India-Finland Relation: MOU signed for Environmental Protection and Biodiversity Conservation

India and Finland have signed a Memorandum of Understanding (MOU) for the development of cooperation between both the countries. The MoU was signed in the field of Environment protection and biodiversity conservation.

Significance of the Memorandum of Understanding

  • The MoU has been signed to strengthen the partnership between Indian and Finland.
  • It will support and exchange the best practices from both the countries in areas including prevention of Air and water pollution, Waste management, low-carbon solutions, Promotion of circular economy, sustainable management of Climate change, Conservation of Marine, Coastal and other natural Resources.
  • This MOU will commit both the countries to work together more closely to comply with the commitments made under Paris Agreement.
  • The MoU also seeks to strengthen the technological, scientific and management capabilities.
  • It will also develop the bilateral cooperation in the field of environmental protection and biodiversity conservation based on the equality, reciprocity, mutual benefit and promotion of sustainable development.

India’s efforts towards Sustainable environment

India has voluntary reduced the emissions intensity of its GDP by 21% by 2020 as compared to the level in 2005. It further targets to achieve 35% reduction well before the target year of 2030. India has undertaken three climate change goals as a part of its Nationally Determined Contributions  under the Paris Agreement. The following three targets of India to be completed by 2030:

  1. To reduction the emissions intensity of Gross Domestic Product by 33 to 35 percent.
  2. To achieve about 40 percent electric power installed capacity from non-fossil fuel based energy resources.
  3. To create an additional carbon sink of 2.5 to 3 billion tonnes of carbon dioxide through additional forest and tree cover.

India-Finland Relation

The diplomatic relations between both the countries was established in the year 1949. Since then, the countries have worked upon strengthening the relation through the diplomatic, official visits and trade channels.  As of 2017, the bilateral trade between both the countries stands at 1.284 billion USD. The main items of exports to Finland include mineral fuels, mineral oils,  electronic goods, iron,  cotton, steel and other machinery appliances. While India imports nuclear reactors, pulp of wood and boilers from Finland.