Key highlights of Economic Survey 2023-2024 on Climate Change and Energy Transition:
The following topic has been mentioned in Economic Survey 2023-2024:
- Mission Life
- Sovereign Green Bonds
- Energy Needs
- International Solar Alliance
- Installed Solar Capacity
- Non-fossil Sources Share
Mission Life:
- It is a mass movement to address climate change.
- Launched by PM Modi on October 20, 2022.
- It promotes an eco-friendly lifestyle that benefits both personal and the environment.
- Mass Movement theme:
- Reduce Waster
- Save energy
- Reduce E-waste
- Save water
- No single-use plastic
- Healthy lifestyle
Sovereign Green Bonds:
- About 36000 crores of Sovereign Green bonds were issued by RBI in 2023 ( January to December).
- It is issued for environment-friendly initiatives to achieve net zero emissions by 2070.
- Electric vehicles, solar parks, and wind parks are focus areas.
Energy Needs:
- Energy consumption for the financial year 2023-24 was about 1503.65 billion units.
- It will rise to 2 to 2.5 times from the present rate by 2047.
- PM Surya Ghar Muft Bijli Yojna
- National Green Hydrogen Mission
International Solar Alliance:
- At present 114 members and signatories. All members of the United Nations can join.
- The joint effort by India and France
- It was established in Paris on the sideline of the Paris ( 2025) Conference of Parties ( COP21).
- Head Quarter: Gurugram, India
- Project: One Sun One World One Grid
- Target 1 trillion dollar investment by 2030.
Installed Solar Capacity:
- 82.64 GW as of 30 April 2024.
- 30 GW of solar capacity through rooftop solar project.
Non-fossil Sources Share:
- Energy share 45.4 %
- Solar, Wind, Hydel, Biogas, Green Hydrogen
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