Amitabh Kant, a public policy think tank of the Government of India, stated on Thursday, February 22, that the nation should start exporting green energy by 2047 in order to attract funding.
Also, at the Raisina Dialogue 2024, Kant said that climate change is the greatest problem facing the world now and that the World Bank should change its designation to a climate bank.
Attracting Capital
In a report by The Financial Express, Kant said that becoming green would allow nations to attract finance and that all investments going forward would be directed toward the renewable industry. "By 2047, India should be an exporter of green energy ...The countries will be able to attract capital if they go green."
The global south, according to Kant, must forge a new course, and individual nations must strive for revitalization.
Kant argues that biofuels have the potential to significantly contribute to both employment creation and the attainment of clean fuel objectives.
He proposed that by 2050, renewable energy should account for 90% of the country's energy needs. He emphasized the need to have a solid legislative framework, strong leadership, and sufficient financing in order to promote renewable energy sources.
Green Commitment
According to The Times of India, the nation made a lofty five-point "Panchamrit" commitment at the United Nations Climate Change Conference, also known as COP26, in Glasgow, Scotland, in 2021.
Among these goals were the reduction of emissions by 1 billion tons by the year 2030, the generation of 50% of the world's energy from renewable sources, and the attainment of 500 GW of non-fossil power capacity.
On a national level, India is targeting a 45% drop in the intensity of emissions from gross domestic product (GDP). India has pledged to achieve zero net emissions by the year 2070.
