U.S.-India Economic and Financial partnership                                                          

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Context: 8^th U.S.-India Economic and Financial partnership meet held.

 

Key highlights of meet:

• For the first time a session is held dedicated to climate finance.
• It reflected the “critical” role climate finance has to play in achieving global climate goals and the two sides’ commitments to drive “urgent progress” in combatting climate change.
• In the run-up to the UN Climate Change Conference (COP26) in Glasgow at the end of the month, India has been pushing for rich countries to meet their Paris Accord climate finance commitment of $100 billion per year.
• The two sides reaffirmed the collective developed country goal to mobilise $100 billion annually for developing countries from public and private sources.
• It intend to engage further on addressing climate change through the Finance Mobilization pillar of Climate Action and Finance Mobilization Dialogue under the S.-India Climate and Clean Energy Agenda 2030 Partnership.
• India has been under pressure, including from the U.S. and U.K., to provide a deadline to reach ‘Net Zero’ emissions.

https://www.thehindu.com/todays-paper/tp-business/us-india-ministerial-dialogue-adds-focus-on-climate-finance/article37014798.ece