India and Germany today agreed to work together to reach an "ambitious" climate agreement in Paris later this year and stressed that adaptation must be a central part of a balanced accord.
Noting the commitment of developed countries to jointly mobilize USD 100 billion from public and private sources per year by 2020 for funding green technology in developing countries, both the countries stressed that climate finance will play a "key" role beyond 2020 and also be an important part of the 2015 agreement.
Prime Minister Narendra Modi and German Chancellor Angela Merkel, who is on a visit to India, also emphasized that tackling the issue of climate change is of "vital importance" for the sake of today's world and future generations.
"India and Germany express their readiness to work together and with other countries to reach an ambitious and universal climate agreement under the Convention (UNFCCC).
"They reaffirm that the protocol, another legal instrument or agreed outcome with legal force under the Convention applicable to all parties, shall address in a balanced manner...
"... - mitigation, adaptation, finance, technology development and transfer, and capacity-building, and transparency of action and support," an Indo-German joint statement on climate change and energy technology cooperation said.
Germany welcomed India's recent submission of its intended nationally determined contribution (INDC) or voluntary pledges to cut carbon emissions.
India too appreciated Germany's ambitious mitigation efforts which included its goal to have at least 80 per cent electricity consumption from renewable sources by 2050 compared to 27 per cent today.
India in its INDC submitted last week has pledged to curb its greenhouse gas emissions intensity by up to 35 per cent from the 2005 level and also announced that it aims at achieving around 40 per cent cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030.
"Both nations underlined that adaptation must be a central part of a balanced Paris Agreement. Both countries will endeavour to continue their long-lasting cooperation in integrating adaptation into national and state development planning and action.
"In addition, both countries will explore opportunities in enhancing cooperation in the field of climate risk insurance," the statement said.
India has been stressing on adaptation as a key component of a climate deal in Paris.
