India will achieve its target of reducing 35 per cent emissions intensity of its GDP well before the year 2030, Union Environment Minister Prakash Javadekar said on Thursday.

The minister made the remarks while signing a memorandum of understanding (MoU) with Finland to develop cooperation between the two countries in the field of environment protection and biodiversity conservation.

The MoU was signed virtually by Javadekar and Finland's Environment Minister Krista Mikkonen.

"India has achieved its voluntary target of reducing emissions intensity of its GDP by 21 per cent over 2005 levels by 2020 and is poised to achieve 35 per cent reduction well before the target year of 2030," Javadekar said in the virtual event.

Emission intensity is the volume of emissions per unit of GDP.

The minister said that the MoU is a platform to further advance Indian and Finnish partnership and support, exchange best practices in areas like prevention of air and water pollution, waste management, promotion of circular economy, low-carbon solutions and sustainable management of natural resources, including forests, climate change and conservation of marine and coastal resources.

Speaking at the event Javadekar said that the MoU also provides the possibility to have joint projects in areas of mutual interest.

"This MoU will definitely commit us to work together more closely towards on the fulfilment of commitments made under the Paris Agreement," he said.

As part of its Nationally Determined Contributions (NDCs) submitted under the Paris Agreement, India has taken three quantitative climate change goals.

First is reduction in the emissions intensity of GDP by 33 to 35 per cent by 2030 from 2005 level, second is achieving about 40 per cent cumulative electric power installed capacity from non-fossil fuel based energy resources by 2030 and third is creating an additional carbon sink of 2.5 to 3 billion tonnes of carbon dioxide equivalent through additional forest and tree cover by 2030.

"The MoU will strengthen technological, scientific and management capabilities. It will develop bilateral cooperation in the field of environmental protection and biodiversity conservation on the basis of equality, reciprocity and mutual benefit with due respect to promotion of sustainable development," the Environment Ministry said in an official statement.