India to meet emission reduction goals under Paris climate agreement
POWER & RENEWABLE ENERGY

India to meet emission reduction goals under Paris climate agreement

Minister of Finance Nirmala Sitharaman has told the International Monetary Fund (IMF) that India is on track to achieve its Paris climate agreement goal to drop emissions by 33-35% of its GDP by 2030 from the 2005 level. Sitharaman, in her address to the IMF Committee, said that India barely makes it to the list of top 100 countries in terms of per capita emissions and its per capita energy use is less than half the world average. But, India is all set to reach its Paris Agreement targets - to decrease emissions by 33-35% of its Gross Domestic Product (GDP) by 2030 from the 2005 level; India will likely do better than this goal.

The share of non-fossil fuels in electricity production capacity would reach about 60%, over 40%, that India had pledged. Sitharaman said that India has started on the most ambitious renewable energy project in the world aiming at 450 GW by 2030, which can become a game-changer in India's fight against climate change and will assist in securing the world's climate change.

Sitharaman said that the difficult challenge for India and the rest of the developing nations is the access to adequate and affordable finance and low-cost technology, which is the support for limiting carbon footprint.

The developing nations will need new investments of up to $500 billion yearly by 2030 - to sufficiently restrict their increasing greenhouse gas emissions. These nations will also need an additional several hundred billion dollars to protect themselves from the worsening physical and economic impacts of greenhouse gases.

A recent Oxfam Report finds that the true value of support for climate action of $100 billion yearly committed by advanced nations under the Paris Agreement may be as little as $19-22 billion per year, the finance minister added.

Image Source

Also read: India to achieve Paris Agreement's NDCs limit of 40% power capacity

Minister of Finance Nirmala Sitharaman has told the International Monetary Fund (IMF) that India is on track to achieve its Paris climate agreement goal to drop emissions by 33-35% of its GDP by 2030 from the 2005 level. Sitharaman, in her address to the IMF Committee, said that India barely makes it to the list of top 100 countries in terms of per capita emissions and its per capita energy use is less than half the world average. But, India is all set to reach its Paris Agreement targets - to decrease emissions by 33-35% of its Gross Domestic Product (GDP) by 2030 from the 2005 level; India will likely do better than this goal. The share of non-fossil fuels in electricity production capacity would reach about 60%, over 40%, that India had pledged. Sitharaman said that India has started on the most ambitious renewable energy project in the world aiming at 450 GW by 2030, which can become a game-changer in India's fight against climate change and will assist in securing the world's climate change. Sitharaman said that the difficult challenge for India and the rest of the developing nations is the access to adequate and affordable finance and low-cost technology, which is the support for limiting carbon footprint. The developing nations will need new investments of up to $500 billion yearly by 2030 - to sufficiently restrict their increasing greenhouse gas emissions. These nations will also need an additional several hundred billion dollars to protect themselves from the worsening physical and economic impacts of greenhouse gases. A recent Oxfam Report finds that the true value of support for climate action of $100 billion yearly committed by advanced nations under the Paris Agreement may be as little as $19-22 billion per year, the finance minister added. Image Source Also read: India to achieve Paris Agreement's NDCs limit of 40% power capacity

Next Story
Infrastructure Urban

CONCOR Launches Double-stack Service Between NCR and Varnama

State-run Container Corporation of India (CONCOR) has launched double-stack container train services between the National Capital Region (NCR) and Varnama near Baroda. This initiative aims to facilitate customers at Nhava Sheva near Mumbai, home to Jawaharlal Nehru Port (J N Port). On December 21, the first double-stack container train from Khatuwas and Dadri in NCR reached CONCOR’s Gati Shakti Multimodal Cargo Terminal (GCT) at Varnama, situated along the Western Dedicated Freight Corridor (WDFC). The train carried export cargo destined for J N Port, according to a statement from the state..

Next Story
Infrastructure Transport

Less than 10% of Rs 40 Billion State-aid for Shipbuilding Utilised

A government-sanctioned financial assistance program worth Rs 40 billion, intended to support local shipbuilders over a decade starting in April 2016, has seen minimal utilisation, with only Rs 3.85 billion—less than 10 per cent of the total fund—disbursed thus far. With 15 months remaining before the scheme concludes, its uptake has been limited. The financial aid applies to shipbuilding contracts signed between April 1, 2016, and March 31, 2026. According to a written response provided by Union Minister of Ports, Shipping, and Waterways Sarbananda Sonowal to the Rajya Sabha on December ..

Next Story
Infrastructure Transport

Civil Aviation Minister Opens New ATC Tower at Indore Airport

The Minister for Civil Aviation, Ram Mohan Naidu Kinjarapu, inaugurated the new Air Traffic Control (ATC) Tower-cum-technical block at Devi Ahilyabai Holkar International Airport in Indore, Madhya Pradesh. During the inauguration, the minister toured the facility, where ATC experts explained various technical aspects of tracking and coordinating flights from the newly constructed tower. In addition to the ATC tower, the airport has also introduced a zero-waste plant. The union minister confirmed that this initiative aligns with the government’s commitment to sustainability. Minister Ki..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000