Blitz Bureau
NEW DELHI: The Union Budget 2024-2025 will give a further push to prioritise environmental, social, and governance (ESG) and sustainability initiatives to drive long-term economic growth and environmental resilience, experts said on July 22.
Last month, the World Economic Forum (WEF) hailed India’s progress in the global energy transition, observing that the country ‘is leading the way in creating outcomes that can be replicated elsewhere.’
According to Saunak Saha, Partner, Climate Change and Sustainability Services, EY India, enhanced incentives for green technologies, stricter regulations on carbon emissions, and increased funding for sustainable infrastructure projects are essential.
“Our energy sector and transport sector would need to decarbonise which eventually would help other sectors as well on their decarbonisation agenda. These measures will not only help India meet its climate commitments but also position the nation as a leader in sustainable development,” Saha emphasised.
India added a record renewable energy capacity of 18.48 GW in 2023-24, more than 21 per cent higher than 15.27 GW a year ago, according to government data.
