In the 2015 Paris Climate Conference, it was decided that global temperatures should not rise more than 1.5 degrees Celsius above pre-industrial levels. However, experts now believe that achieving this goal is unlikely under current policies. Despite India’s significant energy needs for development and its reliance on fossil fuels, the country has prioritized increasing clean energy production and consumption. Notably, India’s per capita carbon emissions are much lower than developed countries like the United States, China, and Germany.
India has set a target to produce 500 gigawatts of green energy by 2030, and Prime Minister Narendra Modi announced at the Glasgow Climate Summit that India aims to achieve zero carbon emissions by 2070. The nation has also recently launched the National Green Hydrogen Mission. In the interim budget, financial measures were announced to convert agricultural residues into energy sources. Additionally, PM Modi unveiled the Sunrise Scheme, aiming to install solar panels on one crore households from the low-income category, providing free electricity and allowing them to sell excess power to the grid.
India and France jointly established the International Solar Alliance after the Paris Climate Conference, with over 125 countries participating. This showcases India’s commitment not only to alternative and renewable energy within the country but also to encouraging global collaboration. At the Dubai Climate Summit, India informed the international community that it spent approximately 13.35 lakh crores on climate initiatives in 2021-22, representing about 5.6% of total domestic production. Over the next seven years, an additional expenditure of 57 lakh crores is anticipated for these efforts.
