Report: India, the world’s third largest emitter of greenhouse gases behind China and the United States, has set itself the goal of achieving carbon neutrality by 2070

Report: India, the world’s third largest emitter of greenhouse gases behind China and the United States, has set itself the goal of achieving carbon neutrality by 2070
Report: India, the world’s third largest emitter of greenhouse gases behind China and the United States, has set itself the goal of achieving carbon neutrality by 2070

HIBAPRESS-RABAT-CEEW

According to a report by the Council on Energy, Environment and Water (CEEW), an Indian public policy research institute, renewable energy (RE) sources accounted for 71% of the approximately 26 GW (Gigawatt) of power generation capacity added by India in the 2023-2024 financial year, ending March 31, as total installed energy capacity now stands at 442 GW, with renewables accounting for approximately 33% (144 GW) and hydroelectricity 11% (47 GW).

The share of coal in the total installed capacity of India, classified as the 3rd largest energy consumer in the world, thus fell below 50% for the first time.

In detail, the report specifies that solar energy comes first among renewable energies on the subcontinent, with 81% (15 GW) during the 2024 financial year.

For its part, wind capacity almost doubled to 3.3 GW from 2.3 GW in FY 2023, while 1.4 GW of nuclear capacity was added for the first time since the 2017 financial year.

Regarding green financing, the report reveals that foreign direct investment (FDI) flows into unconventional energy exceeded $2 billion for the second year in a row.

India, the third largest emitter of greenhouse gases in the world behind China and the United States, has set itself the goal of achieving carbon neutrality in 2070.

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