India On Track To Surpass 500GW Renewable Target By 2030: Govt Official
India is on track to surpass the 500 gigawatt (GW) renewable target by 2030, said Sudeep Jain, Additional Secretary, Union Ministry of New and Renewable Energy, while speaking at an industry event.
"We, as a nation, are on a remarkable path and we will definitely surpass it, said Jain, referring to the 500GW renewable energy target by 2030. While speaking at the curtain raiser of the PHDCCI conference, he said that India does have several challenges in the sector.
He added, "As individuals, we need to conserve energy; it is the best investment without any subsidy." He also apprised about the PM Surya Ghar program and emphasized the critical role of financing mechanisms in driving sustainable initiatives in the renewable energy sector.
He added that 2023 marked the hottest year yet, surpassing the crucial 1.5-degree celsius target that the global community strives to maintain. It's evident that unless we collectively recognise climate change as a paramount challenge, finding solutions and working towards mitigation will remain elusive.
India's ambitious goals underscore the urgency of addressing this pressing issue head-on, he added.
Amid the growing concerns about the climate change crisis, a study by global management consultancy Kearney has stated that a regenerative approach is essential to align sustainability ambition and action in India’s growing economy. The report revealed that about 52 per cent of the businesses have decarbonisation plans that are acutely aligned with the Paris Agreement.
Kearney's Asia Pacific study on sustainability and beyond added that the majority of Indian companies (92 per cent) believe that the targets of the Paris Agreement are attainable. While Asia-Pacific businesses are optimistic about achieving their decarbonisation targets, India is at the forefront of leading the region towards achieving net zero.
