The Prime Minister, Shri Narendra Modi and the Prime Minister of Denmark, Ms. Mette Frederiksen at the India-Denmark Virtual Bilateral Summit, in New Delhi on September 28, 2020.

“Let’s change the development in such a way that we will turn towards more green and sustainable way of living” – Freddy Svane

India and Denmark have begun a far reaching Green Strategic Partnership to enable Denmark in delivering sustainable solutions to India. The Green Strategic Partnership is an arrangement to advance political cooperation, expand economic relations and green growth, create jobs and strengthen cooperation on addressing global challenges and opportunities with focus on an ambitious implementation of the Paris Agreement and the UN Sustainable Development Goals.

The two countries will show the world that delivering on ambitious climate and sustainable energy goals is possible.

According to the Ministry of External Affairs, over 140 Danish companies are currently participating in the ‘Make in India’ initiative. Prime Minister Modi had earlier said they were indeed “making in India for the world”.

TFT: How could Covid 19 help to ignite a global, green economy?

Freddy SvaneFreddy Svane : The whole planet has been exposed to the consequences of the pandemic. There is no country that has not been suffering in this situation. Lots and lots of people have died. Huge stress of health issues has been arising in this situation. And this is not going to be the last pandemic. So, it calls for collaboration and an international cooperation. But in the order to move forward, I still recalled in the early days of the Covid situation in India, suddenly a lot of testimonials from across India saying that now they can see a clear view of the mountains. This is a common experience we have shared all across the world. So that is a kind of regenerated approach where I will say “Lets change the development in such a way that we will turn towards more green and sustainable way of living.” And that’s important, that’s why we think that this partnership is very important. If India changes and India is changing, then will have some sets of plans for next generation. So, let’s be green and let’s act in a greener way.

TFT: What are the Green Finance Strategies for Post Covid 19?

Freddy Svane : The Green Bonds Standards a Principles and recently the Social Bond Principles and Sustainability. Bond principles have become the leading global framework for the issuance of green, social and sustainability bonds for which the International Capital Market Association serves as secretariat.

TFT: What do you think is the future of Green Economy in India?

Freddy Svane : India has set an ambitious renewable energy expansion target of achieving 175 GW capacity by 2022. To achieve this, it has also created a “clean energy fund” which is currently funded through a cess on coal production, and managed by the Ministry of Finance.

 

“India and Denmark have begun a new era in the form of a far reaching Green Strategic Partnership” – Smita Bajoria

TFT: Please tell us about the Green Strategic Partnership

Freddy Svane & Smita BajoriaSmita Bajoria : The Green Strategic Partnership is a mutually beneficial arrangement to advance political cooperation, expand economic relations and green growth, create jobs and strengthen cooperation on addressing global challenges and opportunities with focus on an ambitious implementation of the Paris Agreement and the UN Sustainable Development goals. India and Denmark have begun a new era in the form of a far reaching Green Strategic Partnership that will enable Denmark in delivering sustainable solutions to India. The Green Strategic Partnership is a mutually beneficial arrangement to advance political cooperation, expand economic relations and green growth, create jobs, and strengthen cooperation on addressing global challenges and opportunities with focus on an ambitious implementation of the Paris Agreement and the UN Sustainable Development Goals

TFT: How can India & Denmark elevate ties to reach a Green Strategic Partnership?

Smita Bajoria : Two three years ago when I was in Denmark, I saw great advancements in the area of their fuel consumption. They use biofuels and are aiming to stop using other non-bio sources of fuel in the next 10 to 15 years. They are focused on using clean and renewable energy for various areas. The Indian Government and our Prime Minister are also moving towards bio fuel as an alternative fuel. Both the countries are thinking in the same direction. Denmark has started these initiatives ten years ago and recently India has come to the commitment that ideas and existing technology that will be shared to help India move forward. Out of the 140 companies already existing here, many of them are working in the clean water area and will be helping Indian Companies and the Indian Government in taken their ideas forward.

TFT: How can Green Finance Strategies help South East Asian Countries post Covid-19?

Smita Bajoria : People of South East Asia and India have realized, that a lot of issues are being caused by pollution. Covid-19 also has made us sit back and think about these issues in India and in Asia, India is basically thinking about quicker ways for a green, pollution free India. So, I think that more investments are going to be put into technologies with countries like the ones we are cooperating with that is Denmark and other Scandinavian countries, they will be sharing with us the technology that they have been following. Even the food we eat has fertilizers in it. So, stepping back after Covid-19, everyone has to realize that we have to go back to a more sustainable and a cleaner way of living. Therefore, Asia is going to invest a lot of time and money into this area and so is India in future.

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