Renewable radiance: International Solar Alliance’s contribution to India's economic growth amidst escalating oil prices
It is said, "Great Leadership brings Great initiatives which create an impact better for all". INDIA, in its G20 presidency this year came up with many initiatives and answers to many challenges, but the main important initiatives in today's growing world were to protect the environment and set up plans and agendas to move ahead with the pace of Development, there has been a negative impact on the environment due to which certain Environmental issues has always been in the news. Issues like Global warming always raises up questions for the countries and their initiates to protect the environment. Global warming and other issues that haunt the environment are caused by the use of raw materials like Fossil Fuels, which have a negative effect on The air. In a world where There has been a significant push from Using fossil fuel to Electric Systems, countries have agreed to reduce the emission of greenhouse gasses by 43 Percent by 2030, after the initiative of the International Solar Alliance where all the 20 countries came together to provide a platform for cooperation among solar - rich countries to address their special energy needs.
The Global Biofuel alliance was launched in September and played a key role under India's leadership, where countries like Brazil, and the United States along with 18 others came together to take part in this alliance. Not only countries but 12 organizations including the World Economic Forum, the World Bank, and the Asian Development Bank came together. This resolution was a significant one and important one because the contribution of G20 nations in the total emission is nearly 80 percent.
The main aim of this alliance would also be to boost the supply and demand for biofuels and ensure that the countries use more Ecological paths to upgrade their economy and reduce their carbon footprints which are harmful to the environment when the countries are on the path of growth. With the Wars going around the world and oil. Prices crossing the hike, biofuels can be a method of making diesel or oils In an effective manner which will help the countries to come out of Paying high amount.
India, being a country that is developing at a faster pace and An economy that is set to become the richest, it will be great to see how India takes through the challenges on its path and ensures that There is an effective pace to achieve the goal as India will also be the country with self Reliant in the energy sector and is a leader growing with ecological mindset and sets a Standard.
Kautilya, IBS Mumbai.