Describe India's energy transition policy. What steps have been taken to mitigate climate change? | RBI Grade B Phase 1 Preparation - Bank Exams PDF Download

Describe India's energy transition policy. What steps have been taken to mitigate climate change?

India is one of the fastest-growing economies, home to over 1.4 billion people and currently the third- largest global carbon emitters, as per reports. This makes India indispensable to the success of the global energy transition and to a sustainable and climate-neutral global economy, and this year India's efforts towards sustainability will take the center stage. Bridging the gap between decarbonization and innovation in the renewable energy sector is India's largest issue. We will get closer to the larger targets by achieving our ambitious aim of growing our renewable energy capacity to 450 gigawatts by 2030. Through programmes like the International Solar Alliance, which has more than 70 member nations, we are additionally demonstrating leadership in the field of renewable energy worldwide.
Fortunately, without too much adequate government support, renewable energy has grown at an astonishing pace in recent years thanks to its plummeting cost. India, for example, has more than doubled its stock of wind and solar power in the last five years, driven less by sustainability concerns than by clean energy’s potential for cost-effectively meeting citizens’ pressing development needs. Taking into account India’s ongoing efforts to make its energy system more sustainable, there is scope to hope that India’s domestic performance will make it a leader on the global stage in the near future. India’s energy transition is already an inspiration for many emerging economies. A people-centric approach, backed by good policy design, will not only help India build a clean and inclusive energy future, but could also provide a model for other countries and communities worldwide.