Climate Ambition Summit 2020 held virtually

  • IASbaba
  • December 14, 2020
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Climate Ambition Summit 2020 held virtually

Part of: GS Prelims and GS-III – Environment

In news

  • The United Nations, United Kingdom and France co-hosted the Climate Ambition Summit 2020 which was held virtually recently.

Key takeaways

  • The Summit marked the five years of the adoption of the Paris Agreement on Climate Change.
  • The summit aims to bring together leaders to make new commitments to tackle climate change and deliver on the goals of the Paris Agreement.
  • The United Kingdom pledged to double its climate finance contribution to USD 15.5 billion over the next five years.
  • The European Investment Bank announced a goal of 50% of investments going toward the climate and environment sectors by 2025.
  • It also called for climate finance commitments to support the most vulnerable and ambitious adaptation plans and underlying policies.
  • According to Indian Prime Minister, India is not only on track to achieve its Paris Agreement targets, but to exceed them beyond expectations.

Do you know?

  • India has reduced emission intensity by 21% over 2005 levels.
  • Solar capacity has grown from 2.63 GigaWatts in 2014 to 36 GigaWatts in 2020.
  • Renewable energy capacity is the fourth largest in the world.
  • It will reach 175 GigaWatts before 2022.
  • India has also set new target of 450 GigaWatts of renewable energy capacity by 2030.
  • On the world stage, India has pioneered two major initiatives: (1) The International Solar Alliance; (2) Coalition for Disaster Resilient Infrastructure.

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