Decarbonisation of transport

✅ In order to promote the idea of ‘Financing for Decarbonisation of Transport’, a consultation workshop was organised virtually by the NITI Aayog in collaboration with World Resource Institute, India, backed by GIZ India, partner of India for sustainable economic, ecological and social development. This is a part of the NDC (Nationally Determined Contributions) – Transport Initiative for Asia (NDC-TIA) project.  

♻️ The objective : 

✅ The workshop commenced with a major objective of facilitating clean mobility in the country and generating more financial instruments to do so. 

✅ The incorporation of green finance in the transport industry will enable a low interest cost financing of Electric Vehicles. 

♻️ Elements of the discussion:

✅ The requirement of a robust roadmap for the electrification of transport has been addressed with much attention.

✅ The avenues for mobilisation of capital to fund the decarbonisation process by involving multi-stakeholder collaborations formed a major part of the discussion. 

✅ This initiative of the NDC-TIA has brought together a wide spectrum of participants to exchange information on various themes. 

♻️ Significance:

✅ The initiative of financing the decarbonisation of transport will be a sustainable climate-centric approach that will not only benefit the environment but also be of advantage from a financial perspective. 

✅ It is in alignment with India’s active participation in mitigating climate change and the ambitious targets set at COP26. 

✅ Decarbonisation is an emerging concept of green mobility that ensures to reduce the carbon footprint that results from vehicular emissions. 

✅ The transport industry constitutes the third largest contributor of greenhouse gas emissions in India and accounts for 14% of the CO2 emissions. 

✅ Therefore, it is a matter of essence to decarbonise the transport sector with active involvement of the stakeholders and strategic investments boosting a speedy transition to 100% zero emission vehicles. The workshop exemplifies a welcoming start towards a low carbon and sustainable future.

#Tag:   #GS3    #Transport   #Pollution   #Degradation   #Pre

✳️Mains: Role of green finance in decarbonisation of transport