Government Introduces Updated Version of Energy Conservation Bill
The Energy Conservation (Amendment) Bill, 2022 has been introduced in Lok Sabha recently which is aiming to act as a facilitator to achieve India’s climate change commitments.
August 04, 2022. By News Bureau
The key proposals of this amendment includes: obligation to use non-fossil sources of energy including Green Hydrogen, Green Ammonia, Biomass and Ethanol for energy and feedstock, carbon trading, Energy conservation code for buildings, composition of the governing council of BEE, regulatory powers of SERC’s.
This amendment will help to achieve Prime Minister’s ‘Panchamrit’ commitment towards low-carbon development strategy made at the 2021 United Nations Climate Change Conference (COP26) summit.
Panchamrit is inclusive of raising the non-fossil fuel-based energy capacity of the country to 500 GW by 2030, usage of renewable energy sources to meet 50% of the country’s energy requirements by 2030, reducing the carbon intensity of the economy to less than 45% and to make the country carbon neutral and achieve net zero emissions by the year 2070.
This amendment will also help in achieving sustainable development goals in line with the Paris agreement.
According to a report of Mint, Prime Minister Narendra Modi may launch a national carbon trading platform on the occasion of Independence Day as India presses ahead with its climate commitments.
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