India plays important role in adoption of Paris Agreement and Launch of International Solar Alliance

Economic Survey 2015-16 tabled in Parliament here today by the Union Finance Minister Shri Arun Jaitley states that the year 2015 has been a landmark year for India in terms of climate change initiatives both nationally and internationally. At the International level, India played a crucial role in the climate change talks and agreement under United Nations Framework Convention on Climate (UNFCCC) in Paris in December 2015, and the launch of International Solar Alliance. India also submitted its ambitious Intended Nationally Determined Contributions (INDC) to the UNFCCC on 2nd October 2015. The Economic Survey which was tabled today in the Parliament by the Union Finance Minister Shri Arun Jaitley has listed down, along with these achievements, the various other contributions and initiatives taken by India in dealing with climate change and promoting sustainable development.

Economic Survey 2015-16 further states that India has played an important role in the 21st Conference of Parties (COP 21) under the UNFCCC and adoption of the Paris Agreement in December 2015. The Paris Agreement sets a roadmap for all nations in the world to take actions against climate change in the post-2020 period. Also, Prime Minister Shri Narendra Modi played a leading role at COP 21 in the launch of the International Solar Alliance (ISA), and also volunteered to host its Secretariat. ISA will provide a special platform for mutual cooperation among 121 solar-resource-rich countries in the world.

Economic Survey highlights that as on 4 January 2016, with 1593 out of 7685 projects registered under Clean Development Mechanism (CDM) of UNFCCC, India has the second highest number of projects registered under CDM which further shows its commitment to fighting climate change.

Economic Survey notes that in the domestic front, India has continued to take ambitious targets in its actions against climate change. As a part of its contributions to global climate change mitigation efforts, India announced its Intended Nationally Determined Contributions (INDC) which including other efforts has set itself an ambitious target of reducing its emissions intensity of its GDP by 33-35 percent by 2030, compared to 2005 levels, and of achieving 40 percent cumulative electric installed capacity from non-fossil fuel-based energy resources by 2030.

Apart from the National Action on Climate Change (NAPCC), a new mission on Climate Change and Health is currently under formulation and a National Expert Group on Climate Change and Health has been constituted. The Economic Survey also talks about the National Mission on Coastal Areas (NMCA) for integrated coastal resource management and the proposed waste-to energy mission which are the other major components of India’s domestic actions against climate change.

Economic Survey also talks about the National Adaptation Fund for Climate Change (NAFCC) which has been established with a budget provision of ₹ 350 crore for the year 2015-16 and 2016-17, and the National Clean Energy Fund (NCEF) which is supported by the cess on coal. The Survey notes that India is one of the few countries around the world to have a carbon tax in the form of a cess on coal.

Economic Survey 2015-16 further points out the progress on the renewable energy front in India by highlighting the ambitious targets of achieving 40 percent cumulative electric capacity from non-fossil fuel-based energy resources by 2030. Underlining India’s commitment to clean energy the first Renewable Energy Global Investment Meet and Expo (RE-INVEST) was organized in Feb 2015 to provide a platform for the global investment community to connect with stakeholders in India.

Another ambitious program of the government is the Development of Solar cities Program under which 56 solar cities projects have been approved. The Economic Survey further lists the National Offshore Wind Energy Policy 2015 to help in offshore wind energy development, as yet another major renewable energy policy.

Climate commitments: India advances clean energy targets and implements a coal cess as a domestic carbon measure. The Economic Survey highlights India's international engagement via the Paris Agreement and the International Solar Alliance and records submission of its Intended Nationally Determined Contributions, committing to reduce emissions intensity and raise non fossil electricity capacity. Domestically, it outlines renewable energy policies and missions, and identifies financing instruments including the National Adaptation Fund and the National Clean Energy Fund supported by a cess on coal as a domestic carbon levy.