Union Minister of Environment, Forest and Climate Change, Bhupender Yadav addressed the Ministerial Session on ‘Adapting to an Uncertain Future: Reshaping of Global Partnerships’ at India Energy Week in Bengaluru. Her Excellency Magna Mudyiwa, Deputy Minister of Energy and Power Development, Zimbabwe was also present.
Speaking on this occasion Bhupender Yadav said that India has emerged as one of the global forerunners with the ability to show concrete and collective resolve to ensure harmony and energy security in the world at a time when global energy supply chains are in troublesome state, a crisis of essentials is present all over the world.
He also said that to reshape the global partnership, India has adopted a “whole-of-society” approach with governments engaging at national, sub-national and local governments levels, including the private sector, civil society organizations, local communities, and people in vulnerable situations.
Yadav said that today, India is one of the fastest growing emerging market economies with a young population and burgeoning innovation and business ecosystem. With Nominal GDP for 2023/24, estimated to grow 10.5% year-on-year to 301.75 trillion rupees (USD 3.69 trillion) in 2023/24, India strives to become a USD 5 trillion economy by 2025.
Noting that India is at the centre of the energy transition, combining economic and energy demand growth with rapid decarbonisation, Yadav said that India stands committed to reduce emissions intensity of our GDP by 45% by 2030 and subsequently reach to net-zero by 2070.
In this context he also said that India’s commitment to the sustainable and carbon neutral future is being guided by its enhanced National Determined Contribution (NDC) and Long-Term Low Carbon Development Strategy which call for clean and efficient energy systems, disaster resilient infrastructure, and planned eco-restoration.
India’s net zero goal entails a five-decade long journey and India’s strategy must therefore be evolutionary and flexible, accommodating new developments in technology, the global economy and international cooperation, he said.
