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Climate Action and Finance Mobilization Dialogue (CAFMD)

Part of: Prelims and GS – II – International Relations

In News: India and the United States of America (USA) has launched the “Climate Action and Finance Mobilization Dialogue (CAFMD)”. The CAFMD is one of the two tracks of the India-U.S. Climate and Clean Energy Agenda 2030 partnership launched at the Leaders’ Summit on Climate in April 2021, by Prime Minister Shri Narendra Modi and US President Mr. Joseph Biden.

India and the USA, will engage for a constructive engagement under the “India-US Climate and Clean Energy Agenda 2030 Partnership” .These platforms provide greater opportunities for working together for climate actions and emphasized that India stands committed to working with the US on Clean Energy.
The dialogue will not only strengthen India-US bilateral cooperation on climate and environment but will also help to demonstrate how the world can align swift climate action with inclusive and resilient economic development, taking into account national circumstances and sustainable development priorities.
Lauded India’s leadership role in demonstrating how economic development and clean energy can go hand in hand and stated that urgent Global Climate Action is the need of the hour.

The launch was preceded by a bilateral meet where both sides discussed at length a wide range of climate issues relating to COP26, Climate Ambition, Climate Finance, Global Climate Initiatives including International Solar Alliance (ISA), Agriculture Innovation Mission for Climate (AIM4C).

News Source: PIB