The World Bank’s Board of Executive Directors approved $1.5 billion in financing for a second operation to help India accelerate the development of low-carbon energy. Decoupling economic growth from emissions growth will require scaling up renewable energy, especially in hard-to-abate industrial sectors. In addition, it will also significantly help to increase renewable energy capacity and support reductions in emissions by 50 million tons per year. “India has taken bold action to develop a domestic market for green hydrogen, underpinned by rapidly expanding renewable energy capacity. “The operation is helping in scaling up investments in green hydrogen and in renewable energy infrastructure.

Source: Pakistan Today June 29, 2024 10:40 UTC