NITI Aayog and Netherlands sign SoI on â€˜Decarbonization and Energy Transition Agendaâ€™
NITI Aayog and Embassy of the Netherlands, New Delhi have signed a Statement of Intent (SoI) on 28 September 2020 in order to support the decarbonization and energy transition agenda to accommodate cleaner and more energy.
- The SoI was signed by NITI Aayog CEO Amitabh Kant and Ambassador of the Netherlands to India Marten van den Berg.
- With the SoI, NITI Aayog and the Dutch Embassy seek a strategic partnership to create a platform which will enable a comprehensive collaboration among stakeholders and influencers that also include policymakers, OEMs, industry bodies, private enterprises, and sector experts.
- The Primary focus of the partnership is on co-creating innovative technological solutions by leveraging the expertise of the two entities.
- The innovative technological solutions willÂ be achieved through an exchange of knowledge and collaborative activities.
- Key elements of the SoI include:
- To lowering the net carbon footprint in industrial and transport sectors.
- To realise the target potential of natural gas and to promote bio-energy technologies
- To adopt clean air technologies from monitoring to reducing the actual particulates.
- To adopt next-generation technologies including hydrogen and carbon capture utilization and storage for sectoral energy efficiency .
- To set up financial frameworks so as to deliver and adopt climate change finance.
Significance of the deal
- Both India and the Netherlands have set up sustainable energy targets and they face similar issues in realizing cleaner energy transition goals. So, Indiaâ€™s expertise in deploying high-tech solutions in a cost-effective manner in combination with the Dutch expertise in low carbon technologies will strengthen the Indo-Dutch collaboration.
- As both India and the Netherlands work to transform their energy sector, SoI will help both the countries to move towards becoming climate-resilient economies.
- SoI meet the two objectives of generating economic growth and safeguarding the environment for future generations.
India’s Goal for energy transition
- India is committed to reduce emissionsâ€™ intensity by 33%â€“35% by 2030.
- Â Apart from emphasis on renewable energy, India also stands committed on the rapid adoption of electric vehicles.
Significance of Netherlands for India
The Netherlands and India have a long history of trade and investment. Netherlands is Indiaâ€™s sixth largest EU trading partner. 20% of Indiaâ€™s exports to the European continent goes through the Netherlands. Thus, Netherlands is Indiaâ€™s â€˜gateway to Europeâ€™. It is also one of the top five investors and the third largest source of Foreign Direct Investment for India.