Indian Economy News

India, Canada ink pact for stronger cooperation on climate action

India and Canada have signed a memorandum of understanding to strengthen bilateral collaboration on climate action, environmental preservation, and conservation. The two countries have agreed to collaborate, exchange information and expertise, and support each other's ambitions in a variety of areas, including increasing renewable energy capacity, decarbonizing heavy industries, reducing plastic pollution, promoting chemical safety, and ensuring sustainable consumption.

The Canadian government said in a statement that both countries are committed to supporting each other's climate and environmental goals by finding effective, long-term solutions that will also give an opportunity to boost economic growth and job creation. According to the report, Canada offers several proven clean technologies that could be of interest to India, including water and waste management systems, clean hydrogen, smart grids, and energy storage.

The MoU expands on existing cooperation between both countries, such as participation in the High Ambition Coalition for Nature and People, which advocates for world leaders to develop a post-2020 global biodiversity framework to conserve 30% of the world's marine and terrestrial areas by 2030.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.