India Balances Economic Growth With Climate Commitments: NITI Aayog CEO
Date
9/12/2024 2:19:07 PM
(MENAFN- KNN India)
New Delhi, Sep 12 (KNN) NITI Aayog CEO B.V.R. Subrahmanyam addressed the complex relationship between India's economic growth and its climate commitments during a recent event.
He emphasised that while India remains dedicated to climate-friendly growth, fossil fuels continue to play a significant role in driving the country's economic expansion.
Subrahmanyam highlighted NITI Aayog's ongoing collaboration with states to develop a comprehensive roadmap for green energy transition. This initiative aims to chart a path towards achieving India's net-zero carbon emissions target.
A detailed document outlining this strategy is expected to be released in November.
The CEO stressed that market forces alone are insufficient to address the challenges posed by climate change.
He noted that India is on track to meet its climate targets under the 2015 Paris Agreement, despite contributing less than 4 per cent to global carbon emissions.
India has pledged to achieve net-zero emissions by 2070 and install 500 GW of non-fossil fuel-based electricity capacity by 2030, as part of its Nationally Determined Contributions (NDCs).
Subrahmanyam also pointed out that the Indian government is committed to increasing climate finance, even though the country's per capita energy consumption remains at half the global average.
He views climate change as an opportunity for India to emerge as a leader in green technology and sustainable growth models.
However, the NITI Aayog chief acknowledged challenges at the state level, noting that many states lack expertise in generating green projects.
This observation underscores the need for coordinated efforts between central and state governments to achieve India's climate goals while maintaining economic growth.
(KNN Bureau)
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