LEADERS SUMMIT ON CLIMATE
Summit is being hosted by the USA and participated by forty countries including India, China, Russia.
Declaration by United states of America:
It will cut its greenhouse gas emissions by 50%-52% by 2030 relative to 2005 levels.
By 2024, it would double its annual financing commitments to the developing countries, which is a part of a $100 billion a year commitment from developed countries to developing countries for the period 2020-25 under the climate summit.
By 2024, it will triple its funding to the adaptation fund
Significance of the announcement:
USA had earlier withdrawn itself from the Paris agreement and Leadership role in the climate front.
This announcement seems to be like a look back and ascertaining its leadership role again.
It will again improve the finances for the climate action, as withdrawal from Paris summit halted the promised $3 billion payment at $1 billion for the GREEN CLIMATE FUNDING
Climate action and clean technology will lead to the creation of jobs in the economy and the growth.
Announcement by India:
India and the US will be launching a climate and clean energy Agenda 2030 partnership during the summit.
Aim: To mobilise investments, demonstrate clean technology and enable green collaborations which needs to decarbonise various sectors of the economy.
And also build capacity to measure, manage, and adapt to the risks of climate-related impacts
Strategic clean energy partnership
Climate action and finance mobilization dialogue.