India has delivered and is well on track to achieve its voluntary pledge of reducing emission intensity of its GDP by 20-25 per cent by 2020 over 2005 level, the economic survey said.
“India has delivered on its commitments and is well on track to achieve its voluntary pledge of reducing the emissions intensity of its GDP by 20-25 per cent over 2005 levels by 2020. India has ratified the Paris Agreement and is committed to its NDC (nationally determined contribution) implementation,” said the survey tabled in the Parliament today.
It said that India is constructively engaged at the multilateral level in writing the Paris rule book for the implementation of Paris Agreement.
At the national level, it said that the roadmap for implementation of its NDCs is being prepared by the Committees constituted for the purpose.
It pointed out that the multilateral climate regime will do well if financial resources are provided to assist developing countries to facilitate the pathway towards low GHG (greehhouse gas) emissions and climate resilient development.
It stated that India underscores the importance of an increase in the volume, flow and access to finance alongside improved capacity and technology for developing countries.
Projections made by Central Electricity Authority (2016) indicates that the capacity addition in coal-based power plants is expected to be around 50 GW between 2017 and 2022.
Further, according to these projections, no more addition in the installed capacity of coal-based power generation would be required in the period 2022 to 2027.
As a result, the share of renewables in total installed capacity in this scenario is likely to increase to around 43 per cent in 2027, the survey noted.
It said that the investments in renewable energy is crucial for India to meet its climate change goals, and such investments be made at a calibrated pace looking into the total cost accrued to the society.
It also said that given that the first goal for India is to provide 100 per cent energy access to its population and bridge the ‘development deficit gap’, all cleaner energy sources need to be tapped.