Parliament approves Energy Conservation amendment bill

14 Dec 2022 CW Team

The Parliament approved a bill requiring the use of non-fossil fuels such biomass, ethanol, and green hydrogen as well as allowing the exchange of carbon credits throughout the nation.

The Rajya Sabha approved the Energy Conservation (Amendment) Bill, 2022 with a voice vote. The Act was approved by the Lok Sabha during its previous session in August of this year.

The bill imposes fines on manufacturers if a vehicle does not adhere to fuel consumption standards as well as penalties for infractions by industrial units or vessels.

The modifications also aim to encourage the use of renewable energy sources and the creation of a local carbon market.

The bill aims to assist the nation in meeting its climate change-related international responsibilities.

In order to enable a quicker decarbonisation of the Indian economy and support the achievement of sustainable development goals in line with the Paris Agreement, it wants to bring novel ideas such as carbon trading and mandate the use of non-fossil sources.

R K Singh, the Minister for New and Renewable Energy, stated in response to a discussion on the bill that it is environmentally friendly and will enable carbon trading in the nation.

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