During his US visit, Prime Minister Narendra Modi expressed support for new global climate pact to be signed in Paris by end of 2015; two countries to cooperate on various climate protection and energy security measures
A highlight of Indian Prime Minister Narendra Modi’s visit to the US last week was the joint declaration with US president Barack Obama to address the threat of climate change and energy issues. Keeping in view India’s rising energy demands, energy access problems and need to enhance adaptation and loss and damage framework, the two leaders launched a partnership on clean energy, energy security and climate change.
Modi-Obama also reaffirmed efforts to strengthen the US-India Partnership to Advance Clean Energy (PACE). A set of priority areas identified under PACE will help India expand its renewable energy capacity within its electricity grid, and pursue alternative energy sources.
Yet another venture under this set of agreements is the extension of the Promoting Energy Access through Clean Energy (PEACE). The PEACE programme is set to provide increased levels of private sector investment and fast track the implementation of cost effective, super energy-efficient appliances to provide a million more people access to modern sources of energy. In order to enhance private sector investment, the governments also agreed to form a new Clean Energy Finance Forum.
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