From UPSC perspective, the following things are important :
Prelims level : Green Growth Equity Fund
Mains level : Paper 3- Climate change, Steps taken by India to mitigate the impact, collaboration in innovation with other countries.
Both India and the UK are exploring how best to develop the technology and investment needed to spur the transition from fossil to renewable fuels and make this a beneficial trajectory for everyone.
Areas of collaboration with the UK
- Resilience to climate change: To build resilience to climate risks, the U.K. is working with the Mahatma Gandhi National Rural Employment Act to build flood defences and river structures to encourage aquifer replenishment.
- Monsoon forecasting: Together with India’s Ministry of Earth Sciences, we are gathering land, sea and atmospheric data to help deliver a decisive step forward in monsoon forecasting.
- Electric mobility: On electric mobility, a major joint venture between UK’s EO Charging and India’s Yahhvi Enterprises will deliver world-class smart charging infrastructure for electric vehicles across India.
- Finance of Green Growth Equity Fund: On finance, the U.K. government committed 240 million pounds of anchor capital in the Green Growth Equity Fund.
- Its first investment going to Ayana Renewable Power, which is developing 800MW of solar generation capacity.
India’s efforts to tackle climate change
- India’s size and ecological diversity have placed it on the frontlines of global warming.
- India walking the talk on climate change: It is on course to deliver the target of 40 per cent electricity generation from non-fossil fuels by 2030.
- ISA: India has already demonstrated this personal commitment on the world stage with the India-led International Solar Alliance.
- CDRI: India also announced the global Coalition for Disaster Resilient Infrastructure, both of which the UK a part of.
- India and the UK can also work together on–
- Resilience and adaption.
- Clean energy.
- Green finance and nature-based solutions.
- Infrastructure development.
- Sustainable energy and smart cities.
India and the UK need to make sure that the present partnership on climate and the environment go from strength to strength in the future.