Declaration of private sector on Climate Change is a historic step
Environment, Forest and Climate Change Minister Prakash Javadekar has said that India is on the way forward towards achieving its commitments done at the Paris agreement and the country is acting on its Nationally Determined Contributions(NDC’s).
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Key-Points
CEOs of companies like Reliance Industries Ltd, Tech Mahindra, Dalmia Cement, Ambuja Cement, Dr Reddy’s, Sun Pharma and Adani Transmission etc. held a virtual discussion with Union Environment Minister at the India CEO Forum on Climate Change.
Following the discussion, they issued a ‘Declaration of Private Sector on Climate Change’, pledging to take necessary action to help India achieve its targets under the Paris Agreement.
The companies stated they aim to go beyond promotion of renewable energy, enhanced energy and material efficiency, improved processes and technologies, water efficiency processes, planned afforestation, waste management and recycling, etc.
India is party to the United Nations Framework Convention on Climate Change (UNFCCC).
India has ratified the Paris Agreement. India submitted its ambitious nationally determined contributions (NDCs) in 2015 under the Paris Agreement for the post-2020 period with three quantitative goals.
The goals are
- Reduction in emissions’ intensity of GDP by 33-35 per cent by 2030 from the 2005 level,
- Achieving about 40 per cent cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030, and
- Creating an additional carbon sink of 2.5-3 billion tonnes of carbon dioxide equivalent through additional forest and tree cover by 2030.