in a statement said the focus of the financial commitment to India will be to fight climate change and support in the country’s ongoing energy transition.

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Germany announces €1.2 bn support to India in tackling climate change

On Wednesday, Germany announced new commitments of almost worth €1.2 billion, or Rs 10,025 crore, to India supporting to fight climate change.

Germany in a statement said the focus of the financial commitment to India will be to fight climate change and support in the country’s ongoing energy transition.

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The announcement was made amid the visit of a delegation from the German Ministry of Economic Cooperation and Development. The Indo-German bilateral cooperation is based on four key megatrends i.e. climate change, urbanisation, degradation of natural resources, pressure on democracy and society.

German Ambassador Walter Lindner said, “Every fifth person on this planet is Indian. Without them one cannot solve world problems, and climate change is biggest among them. We try to coordinate  together with India and help with climate change, renewable energy, and similar projects, which also leads working towards our own targets we promised at COP26 in Glasgow’’.“At COP26, India and Germany agreed to phase down sustained coal power. Germany will exit coal by 2038, possibly much earlier. And India has just joined a multilateral Coal Transition Programme funded by the Climate Investments Funds and supported by Germany. Very concretely, India has already identified 50 gigawatts of coal plants for retirement by 2027,” said German Embassy in a statement.

The Intergovernmental Panel on Climate Change (IPCC) found that both India and Germany will suffer more extreme events due to climate change. Both countries together account for nearly 9 percent of global greenhouse gas.

Germany is already working with India in the focal areas of Energy (€5.08 bn), Sustainable Urban Development (€3.16 bn), Management of Natural Resources and Agriculture (€435 mn), and other activities, specifically vocational training, health and social protection (€568 mn).

In this new commitment, Germany has allotted €713 million for energy, €409 million for urban development, and €90 million for agroecology and natural resources. These projects will include supporting India’s goals to expand solar power generation.

Source: Indian Express, Business standard

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Germany announces €1.2 bn support to India in tackling climate change
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Germany in a statement said the focus of the financial commitment to India will be to fight climate change and support in the country’s ongoing energy transition.
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THE POLICY TIMES
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