Environment and Development Minister, Erik Solheim and the Indian Environment Minister, Jairam Ramesh have signed a cooperation agreement between Norway and India. The agreement focuses particularly on the CDM in the Kyoto Protocol.
This agreement is part of efforts to strengthen environmental cooperation with India, and India places great emphasis on the Clean Development Mechanism (CDM) which is considered to be a major tool for reducing greenhouse gas emissions and the importance of transferring resources and technology.
India is today the second largest recipient after China by CDM transfers. 1400 projects have been approved, and if these are implemented by 2012 it will provide $ 6 billion to India and this amount will compensate 10% of the country’s greenhouse gas emissions.
– Norway and India have a long and good cooperation, and this agreement further develops this cooperation, said the Indian Environment Minister, Jairam Ramesh, after the agreement was signed.
– Cooperation between Norway and India have great potential, and the oil fund now makes more green investments in India, “said Environment and Development Minister of Norway, Erik Solheim.