Strenthening ties for climate action: India's climate diplomacy with Nepal-planing for COP30

Abstract

India's developmental prosperity in the last quarter of FY24 saw its GDP grow by 8.2%, reaching ₹47.24 lakh crore, as reported by the Ministry of Statistics and Programme Implementation and the National Statistical Office. As expected this economic growth has surged India's carbon emissions, accounting for 6.8% of global CO2 emissions from combustible fuels in 2021, which is 156% higher than in 2000, and have reached 7.06% in 2024. As per India’s commintment in INDCs (Intended Nationally Determined Contributions) in COP21 India is expected to achieve about 40 per cent cumulative electric power installed capacity from non-fossil fuel based energy resources by 2030, with the help of transfer of technology and low cost international finance, including from Green Climate Fund. And against the backdrop of COP21 and COP26 commitments to decarbonize energy by 50% and achieve 500 GW of fossil fuel-free generating capacity by 2030, India has taken a significant step by partnering with Nepal to promote clean energy. During Indian External Affairs Minister S. Jaishankar's recent visit to Nepal, the two countries signed a 25-year energy trade agreement under which Nepal will export 10,000 MW of electricity to India over the next decade. This collaboration, needs to intensified along with investments in mega hydro projects, that represents a crucial aspect of contemporary climate diplomacy aimed at mitigating the climate emergency. Also this needs to be indicated to the intenational arena speciaclly for the COP30 summit to activate climate fund.

Keywords: India's GDP growth, carbon emissions, COP26, clean energy, Nepal, energy trade agreement, hydropower, climate diplomacy, international finance, including from Green Climate Fund.