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.
