Dubai, In a pivotal moment during the COP28 global climate talks, US Special Envoy on Climate Change, John Kerry, underscored the significance of India’s electrification push in the transport sector. Kerry emphasized that the expeditious implementation of this initiative not only aligns with environmental objectives but also serves to reduce greenhouse gas emissions, combat pollution, and bolster India’s overall security.
Addressing attendees at the Indian Pavilion, Kerry expressed, “Electrification in India is one of the biggest opportunities that we have. The faster that India can do this, the more it cuts greenhouse gas emissions and it cuts pollution, it increases India’s security.” He commended Prime Minister Narendra Modi’s visionary concept of a circular economy and the efforts to expand access to low-carbon public transport.
Kerry stressed the collaborative nature of this initiative, applauding India’s commitment to electrify 50,000 buses—a monumental step towards fostering sustainable transportation practices. Environment Minister Bhupendra Yadav, also present at the event, highlighted the pivotal role of electric vehicles (EVs) in achieving net-zero emissions.
During his address, Yadav acknowledged the challenges faced by public transport authorities (PTAs) in transitioning to electric buses (e-buses), particularly regarding high upfront costs and lower revenue realization. To address this, he introduced the India-US Payment Security Mechanism (PSM) for e-buses.
The PSM is designed to incentivize both Indian and international original equipment manufacturers (OEMs) or bus operators to actively participate in e-bus operations. This mechanism holds the potential to establish a manufacturing hub in India, contributing significantly to the growth of the e-bus industry and facilitating e-bus exports.
This move builds upon India’s successful deployment of 50,000 electric vehicles, showcasing the nation’s commitment to sustainable and eco-friendly transportation practices. The collaborative efforts underscored by Kerry and Yadav at COP28 aim to propel India towards a cleaner, more secure, and environmentally responsible future.
By PTI
