ENA Economy 2024-09-12 15:28:02 <p><span style="font-size:14px"><strong>New Delhi, Sep 12 (KNN)</strong> NITI Aayog CEO B.V.R. Subrahmanyam addressed the complex relationship between India's economic growth and its climate commitments during a recent event.</span></p> <p><span style="font-size:14px">He emphasised that while India remains dedicated to climate-friendly growth, fossil fuels continue to play a significant role in driving the country's economic expansion.</span></p> <p><span style="font-size:14px">Subrahmanyam highlighted NITI Aayog's ongoing collaboration with states to develop a comprehensive roadmap for green energy transition. This initiative aims to chart a path towards achieving India's net-zero carbon emissions target.</span></p> <p><span style="font-size:14px">A detailed document outlining this strategy is expected to be released in November.</span></p> <p><span style="font-size:14px">The CEO stressed that market forces alone are insufficient to address the challenges posed by climate change.</span></p> <p><span style="font-size:14px">He noted that India is on track to meet its climate targets under the 2015 Paris Agreement, despite contributing less than 4 per cent to global carbon emissions.</span></p> <p><span style="font-size:14px">India has pledged to achieve net-zero emissions by 2070 and install 500 GW of non-fossil fuel-based electricity capacity by 2030, as part of its Nationally Determined Contributions (NDCs).</span></p> <p><span style="font-size:14px">Subrahmanyam also pointed out that the Indian government is committed to increasing climate finance, even though the country's per capita energy consumption remains at half the global average.</span></p> <p><span style="font-size:14px">He views climate change as an opportunity for India to emerge as a leader in green technology and sustainable growth models.</span></p> <p><span style="font-size:14px">However, the NITI Aayog chief acknowledged challenges at the state level, noting that many states lack expertise in generating green projects.</span></p> <p><span style="font-size:14px">This observation underscores the need for coordinated efforts between central and state governments to achieve India's climate goals while maintaining economic growth.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39249 https://knnindia.co.in/news/newsdetails/economy/india-balances-economic-growth-with-climate-commitments-niti-aayog-ceo 2024-09-12 15:28:02 knnindia.co.in