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30 Oct 2021: PIB Summary & Analysis

TABLE OF CONTENTS

1. Italy-India Relations
2. Amendment to Energy Conservation Act, 2001

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1. Italy-India Relations

Context:

Italy-India Strategic Partnership in Energy Transition.

Background:

  • The Action Plan for an enhanced Partnership between India and Italy (2020 –2024) was adopted in November 2020.
  • PM Modi is on a visit to Italy to attend the G20 summit.

Details:

  • The two countries issued a Joint Statement on Italy-India Strategic Partnership in Energy Transition.
  • In order to promote their partnership in energy transition, Italy and India will:
    • The “Joint Working Group” established by both countries in 2017 will be tasked to explore cooperation in areas such as Smart Cities; mobility; smart-grids, electricity distribution and storage solutions; gas transportation and promoting natural gas as a bridge fuel; integrated waste management (“waste-to-wealth”); and green energies (green hydrogen; CNG & LNG; bio-methane; bio-refinery; second-generation bio-ethanol; castor oil; bio-oil –waste to fuel).
    • Initiate a dialogue to support the development and deployment of green hydrogen and related technologies in India.
    • Consider working together to support a large size green corridor project in India to capitalize on India’s target to produce and integrate 450 GW of renewable energy by 2030.
    • Encourage Italian and Indian companies to develop joint projects in the natural gas sector, technological innovation for decarbonisation, Smart Cities and other specific domains (i.e.: electrification of urban public transport).
    • Encourage joint investments of Indian and Italian companies in energy transition-related fields.
    • Share useful information and experiences especially in the field of policy and regulatory framework.

2. Amendment to Energy Conservation Act, 2001

Context:

The Power Ministry proposes amendments in the EC Act to boost renewable energy use.

Details:

  • The Ministry of Power has proposed amendments to the Energy Conservation Act, 2001.
  • The amendments are aimed at promoting the consumption of renewable energy.
  • They include a provision for specifying the minimum quantum of renewable energy in the overall consumption by establishments and industrial units.
  • The objective will be to enhance demand for renewable energy at the end-use sectors such as industry, buildings, transport, etc.
  • There will be provision to incentivise efforts on using clean energy sources by means of carbon saving certificates.
  • The proposal also includes expanding the scope of the Act to include larger Residential buildings, with an aim to promote Sustainable Habitat.

Benefits:

  • The proposed amendments would facilitate the development of a carbon market in India and prescribe minimum consumption of renewable energy either as direct consumption or indirect use through the grid. 
  • This will help in the reduction of fossil fuel-based energy consumption and carbon emission to the atmosphere.
  • This is expected to help India achieve its ambitious Nationally Determined Contributions (NDCs) of reducing emission intensity by 33-35 per cent in 2030 against the levels of 2005.
  • Furthermore, by adopting energy efficiency measures, India holds the potential to reduce about 550 MtCO2 by 2030. 
  • The proposed changes to the EC Act will boost the adoption of clean technologies in various sectors of the economy.
  • The provisions would facilitate the promotion of Green Hydrogen as an alternative to the existing fossil fuels used by the industries.
  • The additional incentives in the form of carbon credits against the deployment of clean technologies will result in private sector involvement in climate actions.

Read previous PIB here.

October 30th, 2021, PIB:- Download PDF Here

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