(Business Today India/PTI) Piloting the Energy Conservation (Amendment) Bill, 2022, Power Minister R K Singh said “this is the bill for the future” and added that the renewable energy capacity addition in the country was the fastest in the world.
Lok Sabha on Monday passed a bill seeking to promote the use of non-fossil fuels, including ethanol, green hydrogen and biomass.
The bill is also aimed at helping the country achieve its international commitments with respect to climate change goals.
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The bill was later passed by the House after rejecting amendments moved by some Opposition members.
Among other provisions, it provides for penalties for violations by industrial units or vessels as well as on manufacturers if a vehicle fails to comply with fuel consumption norms.
“With the passage of time, and in the context of the energy transition with special focus on the promotion of new and renewable energy and National Green Hydrogen Mission, a need has arisen to further amend the said Act to facilitate the achievement of ‘Panchamrit’ as five nectar elements presented by India in Conference of Parties -26 in Glasgow last year,” as per the Statement of Objects and Reasons of the bill.
The amendments also seek to promote renewable energy and the development of a domestic carbon market to battle climate change.
Further, the bill seeks to introduce new concepts such as carbon trading and mandate the use of non-fossil sources to ensure faster decarbonisation of the Indian economy and help achieve sustainable development goals in line with the Paris Agreement. READ MORE