The United States of America (USA) has become the 101st member of the inter-governmental treaty-based International Solar Alliance (ISA).
Key Points:
i.John Kerry, the US special presidential envoy for climate, has signed the framework agreement and announced its membership at the 26th Conference of Parties (COP26) of the United Nations Framework Convention on Climate Change (UNFCCC), which is being held in Glasgow, Scotland, United Kingdom (UK).
ii.On November 2, 2021, India and UK jointly launched the world’s 1st ‘green Grids’ Initiative, the One Sun One World One Grid (GGI-OSOWOG) on the sidelines of the COP26 summit to connect energy grids across borders to facilitate a faster transition to the use of renewable energy.
iii.At COP26, the USA joined the steering committee of the ‘One Sun One World One Grid’ initiative, which now includes Australia, France, the UK and India.
About ISA:
i.The International Solar Alliance (ISA), an inter-governmental organisation formed by India and France to accelerate the global adoption of solar power.
ii.The ISA was conceived as a coalition of solar-resource-rich countries (which lie either completely or partly between the Tropic of Cancer and the Tropic of Capricorn) to address the special energy needs.
iii.It was launched on 30th November 2015 by the Prime Minister of India, Narendra Modi, and the former President of France, Francois Hollande, at the COP-21 in Paris, France.
-ISA Established an Investment Advisory Committee in Partnership with Nordic Institutional Investors
The ISA has established an investment advisory committee composed of leading institutional investors, including multilateral and commercial organizations and has partnered with Nordic institutional investors to guide ISA on mobilising $1 trillion for investment in solar energy by 2030.
Key Points:
i.The partnership initially focuses on the Nordic countries – to mobilize more private finance for solar energy in emerging markets and developing economies.
ii.The advisory committee members include senior representatives from Africa50, CDPQ Global, IFC (International Finance Corporation), the Development Bank of Southern Africa, Capricorn Investment Group and Temasek.
iii.At COP26, World Resources Institute (WRI), in partnership with the International Solar Alliance (ISA) and Bloomberg Philanthropies, launched a Solar Investment Action Agenda.
iv.The agenda will guide the development of a Solar Investment Roadmap to be released in 2022.
Note – The Nordic countries are a geographical and cultural region in Northern Europe and the North Atlantic.
Recent Related News:
The Ministry of External Affairs (MEA) stated that the Kingdom of Denmark has signed the framework agreement of the International Solar Alliance Framework Agreement (ISA FA) and Instrument of Ratification with India.
About the United States:
Capital – Washington, D.C.
Currency – United States Dollar
President – Joe Biden
