INTRODUCTION: ACHIEVING ADEQUATE, AMBITIOUS CLIMATE FINANCE
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ALL OF US MUST REMEMBER – THE DECISIONS WE MAKE ÉÊÒÒÄÇÇ¿À¾Ä¿ÀÏÃÀÇÄÁÀÊÁ OUR FUTURE GENERATIONS.
work together. Particularly, I urge the global scientific community to come together to explore various aspects. Scientists and innovators can suggest changes in public policy to help the Green Hydrogen sector. There are also many questions that the scientific com- munity can look into. Can we improve the efficiency of electrolysers and other components in Green Hydrogen production? Can we explore the use of sea water and municipal wastewater for production? How can we enable the use of Green Hydrogen in public trans- port, shipping, and inland waterways? Exploring such topics together will greatly help green energy transition across the world ... Humanity has faced many challenges in the past. Each time, we overcame adversities through solutions that were collective and innovative. It [is] the same spirit of collective and innovative action that will guide us towards a sustainable future. We can achieve anything when we are together. Let us work to acceler- ate the development and deployment of Green Hydrogen. Video message for 2nd International Conference on Green Hydrogen, 11 September 2024 In 2015, the ISA [International Solar Alliance] began as a small sapling, it was a moment of hope and aspira- tion. Today it is growing into [a] giant tree inspiring policy and action. In such a short time, the Membership of ISA [has] reached a milestone of [a] hundred countries. Additionally, 19 more countries are ratifying the frame- work agreement for attaining full membership. The growth of this organi- zation is important for the vision of ‘One World, One Sun, One Grid.’ In the past few years, India has taken many massive strides in green energy. We were the first G20 Nation to achieve
the Paris commitments in renewable energy. The remarkable growth of solar energy is a key reason in making this possible. Our solar energy capacity has increased 32-fold in the last 10 years. This speed and scale will also help us achieve five hundred (500) gigawatt non-fossil capacity by 2030. India’s growth in the solar sector is the result of a clear approach. Whether in India or in the world, the mantra to increase solar adoption is aware- ness, availability and affordability. [We] increased awareness about the need [for] sustainable energy sources by encouraging domestic manufac- turing in the solar sector we increase availability. Through specific schemes and incentives, we also made the solar option affordable. ISA is an ideal platform for exchang- ing ideas and best practices for solar adoption. India has a lot to share as well. Let me give you an example [of] a recent policy intervention. A few months ago, we launched the PM Surya Ghar Muft Bijli Yojana. We are investing Rupees 750 billion in this scheme. Our target is to help 10 million households to install their own rooftop solar panels. We are trans- ferring financial assistance directly to the people’s bank accounts. Low inter- est, collateral free loans are also being enabled in case additional finance is needed. Now, these households are generating clean electricity for their needs. Moreover, they will also be able to sell excess power to the grid and earn money. Due to the incentives and poten- tial earnings, this scheme is becoming popular. Solar energy is being seen as an affordable and attractive option. I am sure many nations have similar valuable insights derived from their work on energy transition. In a short time, the ISA has made a lot of progress. In 44 countries, it has
India’s installed non-fossil fuel capacity increased nearly 300% in the last 10 years. Our solar energy capac- ity increased over 3,000% in the same period. 300 % 3000 %
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Financing a Just Transition
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