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New Delhi: India is well placed to emerge as a global green hydrogen hub and is poised to realise its full potential to create a green hydrogen ecosystem by 2030, petroleum minister Hardeep Singh Puri said on Wednesday.
Addressing the G20 dialogue on ‘India’s role in the future of Energy’, Puri said several estimates show India will account for approximately 25% of the global energy demand between 2020 and 2024. “So, the demand is here. And Ithink the response to that demand also has to be anchored in sustainability,” he said.
India’s G20 sherpa Amitabh Kant said India is seeking to promote sustainable production and consumption through building consensus on LifeStyle for Environment (LiFE) and on circular economy. “Realising the need to decarbonise industrial sectors and long distance transport, we are building consensus on standards for green hydrogen, along with a focus on biofuels & bioenergy,” said Kant.
Stating that finance will be a crucial element to fund the transition to renewable energy, Kant said developed countries need to incentivise emerging economies for the transition. “We must recognise the nations most vulnerable to climate change are not the cause of it,” he said, adding multilateral development banks (MDBs) are best placed to play enabling role. “Reformed MDBs are crucial to our goals,” said Kant.
