India Achieves Climate Goals Ahead of Schedule

21 Aug 2024 CW Team

India has become the only G20 nation to fulfill its climate commitments from the 2015 Paris Climate Change Summit ahead of schedule, Prime Minister Narendra Modi announced on the 78th Independence Day. Speaking to the nation, PM Modi reaffirmed India's dedication to a green future, setting an ambitious goal of achieving 500 GW of clean energy by 2030.

The Paris Agreement, a legally binding international treaty on climate change adopted by 196 nations and organizations, set the framework for global efforts to combat climate change. PM Modi proudly noted that India has not only met but surpassed its initial climate targets.

In December of last year, the Indian government confirmed that it had fulfilled its first two Nationally Determined Contributions (NDCs). These include reducing the emissions intensity of its GDP by 33-35% from 2005 levels and achieving about 40% cumulative electric power installed capacity from non-fossil fuel-based energy sources by 2030.

Building on this success, India has now updated its targets, aiming to cut emissions intensity by 45% and increase the share of non-fossil fuel-based energy to 50% by 2030.

Currently, India's installed solar photovoltaic (PV) power capacity stands at 85.47 gigawatts (GW), and wind power at 46.65 GW. The government has implemented several initiatives to promote renewable energy development, including permitting 100% Foreign Direct Investment (FDI) under the automatic route in greenfield projects.

As the country strives towards its goal of 500 GW of installed electric capacity from non-fossil sources by 2030, India's commitment to renewable energy remains strong, positioning it as a global leader in the fight against climate change.

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