New Delhi- India Cellular and Electronics Association (ICEA) and Carbon Markets Association of India (CMAI) have signed a memorandum of understanding towards developing sustainable climate change and environmental solutions for the electronics industry. This will generate awareness and solutions for greenhouse mitigation and adoption of green infrastructure and processes for the electronics industry.
India has set an ambitious target of meeting its climate targets at the Conference of Parties (COP26). According to its Nationally Determined Contribution, India aims to reduce total projected carbon emissions by 1 billion tonnes by 2030. Further, reducing the emissions intensity of its GDP by 45% from 2005 levels by 2030. Additionally, achieve approximately 50% of its cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030. India aims to become net zero by 2070.
Energy Conservation (Amendment) Act:
Towards this, the Energy Conservation (Amendment) Act, 2022 was recently notified by the Government of India. It amended the Energy Conservation Act, 2001, regulating energy consumption and promoting energy efficiency and conservation. It also proposes a carbon credit trading scheme through carbon credits. These credits are given to an entity that reduces carbon emissions or participates in carbon offset programs. One carbon credit corresponds to one tonne of carbon emissions. Carbon offset programs generally include activities that mitigate carbon emissions such as forest afforestation, energy efficiency, etc.
In the Union Budget 2023-24, the Hon’ble Finance Minister also laid out a structured plan for green growth. The announcement was with a special focus on fuel, energy, farming, mobility, equipment, and buildings, and policies for efficient use of energy across various economic sectors.
“India has a considerable opportunity to build sustainable climate and environmental solutions underlying green infrastructure given the growing electronics manufacturing industry. The increasing energy demand, large renewable energy potential, support from the Government and awareness about climate change is further catalysing green growth. ICEA is strongly committed to India’s NDC to UNFCCC.” said Pankaj Mohindroo, Chairman, ICEA.
“The Carbon Markets Association of India will share knowledge and guidance on developing sustainable solutions for the electronics industry towards climate change.”, said Manish Dabkara, President, Carbon Markets Association of India.
