EU Environmental Ministers commit to Net Zero Emissions Target by 2050: Key Facts

European Union Environment Ministers signed an agreement in Luxembourg on 23^rd October 2020. The deal has created EU’s 2050 net-zero emissions target legally binding on the states.

What is the new deal?

• It objective is to help the block to achieve its target of reaching net-zero emissions by 2050.
• The 2050 net-zero emission targets involves the whole EU. It provides that if one country creates higher emissions other will have to chop the emissions.

How the new target is to be achieved?

In order to achieve the net-zero emission goal, attempt from all parts of the public and economic sectors namely, power sector, industry, mobility, agriculture, buildings and forestry becomes necessary and important. The EU can attain the target in following manner:

• By funding money into practical technological solutions
• By empowering the native
• By line up action in key areas including industrial policy, finance and research

What are the Intended NDC (INDC) of India?

• To decrease the emissions potency of the GDP by about a third.
• A total of forty percent of the installed size for electricity will be from non-fossil fuel sources.
• India also assure an extra carbon sink (a means to suck up carbon dioxide from the atmosphere) of 2.5 to 3 billion tonnes of carbon dioxide equal through extra forest and tree cover by 2030.

What is NDC-Transport Initiative for Asia?

It is a regional initiative creativity that aims to encourage a complete approach to decarbonize transport in India, China and Vietnam. In each of the partner countries, the NDC-TIA help in making their sectoral contributions to the attainment of the NDCs of the Paris Agreement. The NDC-TIA programme has a time span of four years.

Who launched it?

The NITI Aayog started the “India Component” of the Nationally Determined Contributions (NDC)–Transport drive for Asia (TIA).

What is the focus of the initiative?

The NDC–TIA India scheme will focus on:

• Buildup GreenHouse Gas (GHG) and transfer modelling capacities.
• Give technical help on GHG emission reduction measures.
• Financing climate measures in transport.
• Offering policy Guidance on electric vehicle (EV) command and supply policies etc.

How does the transport sector of India contribute to Green House Gas Emissions?

India contains the world’s second-largest road network. It provides maximum Greenhouse Gas (GHG) emissions althrough means of transportation. With increasing housing development, the number of sales of vehicles is expanding rapidly. It estimates the total number of vehicles will be doubled by 2030. Thus, the transformation to a decarbonisation path for the transport sector in India is essential to attain the targets of the Paris Climate Agreement for 2050.

Month: Current Affairs - October, 2020