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India, Germany agree to provide financial support to climate conservation projects

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Energy World - Economic Times
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India and Germany on Wednesday agreed to provide financial support to climate conservation projects aimed at reducing greenhouse gas emissions, promoting renewable energies and sustainable forest management in India. Addressing the third Indo-German Environment Forum in New Delhi, German Federal Minister for Environment, Nature Conservation and Nuclear Safety, Svenja Schulze said, "India is an important partner in climate policy. We appreciate India's ambitious climate goals and we support India in reaching them. Minister Vardhan and I have agreed on additional financial support for further climate projects that help to reduce greenhouse gas emissions, to promote renewable energies and sustainable forest management in India."

"Germany will provide 35 million EUR for such projects in the years to come. Only in all countries join forces will it be possible to fulfil the Paris Agreement and to limit global warming to less than 2 degrees," Schulze added.

Both India and Germany are in the process of outlining a Comprehensive Climate Change Act, laying down targets of emission reduction for all relevant sectors of the Indian economy.

"Mitigating greenhouse gas emissions requires legislation to catch up. Let me give you an example: In Germany, we have decided to phase out coal-fired power generation. In order to achieve this, we are drawing up a comprehensive climate change act, which will lay down binding emission reduction targets for all relevant sectors," Schulze said.

"Germany will phase out coal-fired power generation by 2038 at the latest. The coal phase-out will go hand in hand with an intensive expansion of renewable energies. Renewables will change mobility, too. India has set itself the ambitious goal of completely electrifying road transport by 2030. I am convinced that India and Germany can benefit from closer cooperation in this area as well," the German Ministry of Environment, Nature Conservation and Nuclear Safety said in a statement.