As part of a White House announcement on climate change, clean energy, and the environment, today the United States and Government of India unveiled two new clean energy finance initiatives—the U.S.-India Clean Energy Finance Initiative and the U.S.-India Catalytic Solar Finance Program. The David and Lucile Packard Foundation, along with other U.S. foundations, have agreed to collaborate in the creation of these new initiatives that will spur up to $1.4 billion in new clean energy investment to help stave off dangerous climate change, alleviate energy poverty, and help India meet its greenhouse gas reduction targets.
The Packard Foundation is deeply committed to reducing greenhouse gas emissions because global climate change uniquely undermines everything we care about as an organization. By supporting the transition to clean energy sources, it is possible to achieve dramatic reductions in global carbon emissions and yield other significant benefits, such as healthier living conditions, increased energy security and access, and greater economic competitiveness.
You can learn more about this announcement here.
Photo Credit: © Abbie Trayler-Smith/Panos Pictures/ UK Department for International Development, CC By 2.0