Recently, the government laid out standards and approvals for green hydrogen. It ensures a clearer process for how green hydrogen is produced, certified, and monitored. It’s part of making India ready to scale this fuel in a safe, reliable way.
If these and other climate mitigation measures are to take off, climate action needs to be more decentralised. States and local governments need to take more active steps in easing regulations.
📋 link:https://lnkd.in/geN8gp8E
📋link: https://lnkd.in/dMMV6PJN
There have been several efforts to enhance the sustainability of India’s development pathway by integrating high economic growth and building resilience to climate change. Nine national missions are addressing critical areas such as solar energy, water, energy efficiency, forests, sustainable habitat, sustainable agriculture, the Himalayan ecosystem, strategic climate knowledge, and, more recently, human health. A comprehensive set of climate actions, spanning adaptation, mitigation, and demand-side management, is being implemented through these missions.
How Much Money Needed
India’s climate ambitions are reflected through the Nationally Determined Contributions (NDCs) and the announcement of Net Zero emissions by 2070. India requires around USD 2.5 trillion (at 2014-15 prices) to meet the NDC targets till 2030. As per NITI Aayog’s India Energy Security Scenarios (IESS) 2047, a scenario-building tool, the total investment required for energy transition is estimated at USD 250 billion per year till 2047. However, this cost does not include the cost of EV infrastructure, demand infrastructure such as new iron and steel plants, etc.
Finance for adaptation action is vital for addressing climate change impacts, building resilience and achieving India’s development goals. Preliminary estimates indicated that about USD 206 billion (at 2014-15 prices) would be required from 2015 to 2030 to implement adaptation actions in agriculture, forestry, fisheries, infrastructure, water resources and ecosystems.3 According to the Initial Adaptation Communication4 submitted by the country in December 2023, the cumulative expenditure needed for adaptation in a Business as Usual (BAU) scenario is estimated to be ₹56.68 trillion (approx. USD 648.5 billion)5 till 2030 at 2023- 24 prices.
