Roadmap for Answer Writing 1. Introduction Define green financing and its significance. Fact: India needs $10 trillion to achieve net-zero emissions by 2070 (International Financial Services Centres Authority). Mention India’s climate goals and global commitments (e.g., COP26 net-zero pledge). 2. Strategies to Improve Access to ...
Model Answer Introduction Access to affordable, reliable, sustainable, and modern energy is essential for achieving the Sustainable Development Goals (SDGs). Energy serves as a critical resource for economic growth, social equity, and environmental sustainability. Without it being affordable and accRead more
Model Answer
Introduction
Access to affordable, reliable, sustainable, and modern energy is essential for achieving the Sustainable Development Goals (SDGs). Energy serves as a critical resource for economic growth, social equity, and environmental sustainability. Without it being affordable and accessible, the goal of sustainable development remains elusive. SDG 7 specifically commits to ensuring clean energy for all.
India’s Progress in Sustainable Energy Access
Accessible Energy
India has made significant strides in improving energy access through various initiatives. Programs like the Pradhan Mantri Ujjwala Yojana and the Direct Benefit Transfer (DBT) for kerosene under the Public Distribution System (PDS) have provided better energy sources, reducing reliance on harmful fuels like firewood and kerosene.
Affordable Energy
The affordability of energy is crucial for the economically disadvantaged. The “Saubhagya” scheme has achieved nearly 100% household electrification, significantly enhancing access to affordable and reliable energy. Additionally, subsidized electricity rates for low-income households and the PAHAL LPG subsidy have encouraged families to transition from firewood to cleaner cooking fuels.
Sustainable Access
India has set ambitious renewable energy targets, aiming for 450 GW of renewable capacity by 2030. This commitment has led to substantial growth in solar and wind energy, with renewable energy rates now competitive with fossil fuels. As of 2022, renewable sources contributed significantly to the energy mix, with a notable increase in installed capacity.
Modern Energy
Innovative initiatives such as the Hydrogen Mission and the e-Vehicle plan are paving the way for modern energy solutions. These efforts aim to enhance the sustainability and reliability of energy sources while promoting technological advancements in the energy sector.
Conclusion
Progress on SDG 7 is vital for achieving the broader 2030 Agenda. Ensuring universal access to energy, improving energy efficiency, and increasing the use of renewable energy are foundational steps toward eradicating poverty and fostering climate action. Without these advancements, the goal of a sustainable world remains unattainable.
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Model Answer India’s commitment to achieving net-zero emissions by 2070, announced at COP 26, necessitates a $10 trillion investment, according to the International Financial Services Centres Authority. Below are strategies India can adopt to enhance access to green finance and achieve its climate aRead more
Model Answer
India’s commitment to achieving net-zero emissions by 2070, announced at COP 26, necessitates a $10 trillion investment, according to the International Financial Services Centres Authority. Below are strategies India can adopt to enhance access to green finance and achieve its climate and sustainable development goals:
1. Develop a Conducive Policy and Regulatory Environment
2. Introduce Formal Carbon Pricing Frameworks
3. Mobilize Domestic and International Capital
4. Expand Green Finance Through Banks
5. Advocate at International Forums
Conclusion
To make green financing a cornerstone of Mission 2070, India must implement a holistic policy framework and foster strong domestic and international financial collaboration. Initiatives like carbon pricing, innovative financial instruments, and advocacy on global platforms will be pivotal in ensuring a sustainable and climate-resilient future.
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