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What is the News?
NITI Aayog and World Resources Institute(WRI), India has conducted a virtual consultation workshop on ‘Financing for Decarbonization of Transport’.
What was the purpose of the workshop?
Aim: To identify actionable strategies and bring together financing institutions and transport organizations to collectively work towards furthering innovative financing policies for the decarbonization of transport.
The workshop was conducted as part of the NDC-Transport Initiative for Asia (NDC-TIA) project.
Why does India need to decarbonize the Indian Transport Sector?
The transport sector is the third-most greenhouse-gas-emitting sector in India. It accounts for 14% of our energy-related CO2 emissions. It is also the most rapidly growing sector in the country.
Hence, India needs to move towards a low carbon future that would necessarily include accelerated decarbonizing of the transport sector.
But for this, India need: a) Green Financing to provide a further impetus to clean mobility in India, b) Promote shared mobility by leveraging private sector investments and unlocking financing for e-buses, c) Improve liveability and productivity by improving connectivity and d) Bring down the cost of logistics.
Source: This post is based on the article “Green Financing Critical to Decarbonizing the Indian Transport Sector” published in PIB on 23rd February 2022.
