President Biden‘s climate envoy John Kerry said the United States would support India’s climate plans and help it access the technologies and finance to achieve those goals, a promise of cooperation that Prime Minister Narendra Modi and officials of his cabinet predict that it will result in a more rapid deployment of cleantech. Kerry is in India this week to speak with Asian energy leaders and pressure the Modi government to push forward its climate ambitions as it considers announcing a net zero target ahead of a virtual summit hosted by the United States later this month.
India, the world’s third-largest emitter after the United States and China, has come under pressure to step up its climate commitments ahead of a Biden-hosted meeting of 40-nation leaders to take place April 22-23 and earlier. of the formal climate of the United Nations. talks in Glasgow in November. A 2047 target is being considered for India’s zero net commitment, officials told Bloomberg, earlier this year, a date that marks the 100th anniversary of India’s independence from British rule. The promise of 2050 has been widely embraced by other nations. When President Trump pulled the United States out of the voluntary Paris climate accord, he pinpointed allegations of lagging emission cuts from China and India. Some Republican lawmakers have said that any climate change initiative, including those tied to trade deals, must take into account the reliability of developing nations to meet and report on climate goals. Related: ‘Keep the Champagne’ on China’s Updated Climate Change Target: Guiding Markers Yet to Guarantee Net-Zero Emissions by 2060 China announced a net-zero target by 2060 last year. The Biden administration has said it aims for net zero US emissions by 2050, but is expected to soon outline what that path might look like by 2030. The US and China account for about 45% of all global emissions . Biden’s infrastructure proposal calls for the US to invest $ 35 billion in cleantech and spend $ 174 billion on overhauling the nation’s electric vehicle market. Congressional approval is required. Read: Yellen says Biden’s tax increases will fund traditional and ‘modern’ infrastructure World leaders are positioning themselves on this key issue ahead of the Biden climate summit and Glasgow meeting. The director of the International Monetary Fund, Kristalina Georgieva, has emphasized this week at IMF and World Bank meetings the role she sees for financial institutions when it comes to curbing global warming. He had a public roundtable with Kerry on Wednesday as part of those meetings. “2021 has the potential to be THE year of climate action,” Georgieva said. “We have the presidency of the G-7 doing [climate change] a priority, the G-20 makes this a priority, ”he said. “We have Cop-26 [in Glasgow]. We have science speaking loud and clear and we have a multilateral environment in which countries are stepping up their net zero commitments in 2050 and, in the case of China, in 2060. Using this to build strong momentum is what we strongly support in the IMF. “Related: Government May Leverage Private Spending to Fight Climate Change, Says Yellen