1.10. Climate Change

♤ India and the U.S. are advancing cooperation and dialogue on climate change through a high level Climate Change Working Group and a Joint Working Group on Hydroflurocarbon.

♤ As a priority initiative under the PACE (Partnership to Advance Clean Energy), the U.S. Department of Energy (DOE) and the Government of India have established the Joint Clean Energy Research and Development Center (JCERDC) designed to promote clean energy innovations by teams of scientists from India and the United States, with a total joint committed funding from both Governments of US$ 50 million.

♤ In November 2014, an MoU between U.S. EXIM Bank and Indian Renewable Energy Development Agency (IREDA) was concluded to provide US$ 1 billion in financing for India’s transition to a low-carbon economy.

♤ A new U.S.-India Partnership for Climate Resilience has been agreed to, in order to advance capacity for climate adaptation planning, as also a new U.S.- India Climate Fellowship Program to build long-term capacity to address climate change-related issues.

♤ To further collaboration in the area of clean energy and climate change, in June 2016, the two sides announced finalization of a package to provide concessional finance to support clean energy projects on track, to coordinate U.S. Government efforts on clean energy investment in India jointly with leading Indian financial institutions, and to provide liquidity to small scale renewable energy investors.