Sign In
Learn bits
Economy
Mahesh

16/05/22 09:48 AM IST

Fostering Effective Energy Transition 2022

In News
  • Fostering Effective Energy Transition 2022 report was recently released which called for urgent action by both public and private sectors to ensure resilient energy transition.
Findings of the report 
  • The report found that energy transition is not matching with the growing urgency for change. Energy affordability, energy security, and sustainability are becoming more important than ever. Thus, a comprehensive approach with a proper timeline is critical to achieving long-term climate goals.
  • Energy unaffordability is threatening the goal of fair and just transition. The governments should prioritize access to affordable energy for all. Energy equity can be ensured with the help of direct benefits transfer (DBT) and other support measures.
  • There is a lack of energy diversity.  To ensure energy security, there is a need for dual diversification i.e both supply source and supply mix should be diversified. For example, import-dependent countries must try to import energy from many countries and not overly depend on a few countries. Domestic energy can be diversified with low-carbon alternatives which make countries self-reliant and ensure energy security.
  • Regulatory frameworks need to be made robust to attract investments in clean energy and to ensure that commitments turn into legally binding frameworks that endure political cycles. This also ensures that projects are implemented on time.
Source-Indian Express 

More Related Current Affairs View All

18 Aug

Impact of Ethanol Blending

'E20 petrol, which contains 20% ethanol and is being sold by Indian oil refiners, has been much in the news lately. ' India has achieved its target to blend 20% ethanol per litr

Read More

18 Aug

Uttar Pradesh govt want to take over the 150-year old Krishna shrine

'The Banke Bihari Temple Trust Bill, 2025 was introduced in the Uttar Pradesh Assembly recently.' The Bill allows the formation of a board of government-appointed trustees, incl

Read More

18 Aug

Uttarakhand’s Bill against forced religious conversion

'The Uttarakhand Cabinet approved making the legal provisions against forced religious conversion more stringent in the state, including by raising the duration of jail sentences a

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps