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India spearheading one of world's most ambitious clean energy transitions: Eco Survey
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IANS | 31 Jan, 2023
India is spearheading one of the worlds most ambitious clean energy
transitions and remains steadfast in its commitment to combat climate
change, according to the Economic Survey for 2022-23, which was
presented in the Parliament on Tuesday.
Despite the
adverse impacts of Covid-19 on the economy, India has enhanced its
climate ambition manifold and embarked on a long-term strategy towards a
Low GHG Emission Development Strategy by adopting a multi-pronged
approach.
The energy transition plan is complemented by numerous
policies intended to improve the ecosystem to deploy promising
technological innovations, like green hydrogen.
The country has
consistently modified/amended regulatory standards and adopted
policy-level interventions to support the development and adoption of
new technology.
India's progress on energy transition may be
understood from the fact that it has enhanced its non-fossil fuel based
installed capacity target to 50 per cent in its updated Nationally
Determined Contribution (NDC) as the target of 40 per cent of the first
NDC was achieved well in advance.
The sustainable finance
framework has also evolved from the initial steps covering the top
listed 100 companies required to conform to sustainability standards.
The requirement has now not only been extended to 1,000 top listed
companies on a mandatory basis, but also the sustainability standards
have become much stronger and measurable that correspond to the best
practices while taking into account the specific context of India, the
Economic Survey said.
Climate change is primarily attributed to
disproportionately high cumulative emissions, both historical and high
per capita annual emissions of greenhouse gases (GHGs) of the developed
countries. The global nature of the problem makes India one of the most
vulnerable regions despite having contributed only about 4 per cent to
the cumulative global emissions (for the period 1850-2019) and
maintaining its per capita emission at far less than the world average,
the Survey said.
While India is less responsible for the high
stock of emissions, it, however, has consistently engaged in
demonstrating global leadership towards adopting various measures and
ensuring a low-emission growth pathway with a commitment to the net-zero
emissions goal by 2070.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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