India committed to meeting pledges under 2015 Paris climate pact

US climate envoy John Kerry said he spoke with India’s Prime Minister Narendra Modi about how the US could help mobilize finance for the country to reduce risks in producing alternative energy in the fight to curb climate change, Reuters reported.

Kerry, the special presidential envoy for climate, said he spoke with Modi about how the US could help mobilize finance by bringing “concessionary finance” to the table to reduce India’s risks in dealing with first losses on the transition to clean energy.

Then the US could “bring more money to the table for a normal commercial investment that could quickly start producing alternative fuel,” said Kerry, speaking in an International Monetary Fund seminar from New Delhi.

AFP reported that Modi told Kerry that New Delhi is committed to meeting its pledges under the 2015 Paris climate change agreement and that it is on track to meet them.

Kerry said the US officials will support India’s climate plans by helping the country with affordable access to green technologies and financing, a statement by India’s External Affairs Ministry said after Kerry met with Modi.

Under the Paris agreement, India has committed to cut greenhouse gas emissions intensity of its gross domestic product 33% to 35% by 2030, increase non-fossil fuel power capacity to 40% from 28% in 2015 and substantially boost forest cover to reduce carbon dioxide.

India’s Environment Minister Prakash Javadekar recently said India already has achieved 21% of its pledge to reduce the emissions intensity of GDP by 33-35% by 2030, AFP reported.