Decarbonization and Energy Transition Agenda
#GS3 #Environment #Energy #Pollution
NITI Aayog and Embassy of the Netherlands, New Delhi, signed a Statement of Intent (SoI) on 28 September 2020 to support the decarbonization and energy transition agenda for accommodating cleaner and more energy.
- Through this collaboration, NITI Aayog and the Dutch Embassy seek a strategic partnership to create a platform that enables a comprehensive collaboration among stakeholders and influencers, including policymakers, industry bodies, OEMs, private enterprises, and sector experts.
- The focus of the partnership is on co-creating innovative technological solutions by leveraging the expertise of the two entities.
- This will be achieved through an exchange of knowledge and collaborative activities. Key elements include
i) lowering the net carbon footprint in industrial and transport sectors
ii) realise the target potential of natural gas and promote bio-energy technologies
iii) adopt clean air technologies from monitoring to reducing actual particulates
iv) adopt next-generation technologies, such as hydrogen, carbon capture utilization, and storage for sectoral energy efficiency
v) financial frameworks to deliver and adopt climate change finance.
- The Netherlands and India share a long history of trade and investment. It is India’s sixth largest EU trading partner—as much as 20% of India’s exports to the European continent goes through the Netherlands, making it India’s ‘gateway to Europe’—and one of the top five investors in the country. It is also the third largest source of Foreign Direct Investment for India.
- The Netherlands is keen to intensify its business relations with India to emerge as the country’s hub for doing business with Europe.
- Both the countries complement each other and by working together can combine forces to find new solutions to shape the future and tackle societal challenges, especially in the energy and climate sectors.