Solar alliance biggest win since Paris accord, says PM

Solar alliance biggest win since Paris accord, says PM

Context:

Recently at the inaugural session of the World Sustainable Development Summit, PM Modi has said that the biggest development on tackling climate change since the Paris Accord of 2015 has been the International Solar Alliance.

About International Solar Alliance (ISA)

• The ISA was launched on November 30, 2015 in Paris, on the sidelines of COP-21, the UN climate conference
• The ISA aims to mobilise more than $1,000 billion in investments by 2030 for “massive deployment” of solar energy.
• It further aims to pave the way for future technologies adapted to the needs of moving to a fossil-free future and keep global temperatures from rising above 2°C by the end of the century.
• It is the first treaty-based international intergovernmental organisation to be based out of India.
• It has 121 member countries

India’s Target:

• India has committed itself to having 175,000 MW of renewed energy in the grid by 2022.
• As part of the agreement, India will contribute $27 million to the ISA for creating corpus, building infrastructure and recurring expenditure over five years from 2016-17 to 2020-21.