By TIOL News Service

NEW DELHI, SEP 19, 2024: UNION Minister for Environment, Forest and Climate Change, Bhupender Yadav addressed the Plenary Session on India's Pathway to Net-Zero Emissions in Re-Invest Summit 2024 at Mahatma Mandir Gandhinagar, Gujarat yesterday in the presence of Union Minister for New and Renewal Energy Pralhad Joshi. Three-day Summit was inaugurated by Prime Minister, Narendra Modi on September 16 at Mahatma Mandir, Gandhinagar in Gujarat.

Addressing the summit, Bhupender Yadav said, "the path of Sustainability has to be chosen for conservation of ecosystem, biodiversity, development of society and for best utilization of human resources. To ensure sustainability, a proper technological and management system has to be created for the world through policy, technological intervention and capacity building". Countries should develop action plans that prioritize equity, ensuring that health, justice, and prosperity are available to everyone. This approach will promote social equity and facilitate inclusive, sustainable economic growth while safeguarding natural resources for future generations, he further added.

Union Minister Yadav highlighted that India represents 17% of the world's population but only accounts for 5% of global emissions. In comparison, 17% of the population in developed countries contributes to 60% of emissions. India's per capita consumption remains low and the energy needs of developing countries must be considered. India has made significant progress in reducing carbon emissions, despite facing challenges such as its diverse geography, he further said.

Bhupender Yadav stated that under Prime Minister Narendra Modi's leadership, India is the only G20 country to have achieved two out of three quantitative Nationally Determined Contributions (NDCs) targets of the Paris Agreement nine years ahead of schedule. India has taken climate action for development growth and to achieve human development outcomes.

He said that the Ideas for life under the Mission LiFE of the ministry have been identified in the first 100 days of the government namely, Save Water, Save Energy, Reduce Waste, Reduce E-Waste, Say No to Single-Use Plastics, Adopt Sustainable Food Systems, and Adopt Healthy Lifestyles.

Union Minister said that Private sector engagement would hold the key for achieving the Net Zero ambition by 2070 by strengthening renewable grids, developing low carbon technology, and managing demand side issues. There is a need for rational utilization of fossil fuel resources with due diligence and development of integrated efficient & inclusive low carbon transport systems, and sustainable urbanization, keeping in view inclusive, economic, and ecological aspects.

Union Minister said that the government has initiated more bio-based policy interventions and is also working on fuel switching, recycling, circular economy, and promotion of green hydrogen technology, along with empowering the MSME sector. India is working on international cooperation to empower the global south and assessment of financial requirements with new quantifiable goals being the focus areas at COP29. He mentioned that for capacity building, climate finance must be defined accordingly. The Ministry of Energy has put forth the idea of a carbon market and initiated the Green Climate fund to build capacity. He further said that the economic viability of capacity building and technology transfer holds the key to developing renewable energy markets.

The Summit was attended by the former Secretary of MoEFCC and Chairman & Managing Director of Solar Energy Corporation of India, R P Gupta, Officer on Special Duty of Government of India, P K Singh, Stakeholders, Subject Experts and dignitaries.