$100 billion to be raised annually by India and U.S. to fight climate change

$100 billion to be raised annually by India and U.S. to fight climate change

$100 billion to be raised annually by India and U.S. to fight climate change

India and the U.S. on reaffirmed their commitment to raising $100 billion annually from public and private sector sources to help develop the two countries’ efforts to tackle climate change. The climate crisis was the first topic of discussion at a meeting of the India-US Economic and Financial Partnership on Thursday.

The meeting reflected the growing importance of U.S. – India relationship and the increasing economic and financial ties between the two economies, the joint statement said, and added that both sides eagerly anticipated continued dialogue and further strengthening of bilateral ties.

Carbon emissions are rebounding strongly and are rising across the world’s 20 richest nations, according to a new study. The Climate Transparency Report says that CO2 will go up by 4% across the G20 group this year, having dropped 6% in 2020 due to the pandemic. China, India and Argentina are set to exceed their 2019 emissions levels.