- Friday, April 26, 2024
By: Shubham Ghosh
INDIAN finance minister Nirmala Sitharaman on Thursday (14) met her US counterpart Janet Yellen for the eighth ministerial meeting of the US-India Economic and Financial Partnership in Washington.
The meeting was also attended by US Federal Reserve chair Jerome Powell and his Indian counterpart Shaktikanta Das, the governor of India’s Reserve Bank of India who attended it virtually.
According to a joint statement, the ministerial meeting held a session dedicated to climate finance for the first time.
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The meeting took place in the run-up to Cop26 (UN Climate Change Conference) starting in Glasgow, Scotland, at the end of October. India has been pushing the rich countries to meet their Paris Accord climate finance commitment of $100 billion (£73 billion) per year.
During the meeting, the two sides “reaffirmed the collective developed country goal to mobilise $100 billion annually for developing countries from public and private sources, in the context of meaningful mitigation actions and transparency on implementation,” according to the statement.
Holding such a session, the statement added, reflected the “critical” role climate finance has to play in achieving global climate goals and the two sides’ commitments to drive “urgent progress” in fighting climate change.
