India not among 118 nations that pledged to push green energy

India not among 118 nations that pledged to push green energy

Subject: Environment

Section: International Conventions

Context:

• As many as 118 countries DUBAI signed a pledge to triple installed renewable energy capacity by 2030 during the ongoing COP­28 climate summit here on Saturday and India is among those countries whose name is not on the list.

Objectives of Global Renewables and Energy Efficiency Pledge 

• The pledge committed to tripling worldwide installed renewable energy generation capacity to at least 11,000 gigawatts(GW) and to double the global  average annual rate of energy efficiency improvements to more than 4% by  2030.

Why didn’t India sign?

• As per some apprehensions some of the language in the text was “problematic”.

What are the Initiatives taken by India to Promote Renewable Energy?

• National Solar Mission (NSM): The 100 GW solar ambition at the heart of the world’s largest renewable energy expansion programme.
• The Wind Energy Revolution: Leveraging India’s robust wind energy sector to boost clean energy manufacturing and the rural economy
• National Biofuels Policy and SATAT: Building value chains to reduce fuel imports, increase clean energy, manage waste, and create jobs
• International Solar Alliance (ISA): Harnessing the infinite power for the Sun for sustainable human development.
• Small Hydro Power (SHP): Harnessing the power of water to integrate remote communities into the economic mainstream.
• National Hydrogen Energy Mission (NHEM): Exploring the commercial viability of a versatile clean fuel.
• Production-Linked Incentive (PLI) Scheme: Integrating India into the global clean energy value chains.

What are the themes of COP28 Climate Summit?

• Emissions Mitigation Targets: Countries will engage in negotiations to set ambitious emissions reduction targets, aligning with the broader goal of limiting global temperature rise set in the Paris Conference (2015).
• Phase Down vs Phase-Out: Developed nations may push for an accelerated phase-out, but developing countries, including India, face challenges in balancing energy security needs with emission reduction goals.
• Climate Finance: The provision of financial support from developed to developing nations for climate mitigation and adaptation efforts will be a contentious issue.
• For Example: Developing countries will need at least $200 billion every year by 2030 to adapt to worsening climate impacts like coastal sea rise or storms, according to the U.N.
• Industry-led solutions: COP28 climate summit will likely witness discussions on harnessing industry-led innovations to drive sustainable development and reduce carbon footprints.
• Low-carbon Innovation: Emphasis on fostering low-carbon innovations and technologies will be a key aspect of the conference, with a focus on creating a pathway for a sustainable future.
• Progress on operationalizing the Paris Agreement article: COP28 climate summit will assess progress on operationalizing the various aspects of the Paris Agreement, including mechanisms for reporting and transparency.
• Reforming the role of private sector investment: The role of private sector investment in climate actions will be under scrutiny, with discussions on how private capital can be effectively mobilized to address climate challenges.