New global renewable energy programme to test partnership and solutions for renewables’ deployment in IndiaWe Mean Business
The World Business Council for Sustainable Development (WBCSD) today launched a new renewable energy program in India as part of its Low Carbon Technology Partnerships initiative (LCTPi), which aims to develop business solutions to scale up the deployment of renewable energy.
The program was launched at the Action 2020 Climate Dialogue in New Delhi, which saw over 100 Indian companies sharing their low carbon actions in fields such as agriculture, renewable energy, cement and buildings. The aim of the LCTPi series of roundtables and dialogues, which kick-started in Lima as part of the Lima-Paris Action Agenda, is to create a roadmap for business actions, including suggestions about policies and finance mechanisms that will be proposed to negotiators in Paris this December during COP21.
Among the world’s leading companies that attended the event, Welspun Renewables, Statkraft and Iberdrola joined the working group designed to craft action plans and policy recommendations for the development of renewable solutions in areas like India.
Vineet Mittal, Vice Chairman of Welspun Renewables, one of India’s largest renewable companies, commented: “India has a massive development agenda that requires sustainable solutions, and renewable energy is the only way to go. With Prime Minister Narendra Mody announcing the 175 GW capacity target, renewable energy has become a primary source.
“The idea is not just to achieve the 175 GW goal but to ensure that India’s dependence on fossil fuels is decreased. For instance, as an IPP by commissioning out utility scale solar and wind projects we have cumulatively mitigated 1,158,462 tons of carbon emissions. This is an example of one player in the sector – given the rapid scale of development you can imagine the massive mitigation numbers India will be achieving year-on-year.”
Companies had the chance to show the business case for the low-carbon economy through their actions and initiatives, and they made a clear call for India to lead on the development of renewable energy.
See who took on to the stage