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The NITI Aayog has said that the government is working towards setting up the National Green Financing Institute to achieve the target of pure zero carbon emissions by 2070. The reason for this is the existing flow of finance for climate initiative is significantly lower than the required level.
New Delhi. The NITI Aayog has said that the government is working towards setting up the National Green Financing Institute to achieve the target of pure zero carbon emissions by 2070. The reason for this is the existing flow of finance for climate initiative is significantly lower than the required level. The Commission said in its annual report 2024-25, “A separate National Green Financing Institute can be envisaged to bridge this gap.”
It states that the primary objective of the institute is to collect green capital from various sources and reduce the cost of capital. NITI Aayog said that it is looking at various measures for the operational system of the Possible National Green Financing Institute. This includes the use of existing institutions like Naibfid (National Infrastructure Funding Development Bank)/NABARD, Use of EREDA, Green Invit (Non-Created) (Non-Critical), etc.
Apart from this, attention is also being paid to the best activities of green banks around the world. India targets to reduce its GDP emission intensity by 2030 by 2030 compared to 2005 levels under its climate commitments or national level contribution (NDC) submitted to the United Nations Conference on Climate Change (UNFCCC) in 2022. Is kept Its goal is to achieve 50 percent of its established power capacity by 2030 from green energy sources.
Disclaimer: Prabhasakshi has not edited this news. This news has been published from the feed of PTI-language.
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