• UGI USER
  • Dec 09, 2023
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CLIMATE DRAFT CALLS FOR TRIPLING RENEWABLE ENERGY CAPACITY

Why in the News?

  • The latest draft at the UN’s climate summit proposes a significant shift toward renewable energy.
Source: Statista

Key Highlights of the Draft:

  • The Global Stocktake suggests tripling renewable energy capacity globally by 2030 as an option.
  • Emphasis on strategically implementing the increase to replace fossil fuel-based energy and reduce reliance on non-renewable sources.

Controversial Clause and India’s Stance:

  • The draft faces controversy as it includes conditions for the phase-out of fossil fuels along with the renewable energy proposal.
  • India expresses reluctance, citing the clause as “prescriptive” and stating that it won’t support such conditions.
  • The draft removes the clause for a “just and orderly phase-out of fossil fuel,” replacing it with options to phase out fossil fuels to limit global temperature rise.

India’s Response:

  • Climate Financing: India shifts focus to the critical issue of climate finance during negotiations.
  • Lack of clear Definition: Calls attention to the lack of a clear definition and transparency in climate finance, hindering trust.
  • Emphasizes the need to define climate finance, linking it to the clean energy transition, technology access, and meeting commitments under the Paris Agreement.

The draft envisions a global transition to renewable energy, faces resistance from India due to perceived unacceptable conditions, and emphasizes the necessity of defining climate finance for a transparent and effective climate action plan.